Upstream news

From flood declining conventional and offshore wells to the water injected to fracture underground shale to the steam required for oil sands extraction, water is the most important input to the oil and gas industry.

Sparrows Group has secured a three year contract to deliver fixed crane maintenance and lifting and rigging services for the INPEX-operated Ichthys liquefied natural gas (LNG) project in Australia.

The Weatherford AutoFrac® RFID-enabled stimulation system has been recognised by the 2017 Spotlight on New Technology Awards, which are formally presented during the Offshore Technology Conference (OTC).

Yesterday the Kingdom of Saudi Arabia announced that the tax rate for the petroleum industry would be reduced from 85% to 50%. This change implies that more money is left for the Saudi Aramco, which makes the company more attractive for investors.

Scott Lehmann, Petrotechnics, states that now article 50 has been triggered, Brexit may well be a silver lining for the UK oil and gas industry.

Oil and gas completions company, Tendeka, celebrates its most recent win after being awarded a two-year contract extension with a leading Malaysian operator.

Wintershall Norge AS is the operator of the Maria field, an oil and gas field at Haltenbanken in the Norwegian Sea, around 230 km from the Trøndelag coast.

Gross 2P reserves for the Taq Taq field as of 28 February 2017 are estimated by McDaniel at 59 million bbls, compared to 172 million bbls at 31 December 2015.

Hurricane Energy plc, the UK based oil and gas company focused on hydrocarbon resources in naturally fractured basement reservoirs, has announced that operations on the 205/23-3A well are complete.

BP has announced another gas discovery in the North Damietta Offshore Concession in the East Nile Delta, Egypt. The Qattameya Shallow-1 exploration well was drilled to a total depth of 1961 m in water depth of ~108 m using the El Qaher II jack-up rig.