Upstream news

The Guyana investment strategy continues to yield positive results; additional exploration wells planned later this year, while production from two vessels currently operating offshore has exceeded their initial combined target of 340 000 bpd.

ZMI Holdings has announced that ADNOC Logistics & Services), the shipping and maritime logistics arm of ADNOC Group, has entered into definitive agreement to acquire ZMI. The transaction is subject to customary regulatory approvals and is expected to close in 4Q22.

The project is expected to come online in the mid-2020s, and at peak production rates, could represent over 6% of projected UK North Sea gas production in the middle of this decade, with operational emissions of less than 1% of the whole UK basin.

The repayment leaves the Company debt free, with significant cash on hand, further cash due from the imminent lifting from the FPSO, and ongoing cash generative production from the Lancaster field.

This marks an important milestone in the development of Fenja, which is scheduled to come on stream in the first quarter of 2023 and will produce approximately 28 000 boepd at plateau.

The five-year agreement, which also has two, two-year extension options, will see Sparrows deliver crane operations and maintenance services across 10 of the operator’s assets in the region.

Strohm accepted the Subsea Pipeline Technology Award after impressing the judges with its TCP solution and new innovative fully bonded weight coating designed to keep the pipe steady during the laying process and provide stability on the seabed thereafter.

The company plans to reactivate the S. Antonio-1 well, with an expected initial production rate of 1300 cubic metres of natural gas per day.

To protect Oil India’s data centres, Juniper’s SRX4200 Service Gateways, Security Director, and Junos Space Network Director were selected to configure and manage application security, intelligence and policies across its networks.

Tracerco’s Profiler is set to be installed by September this year into the slug catcher vessel, which provides a buffer volume to accommodate the intermittent high liquid flow in the form of a slug.