Oil & gas news
Lundin Petroleum announces 2020 budget
The company's budget for 2020 is US$1.27 billion, which represents a 30% increase on 2019 capital expenditure.
Equinor and Shell acquire stake in Vaca Muerta onshore block
The two companies have completed a joint acquisition of the 49% interest held by Schlumberger in the Bandurria Sur onshore block in Argentina’s Neuquén province.
Total awards PBS consortium North Sea maintenance deal
The five-year contract will take effect in April 2020.
Rystad Energy: potential US fraccing ban would have little immediate impact on nationwide oil and gas production
If fraccing activity were to be eliminated on federal acreage the result would be a widespread shift of capital from federal to private and state-owned acreage in a bid to replace the lost oil volumes, according to Rystad Energy.
Rotork actuators used for oil and gas flow control on Brazilian FPSO
The actuators will be operated by end user Modec to control the flow of oil and gas from the FPSO to the metering system.
2019 year of contraction for Texas upstream industry
Through December 2019, the Texas Petro Index lost 9.4% of its value since the February 2019 cyclical peak.
Prospex Oil and Gas Plc has rasied £720 000
The net proceeds of the placing will primarily be used to fund the company’s acquisition of a 49.9% indirect stake in El Romeral.
MODEC, Mitsui, MOL and Marubeni to proceed with the deepwater FPSO charter project for Marlim Field of Brazilian offshore oilfield
The four companies have entered into related agreements on 30 January 2020.
Gulfstream Services, Inc. announces US expansion in three locations
Formed in 1978, GSI has seven locations in the US and one in Aberdeen, Scotland with a global team of 210.
Equinor selects contractors for Bacalhau area offshore Brazil
Subsea Integration Alliance, SIA formed by Subsea7 and OneSubsea has been selected for the subsea, umbilical, risers and flowlines contract and MODEC Inc. for the FPSO contract.