Upstream news

The agreement entails a new GustoMSC drilling jack-up design which will utilise the modern manufacturing capabilities currently planned for at IMI.

The total number of registrants is a record for bids in the production sharing regime, surpassing the 16 qualified for the 4th Production Sharing Round, held last year.

Ghasha is aiming to develop previously undeveloped deposits of gas, oil and gas condensate as part of nine shallow fields in the Arabian Gulf west of Abu Dhabi.

The MoU will enable the two petroleum companies to undertake joint technical studies and cooperate in frontier areas.

The company's UK centre of excellence is looking to form partnerships with individuals and companies in Norway to bring oil and gas technologies to market.

The award is for the design and procurement of equipment with construction technical assistance for a seawater treatment plant sized for 263 244 bpd.

A gross gas column of 44.5 m, with an estimated net pay thickness of 25 m, has been identified in the Dombey-1DW1 exploration well with an interpreted gas-water contact in the reservoir.

The assets will provide Neptune with an estimated 30 million boe of 2P reserves.

With US production expected to increase by 1.2 million bpd y/y in 2020, and with domestic refineries already maxing out capacity to absorb shale growth, Rystad Energy expects exports to balloon and reach 4.7 million bpd by the end of 2020 and nearly 6 million bpd by the end of 2022.

The software's risk management module helps identify and quantify project risk considerations that affect cost and schedule selections, offering greater certainty to sectors where budget and project overruns are common.