Upstream news

The settlement is in relation to engineering, procurement and construction contracts for the construction of six semi-submersible drilling rigs for subsidiaries of Sete Brasil.

The KP-1 exploration well is located onshore southern Central Kalimantan in Indonesia.

The report by Nalcor Energy-Oil and Gas and Beicip-Franlab, in partnership with the Government of Newfoundland and Labrador has identified an additional 3 billion bbl of oil and 5.8 trillion ft3 of gas potential offshore Newfoundland.

Petrofac will provide facilities and well support to Jersey Oil and Gas' Greater Buchan Area development in the North Sea.

Johan Sverdrup has expected recoverable reserves of 2.7 billion boe and the full field can produce up to 660 000 bpd at peak.

Project management and detailed engineering has commenced at Subsea 7’s office in Aberdeen, with offshore activities scheduled for 2020 and 2021.

The 6th Production Sharing Round is scheduled for 7 November and will offer the Aram, Boomerang, Southern Cross, Southwest Sagittarius and North Brava blocks, distributed in the Santos and Campos basins.

Preliminary evaluation of the Hibiscus Updip prospect in the Dussafu licence offshore Gabon indicates gross recoverable reserves of 40 to 50 million bbl of oil, significantly greater than the pre-drill expectations.

The Tambak-2 well is primarily designed as an appraisal of the southern area of the Mako gas field in the West Natuna Basin, offshore Indonesia.

To be competitive in today's oil and gas industry is first and foremost about upgrading the user experience and not by producing new rigs, says Andreas Grydeland Sulejewski, Neptune Software.