Oil & gas news

In the second quarter Equinor completed 9 exploration wells offshore and 3 wells were ongoing at quarter end. Equinor made 3 commercial discoveries in the quarter, all close to infrastructure on the NCS.

The Guyana investment strategy continues to yield positive results; additional exploration wells planned later this year, while production from two vessels currently operating offshore has exceeded their initial combined target of 340 000 bpd.

ZMI Holdings has announced that ADNOC Logistics & Services), the shipping and maritime logistics arm of ADNOC Group, has entered into definitive agreement to acquire ZMI. The transaction is subject to customary regulatory approvals and is expected to close in 4Q22.

The project is expected to come online in the mid-2020s, and at peak production rates, could represent over 6% of projected UK North Sea gas production in the middle of this decade, with operational emissions of less than 1% of the whole UK basin.

The repayment leaves the Company debt free, with significant cash on hand, further cash due from the imminent lifting from the FPSO, and ongoing cash generative production from the Lancaster field.

This marks an important milestone in the development of Fenja, which is scheduled to come on stream in the first quarter of 2023 and will produce approximately 28 000 boepd at plateau.

The British Gas Energy Trust is an independent charity solely funded by British Gas and, as well as directly helping consumers with grants, it works with and provides funding to other money and energy advice projects around the UK.

The company has announced its decision to withdraw from the Yadana field and from gas transportation company MGTC in Myanmar, both as shareholder and as operator.

The deal is the first scope agreed for the Well-Safe Defender semi-submersible rig, which Well-Safe Solutions purchased in June 2022.

Under the contracts, the company will provide front-end engineering design (FEED), detailed design support, project management services and construction management services.