Upstream news

As the upstream sector recovers from the 2014 oil price crash and resulting budget cuts, a number of Southeast Asian governments are adapting policies in the sector in the hope of capturing a share of new investment.

Swire Oilfield Services have invested over half a million pounds in the new facility which is approved to NOG091 standards and comprises of 2 acres of yard workshop space and heated storage facilities.

Zoltav, the Russia-focused oil and gas exploration and production company, has provided an update on the Company's exploration programme to assess the resource potential of the Carbonian and Devonian structures in the Western Fields of the Bortovoy Licence, Saratov.  

CGG has commenced acquisition of a large broadband 3D multi-client survey in the pre-salt area of the deepwater Santos Basin.

Otto Energy Limited has provided an interim report on the progress of the completion of the SM 71 F3 well.

Xodus Group has delivered a decommissioning and abandonment study for wells, surface and subsea facilities in Tunisia on behalf of Thyna Petroleum Services (TPS).

Capex into Oceania’s conventional gas and coal bed methane (CBM) projects would add up to US$48.6 billion and US$4.6 billion respectively over the eight-year period.

SDX Energy Inc., the North Africa focused oil and gas company, has announced that an oil discovery has been made at its Rabul 5 Well in the West Gharib Concession in Egypt (SDX 50% Working Interest & Joint Operator).

Europa Oil & Gas (Holdings) PLC has provided an update on its portfolio of multistage licences offshore Ireland, including Licensing Option (‘LO’) 16/20 near the Corrib gas field in the Slyne Basin, where management has elected to fast track an ongoing technical work programme following positive results.

Bibby Offshore, a leading subsea services provider to the oil and gas industry, has announced three individual multimillion pound contract wins with an oil and gas supermajor.