Upstream news

Magseis ASA has announced that it has entered into a service agreement for an operation with its proprietary MASS nodes and MASS modular handling system including seismic data QC and navigation support for a project in North Europe.

SDX Energy Inc., the North Africa focused oil and gas company, has announced that a successful production test has been conducted at its SD-4X appraisal well at South Disouq, Egypt (SDX 55% working interest and operator).

Dril-Quip, Inc. has announced that Dril-Quip (Europe) Limited, its wholly-owned subsidiary based in Aberdeen, Scotland, has entered into a letter of intent with Premier Oil Exploration and Production Limited to provide subsea production systems for the Sea Lion Phase 1 Development located offshore the Falkland Islands. 

API has released its quarterly well completion report for the second quarter of 2018 showing a 265% increase in estimated exploratory gas well completions as compared to the second quarter of 2017.

The agreement aims to deliver fewer interruptions to operations, which will result in benefits for both parties.

The MOU represents a significant step towards signing a binding GSA between the two parties and covers the purchasing by Weston Energy of up to 4 PJ of gas per year for a period of five years.

Global integrated subsea services business, Kreuz Subsea, has announced the appointment of Thomas Liew as the group’s chief financial officer.

Additional payments of up to US$550 million could be payable by Total in case of an improvement in the oil markets in the coming years.

Maersk Drilling has been awarded contract extensions for the high-efficiency jack-up rigs Maersk Resolute and Maersk Resolve by Petrogas E&P Netherlands B.V. and Wintershall Noordzee B.V., respectively.

The latest project comes as OGIC finalises agreements on five new technologies, all of which have the potential to cut operational costs and improve efficiency in the oil and gas industry.