Upstream news

Despite a slowdown in the number of rigs being added in the shale basins, output targets will be met or exceeded as producers are adding to their hedged positions, according to ESAI Energy’s recently released North America Watch.

In the second annual roundtable hosted by Trelleborg, industry experts agree that the silver lining in the low barrel price is the willingness of the industry to embrace innovative solutions that can lower overall costs while not compromising safety.

FairfieldNodal announces it is in advanced discussions with Thalassa Holdings to acquire WGP Group Ltd., a premier provider of marine geophysical services headquartered in the U.K.

Well-Safe Solutions has announced the appointment of two more directors to lead the recently launched business which aims to become a market-leader in North Sea decommissioning.

KBR will also perform PMC services for the Detailed Engineering phase of the project under a contract awarded by Occidental of Abu Dhabi Ltd. which is jointly managing the project with OMV Offshore Abu Dhabi GmbH on behalf of ADNOC.

The relationship will combine the expertise of a global leader in cloud and digital transformation with a global leader in exploration and production (E&P) science, software and services.

Under the terms of the agreements, KrisEnergy has 60 days to declare a final investment decision thereby signalling the formal launch of the Apsara project, which is expected to take up to 24 months to produce first oil.

Premier Oil has confirmed media speculation that it has reached agreement with a third party for the disposal of its entire 33.8% interest in the Wytch Farm field.

Petrotechnics, the developer of the world’s first software platform for operational excellence (OE), has launched the OE Index (OEI) 2017. Now in its second year, the survey assesses how global trends – such as the oil price and digitalisation – are influencing industry attitudes towards OE.

Australian geoscience company Frogtech Geoscience has announced the release of TERRAFLUX, an innovative multi-client heat flow product, providing a unique new approach to assess regional heat flow variability for petroleum system modelling.