Upstream news

This increase in the EIA’s forecast of crude oil production is largely based on their interpretation of the January 2022 OPEC+ meeting, when participants reaffirmed their decision to continue to increase output by 0.4 million bpd each month until all of the production cuts are reversed.

BCCK, along with its sister company NG Resources, will design and build the facility.

Under the programme, TMK-Premium Service will select and test startup initiatives covering various aspects of premium tubular services for the oil and gas industry as well as the development of high-tech threaded connections and business process optimisation.

The well was drilled about 65 km northwest of Florø and about 60 km north of Gjøafeltet in the northern part of the North Sea.

Woodside has operated in Myanmar since 2013, conducting multiple exploration and drilling campaigns.

The project covers the tie-back of four subsea wells to the Shenandoah host facility through a subsea manifold with dual flowlines and risers.

The 10-year contract comes with options to extend for a further two years and, with those options included, has a total value around US$550 million.

Latest analysis from Westwood Global Energy Group reveals a year-on-year growth for the global offshore rig market at the close of 2021, up 200% from 2020.

The two-month programme covers the Keraudren North Extension with an area of approximately 680 km2 in the Bedout Basin, and the Petrel Sub-Basin 3D survey of approximately 1100 km2.

The increased production is due mainly to production start-up from the Gjøa P1 infill development in February and the Duva field tie-back in August.