Upstream news

Aker Solutions have been awarded contracts from Statoil to provide subsea production systems offshore Norway, in the North and Barents Sea. Both orders include installation and commissioning support services.

The ONZ-7 well was drilled to a total depth of 1167 m with five m of net conventional natural gas pay in the Hoot formation. The well came in on prognosis but reservoir quality exceeded initial expectations, encountering porosity in the pay section of 35.3%.

Independent petroleum engineers, DeGolyer & MacNaughton, have completed their comprehensive reserve appraisal of the Company’s hydrocarbon reserves as of 31 December 2017.

Rising oil prices have drawn more eyes to the offshore markets. There are signs of green shoots after a period of depressed sentiment that started in late 2014, pushing asset values downwards through 2016.

Petrofac’s Engineering and Production Services (EPS) division has been awarded a new Offshore Manning Services contract by Chevron North Sea Limited (Chevron).

Cairn intends to announce its preliminary results for the year to 31 December 2017 on Tuesday 13 March 2018. In advance of these results,

The Seanamic Group have expanded teams in two Houston-based companies: Umbilicals International (UI) and Flexlife.

The Belgravia prospect lies within the north westerly graticular block of the WA-155-P(1) permit, adjacent to the Swell-1 exploration well.

The mobilisation of this drilling rig is in order to further energy development in Colombia.

The company is to form a new partnership with Cuadrilla and Lucas.