Drilling & production

Valued at approximately US$60 million, the 60-month contract encompasses services and expertise to support Cairn’s Mangala Processing Terminal located in Rajasthan, India.

The agreement, the first well services contract between the companies, includes well integrity remediation services and SCP mitigation.

Operated with power from the grid, KCA Deutag’s rig at the Adorf carboniferous gas field will use electrical motors in place of diesel-driven generators, removing an estimated 1000 t of CO2 emissions from the drilling operation.

PowerNap is a subsea tie-back to the Shell-operated Olympus TLP, located in the US Gulf of Mexico with an estimated peak production of 20 000 boe/d.

The sale to Geoplex Drillteq Ltd. includes five drilling rigs.

Project wins over the last 6 months include an integration solution to support the rig start up for a major new offshore project off the coast of Mexico, the first for Fennex in the region.

Economic impact analysis, published in Neptune’s Annual Report and Accounts, revealed the company’s overall European economic impact increased significantly in 2021 – up from US$2.1 billion in 2020 – due primarily to increased earnings resulting in higher taxes paid.

Significant upgrades have been carried out on the hull and the platform deck of Njord A to extend its lifetime for another 20 years of production.

Altus Intervention, headquartered in Norway and operating in 11 countries, specialises in fully integrated well intervention solutions, including proprietary technology.

In a statement, Joseph Elkhoury, KCA Deutag's CEO, said the company had suspended all new investments in Russia and is evaluating its options relating to its Russian business.

All three companies have said they will fulfil any existing activity in full compliance with applicable international laws and sanctions.

It is expected that, post-clean up, the MSD-25 infill development well will achieve a stabilised gross production rate of c.300 bpd, which is in line with pre-drill estimates.

The award for cementing services takes the total value of ADNOC’s drilling-related framework agreements and procurement awards since November 2021 to over US$8.5 billion.

The contract, with an unnamed client, could see the harsh environment jack-up rig Maersk Resolve employed in the UK sector of the North Sea for the majority of 2022.

IOG has started up the Elgood and Blythe gas fields in the UK North Sea this week.