Crude oil production in the US has recovered considerably from the lows seen during the first wave of the COVID-19 pandemic and the brief price war between Saudi Arabia and Russia.
The company’s fourth, and largest, project in the Stabroek Block offshore Guyana is expected to produce approximately 250 000 bpd starting in 2025.
PowerNap is a subsea tie-back to the Shell-operated Olympus TLP, located in the US Gulf of Mexico with an estimated peak production of 20 000 boe/d.
Altus Intervention, headquartered in Norway and operating in 11 countries, specialises in fully integrated well intervention solutions, including proprietary technology.
All three companies have said they will fulfil any existing activity in full compliance with applicable international laws and sanctions.
The company's Memory Raptor cased-hole evaluation system has won an Offshore Technology Conference Asia (OTC Asia) Spotlight on New Technology award for OTC Asia 2022 Exhibitors.
The divested assets primarily comprise non-operated properties across west Texas and southeast New Mexico, with estimated production of approximately 7000 boe/d.
With the planned expansion, LongPath will provide real-time monitoring for approximately 60 Apache facilities across multiple areas of the Permian.