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In the upstream business, approximately US$11 billion is forecasted to sustain and grow currently producing assets, including about US$4 billion for Permian unconventional development and about US$1 billion for other international unconventional development.
The acquired fields, which are mostly operated by Equinor, will add additional daily production of approximately 150 000 bpd for the company, which is owned by Eni and HitecVision.
Dave McKendrick, Baker Hughes, demonstrates how industry partnership models are marking a new era for extending life of field.
The contract will see Aker Solutions deliver front-end engineering and design (FEED) for the first platform in a potential series of future assets within BP’s Trinidad and Tobago (BPTT) portfolio.
The survey was performed in August in water depths of 600 m using the Fugro Equator, a dedicated geophysical survey vessel, and the Fugro ES-V AUV, and completed with zero HSSE incidents.
The winning bids commit the company to an exploratory work programme, including geological studies, seismic and wells over a three-year phase (Phase 1) on each of the exploration contracts.
Both contracts were awarded by Baker Hughes, under a primary term of two years firm and an option to extend for another six months.
The newly elected board will operate under the leadership of chairman, Bill Edgar, and chief executive, Neil Gordon, with a focus on ensuring the UK is represented across the global subsea industry.
The well management and performance improvement company posted its annual results (year end to 28 February 2019), reporting that pre-tax profit has increased from £365 000 to £2.3 million.
Effective immediately, the new partnership is a global non-exclusive agreement that will see InterMoor support Neodrill with project execution, installation services and business development of its CAN technology.
The coating is designed to help underwater infrastructure continue to meet expected standards.
To overcome the challenge of low recovery factors in shale reservoirs, independent global completions service company Tendeka, has launched ShaleModifier.