Upstream news

The divestment includes Seabed’s ocean bottom node inventory, handling equipment, related technology and order backlog.

The Sirung-1 wildcat well in Block SK405B was drilled to a total depth of 2538 m where it encountered a significant oil and gas column of more than 100 m, in the clastic reservoirs.

Neptune Energy’s revised estimate of the indicative recoverable resources is 40 – 108 million boe, which will be subject to further detailed analysis and review.

The Maersk Reacher rig will be used by Aker BP from July 2021 for a minimum of nine months.

Oil prices fell on Monday as the Suez Canal blockade is getting closer to a resolution and as global Covid-19 infections rose for a fifth consecutive week.

The company aims to grow turnover by 20% annually for the next five years by expanding its oil and gas, rail, defence and FMCG presence and diversifying into renewables.

The contracts have been awarded for work in Pakistan, Russia, Kurdistan, south-eastern Europe and Germany.

The companies' agreement provides for the creation of a gas and crude oil development hub through a synergy with existing MLE-CAFC installations.

The licensees will assess the discovery, about 15 km south of the Edvard Grieg field, with regard to a possible tie-in to the Solveig field.

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.