Upstream news

Edenhouse has guided the company through a system conversion, moving it from an existing on-premise ECC system to SAP’s next-generation ERP solution, S/4HANA.

As oil prices approach US$70/bbl, Rystad Energy expects that a short-lived price rally through the first half of 2020 will then lose momentum and be replaced by a need for additional production cuts by Russia and the cartel of oil producing countries, OPEC.

The announcement marks the Norwegian company’s move to rethink pre-rig well construction process and design for the subsea template market.

Serica Energy has announced that exploration well 22/19c-7 in the central North Sea is not hydrocarbon bearing.

The project with Equinor is expected to produce revenue of approximately US$1 million over a one-year period.

The transaction increases Pin Oak Energy’s acreage position across the Appalachian Basin to 167 000 net deep acres.

Wildcat well 36/1-3, about 15 km east of the 35/3-2 (Agat) gas discovery, was found to be dry and has now been permanently plugged and abandoned.

The concession covers the Puesto Rojas block in Mendoza province, Argentina.

The Rolvsnes oil discovery is located in PL338C on the southern side of the Edvard Grieg field and is a fractured and weathered granite basement reservoir.

The company has concluded a contract for the exploration and development of hydrocarbons on the Zhenis block in the Kazakh Sector of the Caspian Sea.