Upstream project news

The company has reached an agreement to sell its Romanian upstream affiliate, ExxonMobil Exploration and Production Romania, to Romgaz for more than $1 billion, subject to government approvals.

The outcomes would enhance the UK’s energy security and would ensure that emissions from North Sea oil and gas production remain world leading.

The licences contain two firm wells on the Oswig and Velocette prospects anticipated to drill in the summer 2022 and 2Q23 respectively. All the licences are operated by OMV which will retain a 40% working interest post-transaction.

The company plans to drill the main target horizon, the Sasanof-1 Well, in this prospect during May/June 2022.

The companies have signed a MoU for transfer of the Krafla operatorship from Equinor to Aker BP, making Aker BP the operator of all discoveries in the NOAKA area.

Petrofac has been appointed by PDC as the Decommissioning Services Provider in a contract valued at around US$200m.

MacGregor, part of Cargotec, has secured a contract with Otto Candies to deliver an active heave compensated FibreTrac offshore crane.

Launched in late 2017, this first phase (Mero-1) includes a floating production, storage and offloading unit (FPSO) with a production capacity of 180 000 barrels of oil per day.

Upwing Energy will introduce its new comprehensive integrated End2End (E2E) service boosting production and recoverability in conventional gas wells at the 2022 Offshore Technology Conference (OTC).

1Q22 safety results show a stable trend in the number of serious incidents and with regards to personal injuries. No incidents with major accident potential have been recorded during the first quarter.