Upstream news

TAG Oil and its joint venture partner (Melbana Energy – 30% WI) have begun operations on the Pukatea-1 exploration well.

BiSN, a producer of metal-to-metal downhole sealing solutions, has been awarded significant investment by the Aberdeen-based Oil & Gas Technology Centre (OGTC).

The contract has been awarded to Alcatel Submarine Networks for permanent reservoir monitoring (PRM) on the Johan Sverdrup field.

The decision authorises the construction of a floating production, storage and offloading (FPSO) vessel, the first new manned installation for Shell in the northern North Sea in almost 30 years.

The two companies have completed the transfer of rights in Lapa and Iara concessions.

The work will be performed with the subsea vessel Havila Subsea from early February onwards.

Aker BP has a strong cash flow outlook and a robust balance sheet with a US$2.9 billion liquidity reserve, enabling the company to increase dividends for 2018 to US$450 million, and further strengthen its position as the leading independent E&P company offshore.

Site activities have been suspended pending repairs and are expected to resume mid-February.

The consideration for the transactions amounts to US$1.95 billion, including closing adjustments.

Early production from the Catcher field in the North Sea is expected to be approximately 10 000 bpd.