Upstream news

The first exploration well on Orinduik is to be drilled in late May - early June 2019, on the Jethro-Lobe prospect.

The programme spans shallow water and deepwater wells in several regions requiring a combination of jack-ups, semi-submersibles, and drillships.

The companies have signed a binding agreement to swap interests on the Norwegian Continental Shelf.

The company has announced it has bolstered its expanding asset integrity business in Chandigarh, India with more capabilities.

Collaboration of Organization of the Petroleum Exporting Countries (OPEC) and non-OPEC producers in committing and adhering to oil production cuts resulted in the historic Declaration of Cooperation in 2017.

With just 48% of floating rigs under contract presently and more scrapping needed to increase floater utilisation above 70 percent, it’s too soon to be bullish on outlook.

The spudding of the Zama-2 well marks the commencement of the Zama discovery appraisal programme, which will consist of three reservoir penetrations, including two wells and one sidetrack.

The three-year contract includes the option of two one-year extensions and the project is expected to commence in December 2018.

The company has announced that the contract for the Noble Tom Prosser jack-up drilling rig has been secured.

During this period OMV will continue to benefit from onsite access to CGG’s subsurface imaging and reservoir characterisation expertise and technology.