Drilling & production

The transaction is expected to close in 4Q22, subject to obtaining all relevant approvals and satisfying other conditions to closing.

The seven-figure contract, sees Polaris purchasing a 13 000-node system from innovative land STRYDE. The system will be used to acquire high-density subsurface data to enable cost-effective and efficient oil and gas exploration in Africa.

Neptune Energy and its partners have announced a new commercial discovery at the Ofelia exploration well (PL 929), close to the Gjøa field in the Norwegian sector of the North Sea.

The new IWS SIMOPS app is now available on the Corva App Store. The app provides real-time visualisations of the frac tree and wellheads that improve wellsite operational and safety performance.

Australia’s oil and gas industry says new offshore acreage to explore for carbon capture and storage opportunities as well as areas for petroleum exploration will support efforts to lower emissions and ensure continued energy security.

A significant gas discovery has been made at the Cronos-1 well, in Block 6, offshore Cyprus. This discovery follows the Calypso-1 discovery made on the same Block in 2018.

The company has shared further details regarding the previously disclosed acquisition of Aberdeen-based E-Flow Control Holdings, Ltd.

US shale oil producers are in line to suffer more than US$10 billion in derivative hedging losses this year if oil prices remain around US$100 per barrel, Rystad Energy research shows.

The Saudi Arabian oil company has signed a Memorandum of Understanding (MoU) with China Petroleum & Chemical Corporation (Sinopec) covering multiple areas of potential collaboration between the parties in Saudi Arabia.

The Australian Petroleum Production & Exploration Association (APPEA) has welcomed Senex’s major expansion of its Atlas and Roma North natural gas developments in Queensland’s Surat Basin.

Miros Group has secured a trio of three-year agreements with Subsea 7 to install its IoT dry-sensor WaveSystem. Each contract comprises a three-year period plus a subsequent one-year option. The contracts are due to commence between Q1 and Q3 2022.

In June this year, Petrobras reached an average monthly production of 616 000 barrels of oil per day (bpd) in the Búzios field, in the pre-salt layer of the Santos Basin.

bp and Eni have confirmed that Azule Energy, the new 50/50 independent joint venture combining the two companies’ Angolan businesses, has been officially established.

Cenovus will pay US$300 million for bp’s stake in the refinery, plus the value of inventory, and take over operations when the transaction closes, which is expected to occur later in 2022. bp and Cenovus will also enter into a multi-year product supply agreement.

The company has announced that its natural gas compression station will come online on 31 August 2022.