Upstream news

The company has confirmed its readiness to play a key role in carrying on the continuity of natural gas supply from the two major fields.

The contract award is for engineering, procurement, construction and installation services in the Marjan field, offshore Saudi Arabia.

From first production at the development, Equinor plans to use seafloor based seismic cable permanent reservoir monitoring (PRM) technology to observe what is happening in the reservoir over time to help maximise recovery rates.

LO16/20 includes the Company’s flagship Inishkea prospect which lies immediately to the north west of, and abuts, the producing Corrib gas field in the Corrib Field Petroleum Lease Area.

Petro-SIM 7 will boost the value derived from production management and supply chain optimisation activities and reduce total cost of asset lifecycle simulation.

Terry Larkin possesses more than 25 years’ experience in senior management positions with a track-record in managing transformational change projects, establishing positive reporting procedures and achieving double-digit growth year-on-year.

Block’s interest in the Licence is held via its 100% owned subsidiary Georgia New Ventures, Inc (‘GNV’) which is also party to the Agreement.

Lundin Norway AS has completed the drilling of exploration well 7121/1-2 S, targeting the Pointer and Setter prospects in PL767 in the southern Barents Sea.

The company has announced that it has signed a share purchase agreement to acquire 100% of Marathon Oil U.K. LLC and 100% of Marathon Oil West of Shetland Limited from subsidiaries of Marathon Oil Corporation.

The Colter well (98/11a-6) has been drilled as a vertical well with the Ensco-72 jack-up rig and has reached a total depth of 1870 m MD in the Sherwood Sandstone.