Upstream news

The award covers project management, engineering, procurement of anchors for risers and umbilicals and offshore installation activities.

The In-line Compensator has been deployed and operated from a deepwater drill ship in 3500 ft of water.

On 4 January, the Trump administration proposed to make nearly all offshore areas in the United States available for oil and gas exploration drilling.

The business intelligence group’s report reveals a 10 yr low in oil discoveries in Norway and anticipates a shift in focus in the UK to gas in 2018.

Joint venture (JV) project in the southern Delaware Basin expected to be completed by late March 2018.

The KSR-16 well has been connected to the sales line and flow testing is expected to commence early next week. The Company will update the market on the results in due course.

Statoil Petroleum AS, operator of production licence 029 C, has concluded the drilling of wildcat well 15/6-14 S.

Based on a preliminary review of Q4 sales, Petroleum Geo-Services ASA (PGS) expects to report total multiclient revenues of approximately US$170 million in Q4 2017, which should result in a consolidated EBITDA in excess of US$100 million.

The seismic acquisition over Otakikpo is expected to commence in Q1 2018 to kick-off phase two development of Otakikpo. All relevant permits are currently being pursued prior to commencing mobilisation.

Polarcus has extended the agreement with TGS for an additional year.