Offshore news

FAR Ltd has signed a Farm-out Agreement (FOA) with a subsidiary of Petroliam Nasional Berhad (PETRONAS) to assign a 40% interest in each of the highly prospective offshore petroleum licences, Blocks A2 and A5 in The Gambia. FAR is to retain a 40% interest in each of the licences.

Drilling is performed by the brand new Cat J rig Askepott, purchased by the licence. This is the first job performed by this rig.

The West of Shetland (WoS) region is not a new province, but it is still one which is under-explored, at least by UKCS standards.

AWI will use the Sentinel HR on research projects it is conducting to record critical data about the relationship between geological activity and ecosystems in order to gain a better understanding of the Earth’s system.

Vryhof Business Deep Sea Mooring (DSM) to provide mooring equipment and design sevices; quality of personnel a key factor in Maersk drilling decision.

Following the partnership formed by GE and Noble Corporation plc, the two companies launched the world’s first digital drilling vessel, targeted to achieve 20% operational expenditure reduction across the targeted equipment and improve drilling efficiency.

Over US$151.5 billion in capital expenditure will be spent over the lifetime of the top ten offshore oil projects to produce 14.3 billion barrels of crude, according to GlobalData, a leading data and analytics company.

Borr Drilling announced its intention to acquire Paragon Offshore after inking a binding tender agreement to purchase all outstanding shares for US$232.5 million.

SK Innovation announced on 21 February 2018 that it made oil discovery in the PRMB block 17/03 in the South China Sea.

Production start-up for the F1 well on South Marsh Island Block 71 in the Gulf of Mexico is expected to begin in March 2018.