Upstream news

This will be the third consecutive quarter in which Occidental takes a writedown, bringing the total to as much as US$12 billion in the last nine months, more than half of its market capitalisation.

The FPSO operating the well has the capacity to process up to 150 000 bpd and treat up to 6 million m3 of natural gas.

The three-year contract began on 1 May and will employ 144 Danos personnel in a variety of positions.

Zenith has ceased all oil production operations in Azerbaijan and all field production personnel, approximately 170 employees, have been transferred to a division of SOCAR.

TWI and DNV GL are aiming to address the significant challenge of corrosion in downhole tubing and casing applications in the oil and gas industry.

The new phase of the project, based on the successful completion of a design study last year, will include the design, build and test of enabling technologies that are the backbone of Upwing’s Magnetic Drive System concept for a reliable and retrievable electric submersible pump.

Oil prices fell further this morning, as traders priced in the latest bits of concern about stock builds and the Covid-19 infections surge.

Efforts to find an additional partner for the drilling of the next well in blocks A2 and A5 are ongoing, with FAR working to conclude a farm-out before the restart of the drilling operations.

The platform enabled the customer to automate production monitoring, analysis, and optimisation asset-wide for 1700 electric submersible pump wells.

The agreement also establishes a framework where Proserv and Dril-Quip may pursue joint marketing and collaboration efforts, with Dril-Quip providing subsea trees and Proserv providing subsea controls.