Drilling & production

Providence Resources has provided an update on Licencing Option 16/27 in the Porcupine Basin, offshore Ireland.

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 7220/11-4 A, cf. Section 8 of the Resource Management Regulations.

Waitsia-4 was spudded on 10 July 2017 and is forecast to take approximately five weeks in total to complete.

The discovery was made in the Blåmann well, between the Snøhvit and Goliat fields in the Barents Sea. Recoverable volumes are estimated at 2 - 3 billion standard m3, approximately 10 - 20 million boe.

EIA now forecasts Brent crude oil spot prices to average US$51/bbl in 2017 and US$52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be US$2/bbl lower than Brent prices in 2017 and 2018.

Westwood Global Energy Group, the energy market research consultancy, has released new statistics for exploration in the Asia-Pacific region which show that green shoots of recovery are starting to appear.

Exxon Mobil Corporation has signed a production-sharing contract for Block 59 in Suriname with Staatsolie Maatschappij Suriname N.V.

HIMA has recently announced Servelec Controls as its approved oil and gas-focused systems integration partner in the UK.

Aker BP has received consent to drill two exploration wells in the North Sea.

The company has completed six wells and is drilling the seventh one. The average daily production exceeded 14 thousand tonnes of oil last June.

Statoil Brasil Óleo e Gas has awarded Seadrill Limited a contract for one well and one drill stem test for the West Saturn.

Lundin Petroleum has announced the successful completion of the drilling and production testing of Alta appraisal well 7220/11-4.

This includes a 41% increase in estimated development gas well completions and a dramatic 81% increase in total estimated oil well completions from year-ago levels.

Bibby Offshore, a leading subsea services provider to the oil and gas industry, has announced a multimillion pound contract with a global energy player, Maersk Oil UK, to provide both late life production enhancement and decommissioning support in the North Sea.

Tesco Corporation has achieved certification to API Q1, ISO 9001: 2015 and the license to monogram products to API 8C at its facilities in the greater Houston area.