Oil & gas news

Oil prices rose on Friday as the market re-evaluated the importance and consequences of the Suez Canal blockade and the effect of a prolonged bottleneck.

Pro forma for the acquisition, Noble will own and operate a high specification fleet of 24 rigs, with 11 drillships, 1 semisubmersible, and 12 jackups.

The company expects that the acquisition, on behalf of an unnamed customer, will take place in the beginning of 3Q21.

The US$615 million deal includes all INEOS Oil & Gas interests in production, licenses, fields, facilities and pipelines, on the Norwegian continental shelf.

3t Energy Group has secured a contract with Chrysaor to manage the training of its entire UK workforce using digital learning technologies.

The newly established Aker BP UK has taken a 50% interest in licence P2511 on the UK Continental Shelf.

Oil prices rose on Wednesday due to a blockage at the Suez Canal, which prevents normal traffic of oil tankers. Positive data in European purchasing manager indices also help, but concerns that heavy lockdowns in Europe will affect the demand recovery still keep prices lower than few weeks ago.

The well in licence VIC/P43 intersected a gross gas column of 69.5 m in the Upper Waarre Formation, including 62.9 m of net gas pay, with a gaswater contact intersected at 1990 m measured depth.

The NoMan optical system has been used successfully over the last four years to provide equivalent or better inspection data to that produced by people entering confined space.

Tranter’s project scope covers design, engineering, supply, and maintenance of several plate heat exchangers that will be installed on the topside facilities of FPSO units, where they will be used for various heating and cooling duties.