Oil & gas news

Vessel utilisation for 4Q19 was 80% compared with 32% for 4Q18. For the full year 2019, the vessel utilisation was 59%, whereas the utilisation for the full year 2018 was 33%.

The Vali-1 ST1 gas exploration well operated by Vintage Energy is being drilled through the Patchawarra Formation in Australia at a measured depth of 3059 m.

The first phase of the plan to reduce emissions by 2030 means more than 5 million t in annual reductions, representing around 10% of total annual Norwegian greenhouse gas emissions today.

GMS will provide support for offshore activities on behalf of two Middle Eastern national oil companies.

Glass has over 20 years’ experience as both an executive director and as an independent non-executive director of international companies.

The agreement is until end 4Q20, with options until 4Q21.

The project included the subsea inspection of three large conventional jacket structures off the coast of California.

Lekoil 310 Limited, a wholly owned subsidiary of LEKOIL, has entered into a binding loan agreement with the Qatar Investment Authority, the sovereign wealth fund of Qatar, in the amount of US$184.0 million.

With the successful Serenity discovery and remaining potential at Liberator, the company has begun planning a mid-2020, multi-well appraisal programme and is simultaneously conducting a farm-down process of its licences to potentially fund the 2020 drilling campaign.

While net pay was lower than pre-drill forecasts, the company has said that the 27 degree API oil supports the significant potential of the Cretaceous play on both the Kanuku and adjacent Orinduik licences.