Upstream news

Faroe Petroleum has announced that it has been awarded four new prospective exploration licences, including two operatorships, under the 2016 Norwegian APA (Awards in Pre-defined Areas) Licence Round on the Norwegian Continental Shelf.

Baker Hughes and Schlumberger will be awarded the contracts for integrated drilling and well services on the Cat J rigs Askepott and Askeladden. The rigs will perform work at Oseberg and the Gullfaks.

Cairn intends to announce its preliminary results for the year to 31 December 2016 on Wednesday 8 March 2017. In advance of these results, Cairn is providing information on recent operations and guidance in respect of the Group’s trading performance in 2016.

Tullow Oil has announced that the Erut-1 well in Block 13T, Northern Kenya, has discovered a gross oil interval of 55 m with 25 m of net oil pay at a depth of 700 m. The overall oil column for the field is considered to be 100 to 125 m.

Utgard is a gas and condensate field on Norwegian and UK continental shelf while Byrding is an oil and gas field north of the Troll field.

One year after the licence award Statoil has made an oil and gas discovery close to Norne estimated at between 20 and 80 million bbls.

Farm-out of 10% interest on 2 for 1 promoted basis with farm-out option of further 10% on promoted basis. Dempsey-1 scheduled for drilling in April-May 2017, targeting 1 trillion ft3 conventional reservoir gas underneath a producing field.

As President Obama leaves the Oval Office on Friday, he leaves a legacy of mixed fortunes for the energy industry.

The Willow discovery wells, Tinmiaq 2 and 6, were drilled in early 2016 and encountered 72 ft and 42 ft of net pay, respectively, in the Brookian Nanushuk formation.

Cyberhawk Innovations has been recognised as a finalist at the 2017 Offshore Achievement Awards for the categories Safety Innovation and Export Achievement.