Upstream news

The drone attack on the world’s largest oil processing facility, Abqaiq in the heart of Saudi Arabia’s oil industry, forced Saudi Aramco to shut in 5.7 million bpd of crude production.

Analysis of the logs, use of offset comparison data and cut-offs, in conjunction with advanced wireline tools has indicated an increase in net pay of 17 m, which brings the total net pay to 58 m using the cutoffs from the nearby Waitsia field.

The biggest M&A deal of 2Q19 was Occidental Petroleum’s acquisition of Anadarko Petroleum for US$55 billion.

US Light Tight Oil (LTO) represented less than 1% of global oil supply nine years ago but now represents close to 10% of total global oil supply, a percentage which is expected to continue its ascent going forward.

The MoU between STATS, Sakhalin Energy and OOO INTRA Services Company was signed during the Eastern Economic Forum in Vladivostok, which was attended by Russian Federation President, Vladimir Putin.

The work will utilise the company's ultra-high-pressure abrasive cutting solution.

Crondall Energy will deliver a Concept Select study for Pharis Energy’s heavy oil Pilot Field development in the Central North Sea.

The Africa-focused oil and gas company has released its interim results for the six months ended 30 June 2019.

The 6-month project will cover approximately 8500 km2 and will be acquired by the Amazon Warrior using 14-streamers and Flexisource triple source.

Drilling Systems has launched a new licence-based pricing model which will cut the overall cost of entry level simulator technology by more than half.