Upstream drilling news

Will Scargill, Senior Oil & Gas Analyst at GlobalData, offers his view on the prospects for the sector.

Two of the leading offshore drilling contractors have agreed to merge creating an industry-leading drilling contractor capable of working across all water depths with a truly global footprint.

BHGE will acquire a five percent stake in ADNOC Drilling, valuing the business at US$11 billion, and the partnership will enable ADNOC Drilling to gain greater market access and new business opportunities

The contract is based on a master framework agreement established between Seadrill and Equinor.

The company has announced that the fifth well in its current Niger drilling campaign was spudded on 8 September 2018.

Block Energy Plc has announced the execution of a non-binding Memorandum of Understanding (‘MOU’) with Georgia-based drilling contractor, JSC Norio Oil Company (‘NOC’), for the provision of a drilling and a workover rig.

Petrofac has received a provisional letter of award for an engineering, procurement and construction (EPC) contract worth US$600 million with Sonatrach for EPC1 of the Tinhert Field Development Project in Algeria.

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, has announced that the Production Sharing Contract (‘PSC’) terms for its West Rustavi licence have been accepted by the government of the Republic of Georgia.

GyroSphere MEMS gyro-while-drilling service increases drilling survey efficiency and reliability with new microelectromechanical technology.

Nostra Terra, the oil and gas exploration and production company with a portfolio of assets in the USA and Egypt, reports a production update and development plan for the Company's Mitchell County assets in the Permian Basin.