Stay up to date with the latest news and updates from the oil industry.
The company has announced the signing of a frame agreement with Equinor ASA to provide DualLink™ powered and wired drill pipe for their operations, ahead of installing and operating the system at their Oseberg field.
The current value of the order is more than £5 million. Approximately £2.5 million of milestone payments will be received and accounted for as deferred revenue in the current financial year.
The latest analysis from McKinsey & Company reveals that oil and gas industry costs could increase between 6 – 10% in 2023 due to labour uncertainties and raw-materials inflation.
Shell Salym Development B.V. – a subsidiary of Shell plc – has completed the withdrawal from its 50% interest in the Salym project in Russia.
The Alkaid #2 well returned to production on 21 February, following the cleanout of the sand blockage in the final 1000 ft (c.20%) of the wellbore.
The use of hybrid power solutions is an essential element of the company’s decarbonisation strategy, as it contributes to ADNOC’s commitment to reduce greenhouse gas intensity by 25% by 2030.
The award will see TWMA deploy its RotoMill® technology for a harsh environment semi-submersible unit in the Central North Sea.
The company has signed an agreement to acquire Suncor Energy UK Limited for a total consideration of US$850 million.
The well was drilled about 6.5 km west of the Edvard Grieg field in the central part of the North Sea and 208 km west of Sandnes.
The company has announced that it has entered into agreements to acquire 187 889 551 shares in Seaway 7 ASA corresponding to 21.52% of Seaway7's issued and outstanding share capital, from Songa Capital AS, West Coast Invest AS and Lotus Marine AS.
The well was drilled about 13 km northeast of the Goliat field in the southern part of the Barents Sea and 90 km northwest of Hammerfest.
The company has signed an agreement to acquire equity interest in discoveries in the Troll, Fram and Kvitebjørn area in the North Sea on the Norwegian continental shelf (NCS) from Wellesley Petroleum AS.