Drilling & production

Oil production in May was 4% higher than the Norwegian Petroleum Directorate’s forecast, and 1.2% higher than the forecast so far this year.

The Gråsel reservoir is situated over the Skarv reservoir in the Norwegian Sea, about 210 km west of Sandnessjøen, and contains around 13 million boe of oil.

3-4 new gas wells will be drilled at the Valemon field in the North Sea in 2021 and 2022, which will extend profitable operations at the Heimdal field.

Transocean has secured work for its Transocean Barents and Transocean Norge drilling rigs.

The first trade of certified carbon neutrally produced oil from the Johan Sverdrup field has been completed with GS Caltex in South Korea.

New Mexico's record production in March was a result of both new wells coming online for the first time and existing wells coming back online after being shut in during the cold snap.

The company's production guidance for 2021 has been increased to between 180 to 195 000 boe/d, from the original guidance of 170 to 190 000 boe/d.

The new facility will enable the Group to simplify its existing capital structure and finance the acquisition of a 26.69% interest in the Golden Eagle Development Area Project in the North Sea.

The US$508 million transaction includes approximately 25 000 net acres in the Southern Delaware Basin in Texas.

Oil Dynamics GmbH recently installed and started up two new ESP systems near Hannover in Germany.

The total estimated value of the contract extension, based on current activity level, is expected to be US$200 million.

Shell still plans to appeal the court ruling last month that ordered it to reduce greenhouse gas emissions by 45% by 2030 from 2019 levels.

The US$2 billion contract will see the consortium provide engineering, procurement, construction and commissioning (EPCC) services for the development of an onshore oilfield that will generate up to 200 000 bpd.

The joint venture, which also includes Qatar Petroleum and CNRI, is considering an early production system for Block 11B/12B to provide first gas and condensate production from the Luiperd prospect.

The contract with Chevron is for the ultra-deepwater drillship Valaris Relentless (DS-18), a GustoMSC P10,000 design.