Upstream news

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.

Petrofac will provide a five-year framework for Well Management and Well Operator support for 27 wells across the Affleck, Balloch, Dumbarton, Lochranza and Finlaggan fields located in the Central North Sea, UK.

Deployed to support a major Saudi operator, the expandable technology was brought in when water ingress on a producing well led to decreased oil recovery.

Vår Energi and Lundin Energy Norway have joined Shearwater and Equinor to accelerate the development and commercialisation of a sustainable marine vibratory source technology.

The contract covers flexible and rigid pipe, umbilicals, pipeline end terminals, rigid jumpers, umbilical termination assemblies and a mooring system.

Halliburton has reported an adjusted net income of US$320 million in 4Q21, double that from a year earlier, prompting the oilfield services company to lift its dividend following a rebound in crude and natural gas prices.

Wireline logging operations have been completed on the well, with the oil column deemed to be residual and uncommercial.

The Theta West #1 well on Alaska's North Slope is targeting two primary targets which combined are estimated by the company to contain 12.1 billion barrels of oil in place with an estimated 1.4 billion barrels of recoverable resource.