Upstream news

Conventional gas projects will require US$86 billion, while the investments into unconventional gas and coal bed methane (CBM) projects will total US$1.2 billion and US$0.1 billion respectively in upstream Capex by 2025.

SDX Energy Inc., the North Africa focused oil and gas company, has announced that an oil discovery has been made at its Rabul 4 Well in the West Gharib Concession in Egypt.

Saipem has been awarded new contracts in Offshore Drilling involving the sixth-generation semi-submersible rig Scarabeo 8, suitable for harsh environments.

Subsea 7 made premium proposal providing substantial growth prospects, highly visible synergies and investment grade financial profile.

Santos announced that agreement has been reached with their joint venture partners to enter the front-end engineering and design (FEED) phase for the development of the Barossa project to backfill Darwin LNG (DLNG).

The Onsight Cube is a rugged camera that can be worn on a helmet, chest mount or a mono-pod to access high or difficult-to-reach areas, and connects wirelessly via Bluetooth to a handset.

The company has been awarded a 12-month contract worth AUS$1 million, providing leadership training and coaching to ConocoPhillips’ Australia West operation.

Providers of anti-corrosion and contamination solutions, Oxifree Metal Protection offers TM198 – a thermoplastic coating for the protection of metal assets.

Oilfield service sales increased 21% on average for these three bellwether companies, while their oilfield equipment sales increased only 1%.

Oil sands projects will require US$43 billion, while the investments into heavy oil assets will require almost US$4 billion in upstream Capex by 2025.