Offshore news

Gillian King will work with CEO Colette Cohen and new Chair, Martin Gilbert, to shape the overall strategic direction and long-term success of the Oil & Gas Technology Centre.

The temporary tax relief package for the petroleum industry that Norway recently approved could improve exploration and production companies’ short-term liquidity and reduce breakeven prices for future development projects by about 40% on average.

The platform is being constructed in the Kamennomysskoye-Sea gas field, located in the Ob Bay of the Kara Sea.

The company will continue to support the offshore operations of an international oil and gas company in Brunei.

The FPSO operating the well has the capacity to process up to 150 000 bpd and treat up to 6 million m3 of natural gas.

The three-year contract began on 1 May and will employ 144 Danos personnel in a variety of positions.

The new phase of the project, based on the successful completion of a design study last year, will include the design, build and test of enabling technologies that are the backbone of Upwing’s Magnetic Drive System concept for a reliable and retrievable electric submersible pump.

Efforts to find an additional partner for the drilling of the next well in blocks A2 and A5 are ongoing, with FAR working to conclude a farm-out before the restart of the drilling operations.

The field will be redeveloped by installing a new wellhead platform tied in to the Valhall field centre.

FAR is investigating selling all or part of its interest in the project.