Upstream drilling news

The company has agreed a contract with Stena Drilling for the provision of an offshore drilling rig, with drilling planned to commence between 15 December 2020 and 1 February 2021.

The rig time was reduced from seven days on a conventionally drilled well to four days using Neodrill's CAN technology.

Shell is the operator of the block with a 45% stake, along with Chevron, also at 45%, and Ecopetrol, with 10%.

The Parque das Baleias Area offshore Brazil has reached the mark of 1 billion bbl of oil produced.

The Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project is expected to reach its peak production of approximately 15 681 bpd in 2022.

The increase in production in 1Q20 was driven by strong production levels at the South Disouq onshore gas area in Egypt.

The company's Ruche project has also been deferred until efficient project execution can be assured.

Once the idle period is complete, the rig will be mobilised to South Africa by Total to commence its charter as planned.

A Rystad Energy analysis reveals that stocks in oilfield services companies have collectively lost half their value since the beginning of 2020.

The operation was conducted from an integrated subsea template structure at the Fenja field in the Norwegian North Sea.