Drilling & production

The company has outlined its plans to grow production to more than 100 million boe by 2025, almost doubling current levels of production.

The company is signing collaboration agreements with Aker Solutions and TechnipFMC for subsea equipment and services on the Norwegian continental shelf (NCS) and internationally.

Total has agreed to purchase from Chevron all the share capital of Chevron Denmark Inc. which holds a 12% interest in the Danish Underground Consortium (DUC), a 12% interest in Licence 8/06, and a 7.5% interest in the Tyra West pipeline.

Lundin Petroleum AB (Lundin Petroleum) has announced that its wholly owned subsidiary Lundin Norway AS (Lundin Norway) has successfully completed the Alta appraisal well 7220/11-5 and extended production test in PL609 in the southern Barents Sea.

The company has completed a subsea installation monitoring project for Subsea 7 in support of Equinor’s Utgard development, located in blocks 15/8 (NCS) and 16/18a (UKCS) of the central North Sea.

Aker BP ASA, operator of production licence 028 B, has concluded the drilling of appraisal wells 25/10-16 S, A and C on the Hanz field, as well as wildcat well 25/10-16 B drilled in production licence 915 just southeast of the Hanz field.

The company has announced that the Cormorant-1 exploration well on Petroleum Exploration License 37 (‘PEL 37’) offshore the Republic of Namibia encountered non-commercial hydrocarbons.

Following recent statements by Fluvio Ruiz Alarcon, Adrian Lara, Senior Oil and Gas Analyst at GlobalData, offers his view on the impact on the upstream sector.

The company has announced a major gas discovery on the Glendronach prospect, located offshore U.K. West of Shetland.

Equinor has awarded Transocean a contract for drilling six wells on the Norwegian continental shelf (NCS) by use of the Transocean Norge mobile rig. Drilling start-up is scheduled for the summer of 2019.

The Romanian government has proposed a reduced royalty and additional tax structure for offshore investments, allowing a larger proportion of capital investments to be deducted for tax purposes.

The company has announced that it has signed a Sale & Purchase Agreement (SPA) for the acquisition of Cieco Exploration & Production (UK) Limited, a wholly owned subsidiary of ITOCHU Corporation.

ESAI Energy’s pipeline assessments address the status and timing of proposed pipeline projects and estimate the impact these projects have on the origin and destination points in key markets.

Iran has new build capital expenditure (Capex) of around US$22.3 billion for the forecast period.

The company provides a summary of results from the well, located in the Valley of the Lakes basin complex of central Mongolia.