Drilling & production

Agreement extends successful long-term relationship in the conventional land drilling market.

Aker BP has been given consent to drill exploration wells in block 25/2 in the North Sea.

The scope of the agreement covers maintenance, inspection and testing services on five pedestal cranes on the development’s Likouf Floating Production Unit (FPU) and Tension Leg Platform (TLP) over three years.

Tethys Oil's share of the production, before government take, from Blocks 3&4 onshore the Sultanate of Oman amounted in June 2017 to 375 333 bbls of oil, corresponding to 12 511 bpd.

The Leviathan 5 Well is expected to be completed soon, after reaching the final depth planned and verification of the existence of natural gas in three layers of the Leviathan reservoir (Sands A, B and C).

Sound Energy has provided an update on the TE-7 extended well test.

Independent Oil and Gas plc has announced that it has submitted the Field Development Plan to the UK Oil and Gas Authority for the Blythe Hub, which comprises the Blythe and Elgood fields.

WorleyParsons has been awarded the project management and front end engineering and design (FEED) services for the offshore oil and gas facilities portion and the onshore upstream and downstream pipelines portion of Saudi Aramco’s Marjan Oil Field Development Program.

The Board of Ascent Resources plc, the European focused oil and gas exploration and production company, has provided an update on progress with its Petišovci project in Slovenia.

Centrica plc and Stadtwerke München GmbH have reached an agreement to combine Centrica’s European oil and gas exploration and production business with Bayerngas Norge AS.

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.