Upstream news

The company has announced the acquisition of an additional 20% interest in the highly prospective 36.5 km2 West Rustavi licence in Georgia, increasing its working interest (‘WI’) to 25%.

The oil and gas industry has vastly accelerated the pace of approving investments for new projects over the past 18 months. New facilities worth more than US$110 billion have been approved for development since the beginning of 2017, versus only US$50 billion in 2016.

Equinor Energy AS, operator of production licence 120, has completed the drilling of wildcat well 34/8-19 S.

Oilfield technology firm Airborne Oil & Gas has commenced a qualification of a TCP Riser for deepwater and dynamic applications for a major operator in South America in collaboration with Subsea 7, effective 26 June 2018. 

IKM have announced that Equinor has awarded IKM Subsea a services contract for ROV’s on at the Johan Sverdrup platform commencing Q3 2018.

Aquaterra Energy, a leader in global offshore engineering solutions, has been selected by Equinor to deliver early well construction operations, via its Well Start solution, for the Johan Sverdrup field. 

Royal Niger Emerging Technologies Ltd, which is based in Port Harcourt, has more than 5 years’ experience in the upstream industry and has already been working closely with Viper Innovations for some time.

44% of industry leaders are actively getting ready for the shift to a lower-carbon energy mix.

The framework covers four main scopes of work; marine riser and wellhead systems analysis, analysis for wellhead fatigue monitoring, completion landing string analysis, and open water work-over riser analysis.

Well lateral lengths in the Permian have increased in average by more than 1500 ft since 2016 to approximately 7500 ft by the end of 2017, says GlobalData.