Oil & gas news

Merger and acquisition (M&A) activity on the UK Continental Shelf (UKCS) has surpassed US$8 billion this year in a clear sign that confidence is gradually returning to the basin, says Oil & Gas UK’s newly launched Market Insight.

BP has confirmed that production has started from the super-giant Zohr gas field, offshore Egypt. The field is operated by Eni, through its joint venture with The Egyptian General Petroleum Corporation (EGPC), and is the largest natural gas discovery yet to be made in the Mediterranean Sea.

The combined awards are valued at around US$60 million.

Aker BP has invested in and acquired a 17 % stake in the company Fishbones AS. Fishbones is an unconventional stimulation technology applied to increase the production rates in tight reservoirs.

SM 71 F2 drilling ahead at 4895 ft MD after setting 10 3/4 in. surface casing at 3685 ft MD. Drilling is proceeding according to plan and the well will reach TD prior to the end of December.

Unconventional oil reserves across the top ten countries stand at 9.2% (45.8 billion barrels), oil sands reserves stand at 6.7% (33.3 billion barrels), and heavy oil represents 4.5% (22.2 billion barrels) of all remaining reserves.

The oil and gas industry has just 18 months to upgrade critical release hook systems on offshore lifeboats to meet new regulations imposed by the International Maritime Organisation (IMO) to improve safety at sea.

Atkins has been awarded a contract with Repsol Norge AS (RNAS) to provide structural front end engineering design (FEED) and detailed design services for the remediation of the Yme asset in the Norwegian Central North Sea following completion of Repsol’s project sanction.

Trelleborg has, through its business area Trelleborg Sealing Solutions, fully acquired US-based privately-owned Automated Dynamics, an advanced composite components manufacturer.

Reveal Energy Services has announced that it has produced and delivered the first near real-time DiverterSCAN technology results, which allowed an operator to identify a diversion design that enhances hydraulic fracturing fluid distribution.