Upstream news

United Oil & Gas Plc has provided an operational update on the P1918 licence in the Wessex Basin and specifically the Colter appraisal campaign which has included the Colter North and the new Colter South prospects.

BP and Enpro Subsea have announces the execution of a global frame agreement aimed at providing an enhanced subsea architecture and smart standardisation using Enpro’s patented Flow Access Module (FAM) technology.

Significant increase in production rate at Norio wells 44 and 27, moving the combined current production rate at the Norio and Satskhenisi fields towards 60 bpd, a four-fold increase.

Norway is expected to spend the highest new-build CAPEX of US$21.2 billion on the development of the planned and announced projects, among the countries in the North Sea, during the period 2019 - 2025.

According to Rystad Energy, this turnaround is made possible by the continued rise in oil production from US shale plays and the increased oil export capacity from the Gulf Coast.

The company has extended its concessions for the Ras Budran and Zeit Bay oilfields in the Gulf of Suez.

New research published by DNV GL on the outlook for the sector shows that the sector appears self-assured in its ability to better cope with market instability and long-term lower oil and gas prices.

Byron has closed the previously announced acquisition of the South Marsh Island 58 (‘SM58’) lease block including the SM58 #E1 producing wellbore and the SM69 E platform and flowlines.

Each contract is for engineering studies and includes an option for Woodside to proceed to the execute phase with an engineering, procurement, construction and installation (EPCI) contract.

David Johnson, managing director of Leeds-based Tudor International Freight, has advised the industry’s EU traders to continue preparing for a 'calamity' no-deal Brexit, as this remained a strong possibility and could still occur this month.