Upstream news

Berkeley Engineering Consultants is one of just a handful of organisations supporting the oil and gas sector to have been recognised in The Queen’s Awards this year.

“Through this transformational acquisition, Noreco will become the second largest oil and gas producer in Denmark and establish itself as a considerable exploration and production company in the North Sea,” said Riulf Rustad, Chairman of the Board of Noreco.

The crucial role of technology and innovation in the oil and gas sector will come under the spotlight at the 2019 Future Oil & Gas conference and associated Technology Innovation Showcase.

Interventek aims to complete the project, valued at a six-figure sum, and deliver a function tested prototype by the end of 2019.

Paul Allan, who has more than 10-years’ experience in delivering naval architecture and marine warranty surveying (MWS) to the oil and gas industry, has been appointed to the position by the Scotland-based firm.

Neeraj Zambare and Kapil Mukati, Kongsberg Digital, Norway, explain how a combination of multiphase flow simulation and machine learning is enabling enhanced virtual flow metering and anomaly detection.

The collective depth of these wells is the equivalent of 25 times around the equator – or 2.5 times the distance to the moon.

Delek said it believed that if a deal is reached, it could be completed this year and would be financed through bank loans and its own resources.

The announcement of the 100th project follows the Oil & Gas Innovation Centre in Aberdeen, Scotland, signing agreements to support five new pieces of innovative technology which have the potential to improve efficiency and reduce costs in the oil and gas industry.

The transaction is expected to close in 2H19, subject to regulatory approvals.