Upstream news

The two companies are to construct an oil well stimulation vessel as part of the agreement.

The Jinzhou 25-1 oilfield 6/11 area is expected to reach peak production of approximately 16 500 bpd in 2023.

Wintershall Noordzee is currently finalising the hook-up activities to the D12-B production platform, from where the produced gas will be transported via the Neptune Energy-operated D15-A production platform, through the NGT gas transportation system to shore.

Oil prices declined on Monday as Covid-19 infections continue to increase and on key market participants’ pessimism.

The API has responded to the Trump administration’s announcement to extend the existing offshore moratorium in the Eastern Gulf of Mexico to include additional areas off the Atlantic Outer Continental Shelf (OCS) through the year 2032.

The contract covers the delivery of four subsea templates and up to 23 subsea trees and associated components.

The Santos-operated field is located in Permit WA-33-R off the coast of Western Australia.

Neptune Energy will remain as operator of the prospect with a 30% working interest in the licence.

Following the transaction, the PGNiG Group’s own gas production in Norway will increase to 0.9 billion m3 in 2021.

The companies will cooperate globally to focus on revolutionising well integrity during the construction phase by bringing to market the first ever integration of Managed Pressure Drilling (MPD) solutions and Automated Well Control technology.