Upstream drilling news

The business intelligence group’s report reveals a 10 yr low in oil discoveries in Norway and anticipates a shift in focus in the UK to gas in 2018.

First Production from F1, F2 and F3 wells expected early March 2018

The contract, which was signed December 2017, is expected to commence in February 2018 and covers development drilling on the Jubilee and TEN fields offshore Ghana.

SBM Offshore has announced that on December 19, 2017 it completed the project financing of FPSO Liza for a total of US$720 million.

SM 71 F2 drilling ahead at 4895 ft MD after setting 10 3/4 in. surface casing at 3685 ft MD. Drilling is proceeding according to plan and the well will reach TD prior to the end of December.

Unconventional oil reserves across the top ten countries stand at 9.2% (45.8 billion barrels), oil sands reserves stand at 6.7% (33.3 billion barrels), and heavy oil represents 4.5% (22.2 billion barrels) of all remaining reserves.

An average of US$34.1 billion per year in capital expenditure will be spent on 1673 oil and gas fields in Russia between 2018 and 2020, according to GlobalData, a leading data and analytics company.

Halliburton has announced the release of Geometrix™ 4D Shaped Cutters, a line of four distinct geometric profiles to help improve cutting efficiency and increase control to reduce drilling costs.

The scale of the project will require US$35 billion with the first phase costing US$6 billion representing a landmark agreement for Genoil.

The recently drilled Mira 6 horizontal well, which ran inside the Castor coal seam for approximately 920 m and intersected the Mira 2 well at about the mid-point, came on-line and is producing water as planned.