Oil & gas news

Not until 2025, 11 years after the last peak, are global service market revenues again likely to have made it back to the US$920 billion mark seen in 2014, according to Rystad Energy.

The Abu Dhabi National Oil Company signed an agreement awarding the exploration rights for Abu Dhabi Onshore Block 4 to Japan’s INPEX CORPORATION.

The company has invested in Sapien Cyber Ltd., a Western Australian company specialising in the protection and security of critical infrastructure.

Andy Kay (Managing Director), Garry Kennie (Engineering Director) and James Allan (Operations Director) are now joined by David Stark, James Russell and Andy Lovell.

Under this award, Borr will deliver a total of 9 offshore development wells to its customer under an integrated services model.

The company has entered into an agreement to acquire the remaining 30% of the Maromba field offshore Brazil for a total acquisition cost of US$25 million from Chevron.

Feasibility studies in order to accelerate the exploitation of these new resources leveraging the synergies with existing facilities will start after finalising the discovery evaluation.

The SPE Aberdeen Section revealed the winners to an audience of almost 500 people, with categories covering technological innovation, company performance, and individual achievement and dedication across the UK offshore energy sector.

The company has announced that 10 000 bbls of Portland oil production has been reached at Horse Hill.

The MOU is designed to support a specialised development programme for Egypt’s middle management and young professional employees.