Upstream news

MODEC, Inc. has announced that its subsidiary, MODEC International Inc., has been awarded a contract by ConocoPhillips Australia, as operator of the Barossa joint venture, for the Front End Engineering Design (FEED) of a Floating Production Storage and Offloading (FPSO) vessel for Australian waters.

The Norwegian Petroleum Directorate has granted Lundin Norway AS a drilling permit for well 6307/1-1 S, cf. Section 15 of the Resource Management Regulations.

The company will put the spotlight on how the oil and gas industry will continue to play a major role in the world's energy mix, reliably providing much needed resources and products in a world of growing demand for energy.

The company will design and manufacture 10 fully-rotational torque machines and five high-torque stroking machines for a range of clients who are either expanding into new locations or replacing ageing equipment.

The well T-39, the third well of the three-well drilling campaign at the Company's Taribani complex, situated within the Block 12 license in Georgia, has been sidetracked from the existing wellbore and drilled to a vertical depth of 2800 m into the Eldari A formation.

Following FEED and subject to requisite government approvals, project sanction and an authorisation to proceed with the next phase, SBM Offshore will construct, install and then lease and operate the FPSO for a period of up to 2 years.

The capital expenditures for the project are estimated at NOK 7.8 billion, helping extend the productive life of the Troll field beyond 2050.

This FID adds momentum to Shell’s North Sea production growth, following the decision to redevelop the Penguins field in the northern North Sea.

Panoro Energy has announced that following the progress on commissioning, the Floating, Production, Storage and Offloading (‘FPSO") vessel, BW Adolo has now left Singapore and is in route to the Tortue field, part of the Dussafu block offshore Gabon.

BP and its partners in the Shah Deniz consortium have announced the start-up of the landmark Shah Deniz 2 gas development in Azerbaijan, including its first commercial gas delivery to Turkey.