Upstream project news

In the short-term, Westwood expects FPS engineering, procurement and construction (EPC) contract awards to reach a total of just over US$5 billion in 2020 – a 59% decline from 2019’s ~US$13 billion.

Keppel has been awarded contracts in Singapore and Brazil.

A Rystad Energy analysis shows the number of drilled wells globally is expected to reach around 55 350 this year, the lowest since at least the beginning of the century.

Head Energy was awarded the frame agreement for modifications at Brage in 2016 and the extension means that the contract now runs to 2022.

Weatherford will project manage the drilling and completion of 20 wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.

The company carried out electrical diagnostics for Serica Energy as part of a multi-year campaign of preventive maintenance on the subsea cable network.

Hydrocarbons were discovered at the Dugong well (PL 882), located in the Norwegian sector of the North Sea, last week.

Similar to the previous downturn, awards for FPSO vessels are set to recover next year, with seven projects likely to be sanctioned according to Rystad Energy.

The contract is for new water treating facilities for North Caspian Operating Company (NCOC) in Atyrau, Kazakhstan.

Mexico's energy ministry has said that Pemex and Talos Energy have 120 working days to present a unification agreement to jointly develop the Zama reservoir in a way that would maximise its value.