Upstream news

Mitsubishi Corp. and Nippon Yusen Kabushiki Kaisha have acquired a respective 25% and 20% ownership interest in the special purpose companies related to the lease and operation of the FPSO Alexandre de Gusmão.

McDermott has delivered the U-Field for ONGC's KG-DWN 98/2 Block project, located in the Bay of Bengal off the east coast of India.

The exploration blocks are located off the coasts of Sabah and Sarawak.

The well was drilled on the northern culmination of the greater Pavo structure and encountered a 60-m gross hydrocarbon column in the primary Caley member reservoir target.

Economic impact analysis, published in Neptune’s Annual Report and Accounts, revealed the company’s overall European economic impact increased significantly in 2021 – up from US$2.1 billion in 2020 – due primarily to increased earnings resulting in higher taxes paid.

The 83-m high steel jacket, weighing around 8500 t, will also be delivered by Allseas’ Pioneering Spirit construction vessel in April.

The contract includes the provision of Operations and Maintenance support for Spirit Energy’s York platform in the Southern North Sea, and Engineering, Project, and Consultancy services for all of the operator’s North Sea assets.

Flylogix will leverage the funding round to expand to new geographies, including the US, Norway and Trinidad & Tobago.

Significant upgrades have been carried out on the hull and the platform deck of Njord A to extend its lifetime for another 20 years of production.

Altus Intervention, headquartered in Norway and operating in 11 countries, specialises in fully integrated well intervention solutions, including proprietary technology.