Upstream news

Equinor’s preliminary estimate of recoverable resources in the Egyptian Vulture discovery is 19 to 63 million boe (gross) and the oil-in-place volume has been estimated at 220 to 440 million boe (gross).

Winners to be awarded a share of the fund will be announced in early December, with work to be completed by 31 March 2021 and project reports to be published in 2Q22.

The aim of the Odfjell Collaboration Alliance is to provide a complete service offering of rig, modular rig, jacking unit, wireline, plugs and all other services needed to successfully execute projects within P&A or slot recovery operations.

ADC’s recent project highlighted that Dynamically Positioned rigs operating in a closed-bus configuration can successfully reduce annual CO2 emissions by 4800 tpy – delivering a fuel saving of US$620 000 per year - while reducing engine running hours by 20%.

The company has signed an agreement to acquire the semi-submersible drilling rig Leo from Aquadrill LLC for a total consideration of US$14 million.

Expected recoverable reserves in Yme are estimated to be approximately 10 million standard cubic meters of oil – or 63 million barrels.

Fenja is scheduled to come online in the first half of 2023 and will produce approximately 28 000 boe/d at plateau.

The strategic collaboration has a global scope, with an initial focus on the North Sea.

Fugro will help OCS Services deliver on ONGC’s Protective Coating of Process Platform Project 1 (PCPP1), an infrastructure project to maintain and refurbish 32 offshore platforms in seven clusters.

The FEED award from Equinor follows the successful completion of a study phase, and the work starts immediately with planned completion in 3Q22.