Oil & gas news

Oil balances remain tight and prices are comfortably pinned above US$100 with risks to the upside, according to Enverus Intelligence Research’s latest PetroLogic report, Supply Constraints Dominate.

Operations have commenced on the Alkaid oil accumulation with the spudding of Alkaid #2, the company’s first horizontal well on the ANS, using the Nabors 105AC drill rig.

The Valaris DS-17 drillship has been tasked to drill an appraisal well, plug an old exploration well and conduct additional drilling scope in Brazil.

The company has announced that it has joined the Aiming for Zero Methane Emissions Initiative, a project to cut emissions of the harmful greenhouse gas to near zero by 2030.

CGG will apply its unique high-end OBS & FWI imaging technologies, expertise and specialised HPC from its UK and Cairo imaging centres to deliver the highest-quality 3D seismic images of pre-Messinian targets.

Coming into effect from 01 July 2022, all of Fraser Well Management’s personnel will transfer to the THREE60 Energy team.

Equinor has initiated a safe shutdown of the Gudrun, Oseberg South, and Oseberg East fields after members of the Norwegian Organisation of Managers and Executives (Lederne) trade union went on strike from midnight.

The permits, for wells off the coast of Norway, have been granted based upon the petroleum resource act paragraph 13.

According to Rystad Energy analysis, global recoverable oil now totals an estimated 1572 billion barrels, a drop of almost 9% since last year and 152 billion fewer barrels than 2021’s total.

Equinor will retain 49% interest in the project, and Shell will become the new operator of the field. To reflect this change, Equinor and Shell have agreed to rename the North Platte development to the Sparta development.