Exploration

The new oilfield services company, Ardyne, has been launched with £50 million backing from Lime Rock Partners and has made its first acquisition.

SOCO has reported that the Baobab Marine-1 commitment well commenced drilling on 5 February 2016 in the Mer Profonde Sud Block, located in the Lower Congo Basin, offshore the Republic of Congo.

Sound Energy has stated that it has signed a binding agreement with OGIF whereby OGIF has granted Sound Energy an option to acquire a 55% interest in the Meridja permit, onshore Morocco.

The PSA has granted ConocoPhillips consent to use the Rowan Norway mobile drilling facility for plugging and abandonment of wells at Ekofisk 2/4 B.

Fugro has received a contract from BHP Billiton Petroleum Pty Ltd for the Pyrenees Phase 3 Installation Project.

Subsea UK has announced that it will sponsor an initiative that inspires budding subsea engineers for a second year.

Statoil has awarded contracts for Oseberg Vestflanken 2, Johan Sverdrup and Gina Krog, which have a combined value of approximately NOK 1.6 billion.

ENG Resources has launched its unique matchmaking service at Subsea Expo 2016, which aims to reduce the costs of recruiting engineers for subsea projects.

ExxonMobil’s Downstream and Chemical segment results highlighted the strength of the integrated businesses.

Damen Shipyards Group has announced the completion of a key construction contract, comprising two electric-powered cutter suction dredgers for the Canadian oil sands industry.

The Force forum aims to strengthen cooperation in research and development projects (R&D) at a two-day seminar hosted by the Norwegian Petroleum Directorate.

Underlying replacement cost profit for the full year was US$5.9 billion, compared with US$12.1 billion reported for 2014, down 51%.

The Open Innovation Awards fast track promising ways to reduce fresh water in shale oil and gas production.

The sale will help fund further development of the Moftinu gas discovery in Romania.

Also announced was the development of a pilot programme with BP and Partnership with Paradigm.