Upstream news

The company has announced that drilling at Indico-1 well on the CPO-5 block has reached target depth of 10 604 ft measured depth and has encountered the targeted Lower Sands of the Une formation.

The company has announced that following receipt of necessary approvals, the sale of its interests in the Babbage Area to Verus Petroleum SNS Ltd has now completed.

Afoxé discovery is a further confirmation of the oil exploration potential still held in southern part of Block 15/06, previously considered mainly gas prone.

The company has signed an agreement to dispose of the FSO Belokamenka for recycling in compliance with the Hong Kong Convention.

The integrated business, 'Neptune Energy Norge', will be amongst the top five independent producers on the Norwegian Continental Shelf and will become the operator of the Fenja field development project in the Norwegian Sea.

EM&I – the international asset integrity specialists – recently received a ‘thumbs up’ from a major Norwegian client with an FPSO in New Zealand.

Mark Lomas joins Aqualis Offshore from London Offshore Consultants Limited (LOC) UK, where he held the role of director of shipping.

The independent operator has recently completed three significant acquisitions; an interest in the Babbage gas field acquired from Premier Oil on 6 December.

The supposed cut of 1.2 million bpd by OPEC+ is larger than some had expected, although still some way of what is really required to bring the market back into balance.

Leading ROV and hydrographic survey company, Rovco, has been awarded further funding to develop the next stage of its integrated live 3D vision and artificial intelligence (AI) survey technology.