Upstream news

EIA now forecasts Brent crude oil spot prices to average US$51/bbl in 2017 and US$52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be US$2/bbl lower than Brent prices in 2017 and 2018.

Westwood Global Energy Group, the energy market research consultancy, has released new statistics for exploration in the Asia-Pacific region which show that green shoots of recovery are starting to appear.

Exxon Mobil Corporation has signed a production-sharing contract for Block 59 in Suriname with Staatsolie Maatschappij Suriname N.V.

HIMA has recently announced Servelec Controls as its approved oil and gas-focused systems integration partner in the UK.

Aker BP has received consent to drill two exploration wells in the North Sea.

Xodus Group has won a contract with Cairn Oil and Gas of Vedanta Ltd to conduct exploration and appraisal work on its Rajasthan block in north-west India over the next two years.

Statoil has signed agreements to enter two additional offshore exploration licenses in Suriname. The agreements cover two blocks in the Guyana basin

The company has completed six wells and is drilling the seventh one. The average daily production exceeded 14 thousand tonnes of oil last June.

The Barryroe Partners have been granted a two year extension to the term of the first phase of SEL 1/11 to July 2019 and overall term to July 2021.

Statoil Brasil Óleo e Gas has awarded Seadrill Limited a contract for one well and one drill stem test for the West Saturn.