Drilling & production

The review depicts a turbulent year for the industry, with a constant battle between the energy transition and societal pressures to maintain energy supply.

The global oil and gas exploration sector had its strongest year in 2022 in more than a decade according to Wood Mackenzie.

The three-year agreement covers the supply of OCTG Premium products, associated accessories, and specialised physical and digital services, representing a volume of supply above 110 kt of products and accessories.

The well is being drilled by KCA Deutag, with final depth of around 4700 m expected to be reached in June this year.

The first contract, in partnership with Aker Solutions do Brasil, has been awarded by Total Energies, for the LAPA Southwest (LAPA SW) Development Project, a deepwater oilfield in the Santos Basin in the South Atlantic.

Preliminary production figures for December 2022 show an average daily production of 1 983 000 barrels of oil, NGL and condensate.

Assets to be acquired include production from over 1230 horizontal wells, 157 line of site wells, and 44 permitted wells all in the core of the Haynesville Shale.

The company and partners Wintershall Dea and Petoro have made a commercial gas discovery in production licence 1128, estimated at between two and eleven billion standard cubic metres of recoverable gas, or about 12.6 – 69.2 million barrels of oil equivalent.

The company intends to fully exit Russia following a principle decision of the Management Board, approved by the Supervisory Board.

The CT&P business fits well within Archer’s overall strategy to grow our drilling and well services in UK and to further grow our integrated P&A service offering.

The company has provided an operational update on its current activities and the outlook for 2023.

The company has approved the final investment decision of the Lapa South-West oil development located in the Santos Basin, 300 km off the coast of Brazil.

The company has successfully completed the assessments of the requirements for API 16AR repair and remanufacturing of drill-through equipment at its manufacturing facility in Hempstead, Texas.

According to the company, upstream oil and gas companies made big strides in 2022, restoring confidence and repairing balance sheets.

Nicolas Payer has taken up the role of Managing Director for the UK E&P business on 09 January.