Offshore & subsea - 28 July 2017

Once a production sharing contract for blocks 01 and 02 of the Cuu Long Basin expire, PC Vietnam Limited will hand the blocks over to the host authority.

The Norwegian Petroleum Directorate has granted Aker BP ASA a drilling permit for well 25/4-11, a wildcat well in production licence 677.

Faroe Petroleum has announced the conditional acquisition of a further 13.9935% interest in the Blane Field in the UK North Sea from JX Nippon Exploration and Production (UK) Limited for a total consideration of US$5.25 million.

Saipem and Petrobel have finalised offshore contract variations worth US$900 million for EPCI activities in relation to the 'Optimised Ramp Up' phase of the 'supergiant' Zohr Field Development Project situated in the Mediterranean Sea off the Egyptian coast.

Statoil and its partners have started production on the Byrding field as planned. Recoverable volumes in Byrding are estimated at a good 11 million boe.