Upstream news

The renewal for Admarine 657, which is currently contracted and operating in Saudi Arabia, is effective after the expiry of its existing contract during Q1 2019.

The companies have signed a memorandum of understanding with Western Gas Corporation Pty Ltd to be the exclusive development partners for the Equus Gas Project in Western Australia.

Serenity provides i3 with exposure to low cost and potentially high return upside that could be tied in to either its Liberator Phase I or incremental Phase II infrastructure.

The project, located in the VIC/L1 block offshore Victoria, is part of the company’s continuing investment in the Gippsland Basin.

The acquisition enhances Acteon’s subsea integrity management offering.

Wood Mackenzie's research analyst Jean-Baptiste Berchoteau comments on the announcement by Thailand's Department of Mineral Fuels (DMF) that PTTEP has won the auction round for both G1/61 (Erawan) and G2/61 (Bongkot) PSCs.

Siccar Point Energy has signed an agreement with its existing syndicate of banks to increase and extend its existing Reserves Based Lending Facility.

Adrian Lara, Senior Oil and Gas Analyst at GlobalData, offers his view on the impact on the upstream sector.

Three of Highlands’ projects are now revenue generating. The expansion of East Denver to eight producing wells by the end of this year is expected to deliver sufficient cash flow to cover overhead costs for 2019.

Sercel has been awarded a contract by BGP to supply land seismic equipment for a large onshore 3D seismic survey in the Middle East. The contract includes 100 000 Sercel 508XT channels equipped with strings of 12 SG-10 geophones.