Upstream news
PGS: Q4 2017 multiclient revenues of approximately US$170 million - EBITDA above US$100 million
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.
LEKOIL Limited: Contract signed to acquire 3D seismic for Phase Two
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 extends multi-client collaboration and vessel agreement with TGS
Polarcus has extended the agreement with TGS for an additional year.
Range Resources: Trinidad operational update
The recently drilled well located at the Beach Marcelle field has been successfully put into production and is flowing at a stabilised rate of 120 bpd on a restricted choke of 5/32 in.
Otto Energy: SM 71 F2 well completion and new SM 71 F3 well to be drilled
First Production from F1, F2 and F3 wells expected early March 2018
Shell to retain ownership of A/S Dansk Shell
Shell has revealed that the sale of the unit has been terminated and will not complete.
Maersk Drilling announces four year contract with Tullow Ghana
The contract, which was signed December 2017, is expected to commence in February 2018 and covers development drilling on the Jubilee and TEN fields offshore Ghana.
Tethys Oil AB: production update
Tethys Oil AB has provided an production update for its operations in the Sultanate of Oman.
SafeSTS creates Brazilian company
The move is a response to increasing demands for ship-to-ship transfers to support Brazil’s soaring oil exports.
Trelleborg wins Oil & Gas Engineering Product of the Year Gold Award
Trelleborg is the first company to win the Oil and Gas Engineering Product of the Year Gold Award for its newly developed Standardized Buoyancy Module.