Upstream news

Rystad Energy is predicting that North Sea oil production will drop next month to the lowest level since August 2014.

The winning companies offered bids totalling US$724 million, the government said in official statements, and won the rights to explore for up to 13 years in areas of the South Atlantic.

The contract relates to the company's recently acquired jack-up rig, Shelf Drilling Achiever.

The assets could be worth as much as US$1.5 billion.

The company's interest has been sold to the existing partners in the Block 5 exploration licence, subsidiaries of Murphy Oil Corporation, Wintershall Dea and Petronas.

Construction work has now started on the field’s second processing platform.

The partnership aims to acquire large, high-margin oil and gas production and development assets across the Lower 48 states of the US.

Craig Roberts will be based in the company’s Perth office, in Australia.

Fairfield Decom’s clients will have direct access to the expertise and assets of Decom Energy, Heerema Marine Contractors and AF Offshore Decom.

The inspection technology digitises inspection workflows by leveraging automation, overhauling the current paper-based and outdated manual process.