Upstream drilling news

ADNOC has announced the award of contracts valued at AED720 million ($196.2 million) for local manufacturing of a wide range of products across its value chain. The announcement was made at ADNOC’s Business Partnership Forum which was held on the sidelines of ADIPEC.

Pantheon Resources plc, an oil and gas company developing the Kodiak and Ahpun oil fields in close proximity to pipeline and transportation infrastructure on Alaska's North Slope, has announced the spudding of the Megrez-1 well to explore the eastern topsets in the Ahpun field, immediately adjacent to pipeline and road infrastructure.

Equinor has signed an agreement to acquire Sval Energi’s 11.8% share in the Halten East Unit. With this acquisition, Equinor increases its ownership to 69.5%.

The project is slated to begin in 4Q24, where Weatherford is expected to deploy multiple intervention solutions, advancing the operational efficiency and reliability of ADNOC’s onshore assets.

Caterpillar Oil & Gas has announced the launch of its Closed Crank Ventilation (CCV) System, a field-proven technology designed to eliminate the venting of crankcase gases, commonly referred to as blow-by emissions, from internal combustion engines.

Gran Tierra has announced its sixth consecutive Ecuador oil discovery from the Charapa-B7 well and that it has achieved cumulative production of over 1 million bbls of oil in Ecuador.

The partnership aims to enhance drilling efficiency in the oil and gas industry through the application of AI-driven Bottom Hole Assembly (BHA) optimisation, specifically focusing on roller reamer placement.

The agreement has been signed to acquire 95% equity stake in Deep Well Services for US$223 million, in support of Enersol’s growth plans.

Touchstone Exploration Inc. has announced initial production from the Cascadura C well pad.

Mineral Resources has reached an agreement with Hancock Prospecting on gas and oil assets in the onshore Perth and Carnarvon basins.