Upstream news
BP reports US$5.7 billion loss in 2020
For 4Q20, BP reported a profit of US$115 million.
C-Innovation signs one-year contract extension with BP for riserless light well intervention in Gulf of Mexico
C-Innovation will supply and complete all project management and engineering to provide a complete RLWI system utilising technology from Baker Hughes, Caltex Oil Tools and Halliburton.
BP selling 20% stake in Oman's Block 61 to PTTEP
Block 61, covering around 3950 km2 in central Oman, contains the largest tight gas development in the Middle East.
Oil flow begins at Wressle onshore oilfield
Wressle lies on licences PEDL180 & 182 in the UK, in which Europa Oil & Gas holds a 30% working interest alongside Egdon Resources (30% and operator), and Union Jack Oil (40%).
Chevron reports 4Q20 loss
Chevron has announced an US$11 million 4Q20 loss.
Deloitte and OGUK report urges offshore industry to ‘reimagine’ its business and models to maximise energy transition opportunities
Improving commercial models which support cost reduction whilst incentivising the supply chain could re-energise collaborative culture, according to the findings of the annual Deloitte and OGUK Collaboration Report.
Equinor receives drilling permit in production licence 785 S
The drilling programme for well 31/11-1 S relates to the drilling of a wildcat well in production licence 785 S.
Wood Mackenzie releases oil market outlook
Wood Mackenzie has outlined three themes that will impact oil markets and refining in 2021.
Neptune Energy starts Seagull drilling campaign in North Sea
The Gorilla VI (JU-248) jack-up rig, operated by Valaris, will drill four wells for the development over the course of the drilling campaign which is expected to last 18 months.
Petrofac awarded enhanced North Sea contract by INEOS FPS
Petrofac will continue to supply personnel to the Unity Platform in the Central North Sea, the onshore Cruden Bay Terminal and other landline sites, as well as provide engineering and construction support.