Upstream news

Over US$811 billion will be spent on 615 upcoming oil and gas fields between 2018 and 2025.

Sembcorp Marine Ltd has announced that its wholly-owned subsidiary, Sembcorp Marine Rigs & Floaters Pte. Ltd., has secured a contract from TechnipFMC to undertake the Engineering, Procurement and Construction of Hull and Living Quarters for a newbuild Floating Production, Storage and Offloading vessel (FPSO).

Pioneer Natural Resources Company announced that it has signed a purchase and sale agreement with Sundance Energy, Inc. to sell approximately 10 200 net acres in the western portion of Pioneer’s Eagle Ford Shale acreage position for US$102 million, subject to normal closing adjustments.

Total announces first gas from the Timimoun field in southwestern Algeria. The production complex with a capacity of around 5 million m3 of natural gas per day at plateau (around 30 000 boepd, is jointly operated by Sonatrach (51%), Total (37.75%) and Cepsa (11.25%).

Neptune has announced the award of subsea stabilisation services for the Daman field development project in Mumbai High, India.

Minor oil discovery north-west of the Gjøa Field in the North Sea – 35/9-13, 35/9-14 and 35/9-14 A

Petróleos Mexicanos and Lewis Energy México signed the first Integrated Exploration and Extraction Contract (CSIEE) for the Olmos field, which is located in the state of Coahuila. The purpose is to assess and develop the Eagle Ford field in Mexico.

Cadogan Petroleum plc, an independent, oil & gas company listed on the London Stock Exchange, has announced that production from the Blazh-3 well in the Monastyretska license has increased from 45 bpd to circa 125 bpd following the successful completion of a workover to re-perforate some of the old intervals and open new ones.

A leading energy economist has predicted that total field expenditures in the North Sea could amount to £268 billion over the next three decades.

CGG GeoSoftware has donated its Jason and HampsonRussell seismic reservoir characterization software suites to Delft University of Technology (TU Delft) in the Netherlands.