Upstream news

Bureau Veritas is working towards real time verification for offshore assets with the global expansion of its remote service centres and pilot projects with leading energy companies. 

Film-Ocean has recently invested a six-figure sum in the design and manufacture of its latest compact ROV launch and recovery system (LARS).  

Turkey has discovered its biggest ever natural gas field, holding 320 billion m3 (11.3 trillion ft3) in the Black Sea.

The company is participating in the 2020 Bid Round in the capacity of technical and financial partner to a Nigerian registered oil and gas company.

Oil prices edged down today as, while Covid-19 infections continue to multiply, the market did not receive any bullish surprise from the OPEC+ meeting, while it realised non-compliant members still had way to go to compensate for their overproduction.

As a result, FAR’s stake in the Sangomar Exploitation Area decreases from 15% to 13.67%.

Valaris has reached an agreement with approximately 50% of its noteholders on a prearranged plan that would reduce debt by more than US$6.5 billion.

In direct continuation of its previously announced work scope, the Maersk Integrator rig will move to the Ula field offshore Norway in April 2021 to drill the Ula F – Producer 1 well.

The contract covers engineering, procurement, construction, installation and pre-commissioning of the infield rigid riser and flowlines for production, including the water alternate gas wells.

In the six months to 30 June, ERIELL drilled 638 911 m and built 175 wells, including 103 wells drilled in Russia.