Drilling & production

The jack-up rig Maersk Reacher is to be replaced by the low-emission jack-up rig Maersk Integrator offshore Norway end-February/early March 2022.

Demand for shuttle tankers in countries with robust offshore oil production and limited pipeline infrastructure is set to grow continuously in the coming years, a Rystad Energy report shows.

The Adorf Z16 well is expected to increase Neptune’s production from the licence to around 4000 boe/d.

The first two wells of Beach Energy's offshore Otway Basin campaign have been connected to the Otway Gas Plant and are now delivering gas into Australia's East Coast market.

As a result of Wood’s success in the region during 2021, and to support further growth, the company recently completed the mobilisation of over 600 new employees, with recruitment underway for an additional 200 roles.

Persistent withdrawals from global oil inventories have led to increases in crude oil prices, but the EIA forecasts that global oil markets will begin to balance through 2023, leading to a drop in prices.

The revision will result in an impairment in the region of US$1.8 billion.

In its January Short-Term Energy Outlook (STEO), the US Energy Information Administration forecasts US crude oil production will increase for nine consecutive quarters, from 4Q21 to 2023.

The Noble Hans Deul rig is expected to remain offshore with non-essential crew and equipment demobilised while an issue with rig stability is rectified.

Natural gas production from the Marcellus and Utica shale plays in the US is forecast to cross the 42 billion ft3/d mark by 2025, according to GlobalData.

A US$946 million EPC contract has been awarded by ADNOC Offshore to National Petroleum Construction Company for the development of the Umm Shaif field.

The US EIA forecasts that US dry natural gas production will increase from 95.1 billion ft3/d in October 2021 to 97.5 billion ft3/d by December 2022.

Hunting PLC has announced an agreement to form a new 49:51% joint venture with Jindal SAW Ltd.

The system will comprise of a blowout preventer (BOP) stack as well as an 8202 ft (2500 m) riser package.

The company has selected the Exalo #202 rig for the upcoming drilling programme at the Cabora Bassa project.