Upstream news

Saad al-Kaabi, the company's Chief Executive, said he expected oil demand to recover to pre-crisis levels only within a year or two.

The Parque das Baleias Area offshore Brazil has reached the mark of 1 billion bbl of oil produced.

The Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project is expected to reach its peak production of approximately 15 681 bpd in 2022.

The Archer Topaz modular rig has been contracted by TAQA to perform a 21-well plug and abandonment campaign for their Northern North Sea Cormorant Alpha platform.

The company has shut in the 205/21a-7Z well as it was unable to achieve its target rate sustainably from the two Lancaster Early Production System wells.

Despite the recent relative oil price recovery, dozens of US operators are still threatened by bankruptcies even at a WTI oil price of US$30/bbl, according to Rystad Energy.

Oil production in April was 1.9% higher than the Norwegian Petroleum Directorate’s forecast.

Aberdeen Drilling Consultants has combined guidance from leading advisory, regulatory and legislative bodies to produce a Covid-19 Resilience Audit.

ABS is providing detailed guidance on navigating the unique regulatory environment for offshore operators in Brazil.

The award includes the provision of general and advanced non-destructive testing and fabric maintenance inspection services across the operator’s onshore and offshore facilities in the Middle East.