Drilling & production

Significant progress on the Santos turnaround: Record production and sales volumes, free cash flow breakeven US$36.50/bbl and net debt reduced to US$3.5 billion.

Gulfsands Petroleum plc has announced that its subsidiary, Gulfsands Petroleum Morocco Limited, has been awarded an extension to its Moulay Bouchta Petroleum Agreement together with a revised work programme.

Subsidiary Chariot Oil & Gas Investments (Morocco), has been awarded a 75% interest and operatorship of the Kenitra Offshore Exploration Permit, Morocco in partnership with the Office National des Hydrocarbures et des Mines, which holds a 25% carried interest.

Fact finding tour of UK energy companies will be compiled into government best practice report.

Rystad Energy research indicates Santos’s Ande-Ande Lumut (AAL) project in Indonesia’s NW Natuna Sea, which holds 107 million boe, could comprise around 20% of the 2017 sanctioned volumes in the APAC region.

The company has announced that it will supply one ProDry™ unit for the Troll B ZMP Project. ProSep’s project scope of supply – awarded through Aker Solutions – began in January 2017 and is expected to last approximately five months.

Eni’s CEO, Claudio Descalzi, Bob Dudley, CEO of BP, and the Egyptian Minister of Petroleum, Tarek El Molla have signed a deed completing the sale to BP of a 10% stake in the Shorouk concession, offshore Egypt.

Tamarind, based in Kuala Lumpur, Malaysia, will pay New Zealand Oil & Gas US$750 000 in exchange for all shares in its Tui holding company, Stewart Petroleum.

The EIA’s Annual Energy Outlook 2017 Reference case projects that US tight oil production will increase to more than 6 million bpd in the coming decade, making up most of total US oil production.

The facility supports managed pressure drilling operations in the North Sea.

LGO has confirmed that final approval was granted by the Forestry Department on Friday, 10 February 2017, to cut trees in order to clear the well sites for the impending two shallow infill wells at the Goudron Field in eastern Trinidad.

ExxonMobil has awarded to Pason Systems, Inc. the first global license of its Drilling Advisory System™, a key component of the company’s Fast Drill™ technology suite.

The contacts have a total value, included options, of NOK 2.7 billion. The vessels will be part of Statoil’s area-wide emergency response on the Norwegian continental shelf (NCS).

Genel Energy plc has announced that it has finalised documentation of previously agreed terms of Amended and Restated PSCs and gas lifting agreements for both the Miran and Bina Bawi gas fields.

Lundin Petroleum AB has announced that its wholly owned subsidiary Lundin Norway AS has made an oil and gas discovery in the main well 7219/12-1 and is presently drilling a sidetrack 7219/12-1A on the Filicudi prospect.