Upstream news

The ANALYSE statistical programme was used by the supermajor to reduce ultrasound thickness measurements (UTMs) on pressure systems.

The suspension by ADNOC follows the announcement by the UK Serious Fraud Office (SFO) of additional pleas in January by a former Petrofac employee under the Bribery Act 2010 in relation to historic contract awards in the UAE in 2013 and 2014.

The Caofeidian 6-4 oilfield, located in the midwest of the Bohai sea, is expected to reach its peak production of approximately 15 000 bpd in 2023.

The economic impact analysis, from Oxford Economics, quantified the direct impact Neptune has on the UK, Norway, Germany and the Netherlands through its operations, the indirect impact generated through its supply chain and the induced impact due to spending by Neptune staff and suppliers’ staff.

Tullow Oil, Eco Atlantic and TOQAP will maintain control of the Orinduik Block licence offshore Guyana through to 13 January 2023 and until the second renewal period.

Oil prices kept their healthy levels on Friday as the market is realising that supply is getting tighter compared to the recovering demand, with the first indications evident on Saudi deliveries.

The acquisition comprises a controlling (60%) interest in the Q10-A offshore gas field together with interests in a suite of offshore exploration and production licences in the Dutch North Sea.

The partnership allows iMbokodo, a women-led company, to advance energy exploration throughout Southern Africa with a focus on empowering local community development alongside every upstream project.

The reductions in flaring follow increased focus by the UK's Oil and Gas Authority, which started benchmarking performance in 2020 and now also publishes data every month.

The combination brings together two companies with decades of experience in well construction, well flow management, subsea well access, well intervention and production services.