Industry News

Reliance Industries has awarded a binding Letter of Award to Transocean for the Dhirubhai Deepwater KG1 for six wells offshore India. The estimated 300-day program is expected to commence in the second quarter of 2026 and is estimated to contribute approximately $123 million in backlog, excluding additional services and a mobilization fee.The award also includes multiple options. If all options are exercised, the rig would remain in India through the end of 2029.（2024-09-06）

SLB has launched a well integrity assessment solution that helps carbon storage developers quantify the risks associated with wells at prospective storage sites with previous drilling activity.Carbon capture, utilization and storage (CCUS) provides one of the most immediate opportunities for reducing emissions. Establishing secure storage sites is essential to enabling growth of CCUS and creating a low carbon energy ecosystem. SLB’s methodology for quantifying the probability and potential impact of carbon leakage helps customers understand the risks associated with each well, informing remediation strategies and ultimately estimating the project’s long-term viability.SLB’s well integrity assessment solution incorporates advanced failure mode effect

Carbon Catalyst Limited has announced the mobilization by the Poseidon partners of the Petrodec HAEVA offshore workover rig, now on location at the Leman Hotel wellhead platform in the UK Southern North Sea.This marks the beginning of the company’s preparatory well operations, setting the stage for the commencement of the UK’s first CO2 well injection test later this year. This 30-day operation entails the workover of the Leman 27H gas production well and completion of the well into a CO2 injector.Poseidon envisions the permanent geological storage of approximately one billion tons of CO2 into the UK’s largest depleted gas field,

Chevron has announced that it started oil and natural gas production from the Anchor project in the US Gulf of Mexico. Anchor production marks the delivery of high-pressure technology that is rated to safely operate at up to 20,000 psi, with reservoir depths reaching 34,000 ft below sea level.“Application of this deepwater technology allows us to unlock previously difficult-to-access resources and will enable similar deepwater high-pressure developments for the industry,” said Nigel Hearne, executive vice president, Chevron Oil, Products & Gas.The Anchor semi-submersible floating production unit (FPU) has a design capacity of 75,000 gross barrels of oil (boe) per day

Westgate Energy confirms the drilling of two wells as part of the initial portion of its second-half 2024 drilling campaign. This summer program consisted of two horizontal multi-lateral oil wells drilled at the company’s core Killam property in Eastern Alberta.The program’s first well was drilled using a four-leg, open-hole horizontal design targeting the Mannville Sparky Formation. The well was drilled in eight days from spud to rig release, with a total of 5,056 m of lateral length drilled within the Sparky Formation. The well was subsequently brought on production 28 July via an on-lease tie-in. The coming weeks of production

Vital Energy has signed a joint purchase and sale agreement with Northern Oil and Gas to acquire the assets of Point Energy Partners, a Vortus Investments portfolio company. Under the terms of the agreement, the two companies will acquire Point Energy’s assets in an all-cash transaction for total consideration of $1.1 billion.Vital Energy agreed to acquire 80% of Point’s assets, with NOG acquiring the remaining 20%. The transaction is expected to close by the end of Q3 of 2024 with an effective date of April 1, 2024, subject to customary closing conditions.The purchase price is substantially underwritten by the value

GA Drilling has announced a joint technical program with Cenpes, Petrobras’ research, development and innovation center. The partnership pairs Petrobras with GA Drilling’s downhole anchoring and drive system that will form the cornerstone of an advanced autonomous reeled drilling system.The collaboration aims to enable deep and complex offshore wells to be drilled from a light well intervention vessel rather than a more costly semi-sub or drill ship, saving 30% of well construction cost. GA Drilling’s system improves drilling efficiency and enables the replacement of conventional drill pipe with reeled continuous tubing, thus minimizing pipe handling hazards, tripping times, and well

The UK Government’s North Sea Transition Authority (NSTA) has awarded Parkmead a P2634 license located in the Outer Moray Firth and comprises blocks 14/15a, 14/20d and 15/11a.Parkmead (50% interest and operator), together with its joint venture partner Orcadian Energy (50% interest), will work toward commercialization of Fynn Beauly, one of the UK’s largest undeveloped discoveries. This heavy oil accumulation has been proven by three wells and is estimated to contain oil-in-place of between 740 million and 1.33 bboe.The partnership will now determine whether a technically and economically viable development can be delivered within the NSTA’s Net Zero Strategy. By undertaking