Upstream news

More than 80% of exhibition space for SPE Offshore Europe 2019 has been sold, according to the event’s organisers.

The sale transaction comprises Shell's permits NT/Rl2 and NT/RL4 within Australia waters and PSC 03-19 and PSC 03-20 within Timor-Leste waters and associated governance agreements.

The company announced that it has completed the drilling phase of the A11 #2 well in its Orogrande Basin drilling programme with operator Maverick Operating and drilling partner Wolfbone Properties.

The new contracts have lifted the company’s orderbook to RM18 billion and total contract wins to-date for this financial year to RM7 billion.

The Brasse East well is being drilled immediately east of the Brasse field, discovered by Faroe in 2016 and appraised in 2017.

Coinciding with the keel laying ceremony for its first Fast4Ward™ FPSO hull, SBM Offshore signs the contract for a second hull with SWS shipyard in Shanghai, China.

The German engineering contractor brings along its global technological know-how and expertise to help grow the region’s oil & gas and chemical industries.

Aubin, the chemical solutions provider to the energy industry, has realigned its senior management team to enhance the company’s technology development and support its continued business growth.

PermianChain Technologies is introducing the Permian Token (XPR), a crypto asset-class that will underpin holding rights to the value of potential but undeveloped oil and gas reserves.

Ashley Kelty, oil and gas research analyst at Cantor Fitzgerald Europe, comments on the recent slump in oil prices.