Upstream news

The deal will open up Caspian market opportunities for SA Equip.

Production resumed on 11 July and since testing began the well has produced at an average rate of approximately 360 boe/d (295 bpd plus 390 million ft3/d).

The discovery in the main reservoir is currently estimated to contain between 5 and 25 million bbl of oil in-place. It has not yet been concluded if the discovered oil is commercial.

Delegates at URTeC 2019 have been warned that rapidly rising production in the Permian Basin has led to soaring levels of associated gas, outpacing pipeline infrastructure and placing increasing slowdown pressure on other production streams like crude oil and NGLs.

The approval relates to the Tanumbirini 2H and Inacumba 1/1H wells in Exploration Permit 161 in the McArthur Basin, east of Daly Waters.

The exploration well, located in block 114, Song Hong Basin, offshore Vietnam, has proven the presence of gas and condensate in the Ken Bau prospect.

The two-year contract with Archer (UK) Ltd will see Munro’s Travel provide a full travel management service, including their in-house passport and visa service.

The chemical company has announced sales from continuing operations grew by 4% in local currency in 1H19.

The company has reported adjusted earnings of US$3.15 billion and US$1.13 billion after tax in 2Q19.

Ryan Duman, Senior Analyst at Wood Mackenzie, highlighted the growing expense of water management in the basin and the issue of handling wastewater produced by completed wells.