Drilling & production

Chariot Oil & Gas Limited, the Atlantic margins focused oil and gas exploration company, has provided a pre-close operational update prior to its year end 31 December.

US crude oil proved reserves declined by 4.7 billion bbls and natural gas proved reserves declined by 64.5 trillion cubic feet.

Following this transaction, Athabasca will take over operatorship of Leismer and Corner and Statoil will no longer operate any oilsands assets.

OMV has completed the sale of a 49% minority stake in Gas Connect Austria GmbH to the consortium composed of Allianz, Europe’s largest insurer, and Snam, one of Europe’s leading gas infrastructure players.

The Oman Ministry of Oil & Gas has announced that bidding for the 2016 licensing round is now underway. Using a new online service, interested parties are now able to access and evaluate data relating to all four blocks online.

International engineering and operations support services contractor ODE, a part of the DORIS Group, was recently named as a key contributor to a new industry working group.

Higher drilling efficiency has enabled Maersk Oil to reduce development costs on the Culzean HPHT gas project by US$500 million.

The execution of the Basic Agreement was approved in a meeting of the OMV Supervisory Board on 14 December, but is still subject to signing of the Basic Agreement by the parties. The signing is expected to take place during the course of the day.

Petsec Energy has released a preliminary schedule for the development of the Hummer Project at Main Pass Blocks 270/273/274 offshore Louisiana.

Findlay Moir, Underwater Engineering Services, UK, explains how efficiency is being maximised across the decommissioning arena.

Lokring Northern, provider of advanced fluid and gas transfer connectors, has announced the expansion of its Aberdeen office to accommodate company growth and increasing staff numbers.

The agreement will see the company acquire a 50% operated interest in UKCS Licence P.2243 from Zennor North Sea.

AWE Limited has divest its 57.5% interest in the Tui Area Oil Fields to Tamarind Management Sdn Bhd.

The companies have agreed to amend the existing long-term contracts on three ultra-deepwater drillships. In the current, challenging environment for offshore exploration and production projects, the agreements offer benefits for both parties.

The acquisition of Essential's service rig business expands Precision's leading well service position.