Upstream news

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.

Ampelmann will provide two of its latest version L-type offshore access systems to Brunei Shell Petroleum.

Average OPEX per barrel of oil equivalent for deepwater production in the region has more than halved since 2013, from roughly US$26 to US$12.70 in 2020, a Rystad Energy report shows.

Estimated decommissioning costs have, to date, reduced by 19% since the OGA began benchmarking in 2017.

The Bass Strait JV is co-owned and operated by ExxonMobil, which has also put its 50% stake up for sale.

Halliburton will design and implement digital transformation projects to improve efficiency and production in four of PTTEP's offshore fields.