Upstream news

Owned and operated by Saudi Aramco, Safaniya is the world’s largest offshore oilfield located in the Persian Gulf.

The Oil & Gas Innovation Centre has reported that more than 500 jobs will be sustained or created in Scotland over the next six years as a direct result of its support for research and development.

Wood has announced the next phase of a collaborative industry effort to develop a better understanding of the reliability of subsea equipment for use offshore Australia.

The company has attracted backing from three UK-based investment houses, Green Angel Syndicate, Cambridge Angels and Bristol Private Equity Club.

The development programme establishes a 160 gross bpd end of 2019 target for Zink Ranch.

KBR Inc. has been awarded a contract by Basra Oil Company (BOC) for the development of the Majnoon Oil Field in Basra, Iraq.

Total has signed a Memorandum of Understanding (MoU) with the Government of Oman to develop natural gas resources in Oman. This MoU covers both upstream and downstream businesses.

On 15 May 2018, the annual general meeting (AGM) in Statoil ASA will vote on the proposal to change the company’s name, from Statoil ASA to Equinor ASA.

LUKOIL and the Basra Oil Company signed a Development Plan of West Qurna-2 field that provides for an oil production plateau of 800 000 bpd.

Suretank Latin America has designed a new 5000 l portable offshore tank for Petróleo Brasileiro S.A.(Petrobras) which will meet all of the regulations required from all international oil companies (IOCs) operating in Brazil.