Upstream news

Galp informs that it is in the process of farming-down a 40% participating interest in the Petroleum Exploration Licence (PEL) 82 in Namibia to an ExxonMobil subsidiary.

Full year production at record level and at low cash operating costs resulted in highest operating cash flow and EBITDA to date.

LUKOIL has completed the construction and commissioning of the first well at the Phase 2 of Vladimir Filanovsky field in the Caspian Sea. As of 31 January, the company started to drill an injection well.

Loan agreement finances further development of the Prinos, Prinos North and Epsilon oilfields.

Island Offshore Subsea AS provides Riserless Light Well Intervention (RLWI) project management and engineering services for plug & abandonment (P&A), riserless coiled tubing and well completion operations.

Erin Energy Corporation has announced that it has completed the drilling of the Oyo-NW well and, based on preliminary evaluation, it has discovered hydrocarbons in the Miocene Formation.

Noble Midstream Partners LP and Greenfield Midstream LLC have announced the completion of the acquisition of Saddle Butte Rockies Midstream, LLC and certain affiliates through a newly formed joint venture, Black Diamond Gathering, LLC.

On 31 January, Shell acquired nine exploration blocks for the Mexican Gulf of Mexico in the deepwater bid round.

Following the completion of the acquisition of an initial 25% interest in the Magnus oil field on 1 December 2017, EnQuest PLC has announced it has agreed with BP to undertake the management of the physical decommissioning activities for Thistle and Deveron.

UK Oil & Gas Investments PLC has announced that to focus upon appraising the onshore PEDL331 Arreton oil discovery and satellite exploration prospects, it has informed the Oil and Gas Authority that it will not seek any further extension to the offshore P1916 Licence.