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UK-based oil and gas subsea equipment specialist Express Engineering has announced a six-figure investment in new precision welding equipment and capabilities as it expands its sector operations to support customers.
The Jade prospect has a GCA audited mean in place potential of 225 million bbl and a P10 in place upside of 395 million bbl.
Aker BP, which operates the field, and partner Pandion Energy expect Hod to produce 40 million barrels of oil.
The harsh environment jack-up rig Maersk Resolute will be employed to plug and abandon a total of 31 wells in the Dutch sector of the North Sea.
Based on preliminary estimates the size of the discovery is between 25-50 million bbl of recoverable oil equivalent.
Siemens Energy will supply both the power generation and compression packages for the Petrobras-operated P-78 FPSO.
Surging oil, gas and power prices, the EU’s goals of becoming less dependent on Russian supplies, and post-Covid-19 pandemic inflation will catapult global energy spending this year.
Gas production will be doubled from the Duva field in the North Sea, enabling an increase of 6500 boe/d from the first half of April.
The transaction includes the undeveloped Cambo and Rosebank fields in the UK North Sea.
A Wood Mackenzie report examines the levers the North Sea can pull to increase production and argues indigenous oil and gas still has a major role to play.
Equinor and partner Cenovus Energy have not yet made a final investment decision on whether to build the Bay du Nord offshore project.
Cervantes-1, an oil exploration well in the onshore Perth Basin licence L14, failed to encounter hydrocarbons.