The offshore industry briefing
The latest news, trends, and data you need to know about this month
News in Numbers
$122bn
Abu Dhabi National Oil Company has secured approval from Abu Dhabi’s Supreme Petroleum Council to invest $122bn over the next five years to expand the region’s hydrocarbons sector.
2
US-based oil extractor Talos Energy has announced that it was the ‘apparent high bidder’ on two deepwater blocks in the Outer Continental Shelf Federal Lease Sale 256.
$455m
Norwegian firm Equinor, alongside partners ExxonMobil and Petrogal Brasil, has awarded drilling and well service contracts valued at about $455m.
2023
Norwegian Energy Company has announced the postponement of the first production from the Tyra Redevelopment project in the Danish part of the North Sea. Due to the ongoing Covid-19 pandemic, production has been delayed from 2022 to Q2-2023.
$750m
Australian liquefied natural gas operator Santos has secured a $750m five-year bank loan that will mature in January 2026.
Project updates
Denmark-based offshore drilling contractor Maersk Drilling has secured a contract from Brunei Shell Petroleum (BSP) to drill one deepwater exploration well.
Australian firm Woodside Energy has announced that the Commonwealth and Western Australian Joint Authority have granted petroleum production licences to the Scarborough joint venture.
ABB and OneSubsea have announced the successful trial of a subsea power component, a key accomplishment in the firms’ ongoing attempts to develop an effective underwater power distribution network.
Danish drilling-rig operator Maersk Drilling has secured a contract for its jack-up rig ‘Maersk Resilient’ to drill wells at the North Sea fields.
French oil major Total is reportedly looking to sell stakes in a number of oilfields in Angola where production is generally ‘more complex and expensive’ compared to other basins.
Further reading
How Premier Oil faced 2020 and beat the broker’s bets
At the start of 2020, mid-level UK operator Premier Oil aimed to take over some brownfield assets from oil giant BP. By the end of the year, the company will have gone from one of the UK stock market’s largest-ever short sells to a massively changed business about to shed more than $2bn in debt.
Read more: Offshore-Technology
