HitecVision and NEO Energy have entered into exclusive negotiations with ExxonMobil to purchase the company s upstream assets in the central and northern North Sea.
HitecVision and NEO Energy have revealed that they have entered into exclusive negotiations with ExxonMobil to purchase the company’s upstream assets in the central and northern North Sea.
If successful, the negotiations are expected to result in a signed sales agreement in the first quarter of this year, with an expected close later in 2021, HitecVision and NEO Energy noted.
ExxonMobil is responsible for approximately five percent of UK oil and gas production, according to its website. The company has an interest in around 40 producing offshore oil and gas fields in the North Sea, although many of these fields are operated by Shell U.K. Exploration and Production as part of a joint operation, ExxonMobil’s website shows.
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UK/Netherlands: OGA to sponsor Recovery Factor studies
21 Jan 2021
study existing data on oil and gas field recovery factors and create benchmarks.
The benchmarks will be used to predict the performance of current and future reservoirs on the
UK Continental Shelf and gas fields in the Southern North Sea area of The Netherlands.
The pair of students selected will independently employ data analysis and regression analysis to examine existing OGA and EBN data sets and create easily-updatable benchmarking that will allow a quick assessment of fields’ ultimate recovery factor without using reservoir modelling and simulation.
Benchmarking asset performance data, including field recovery factor, is one of the four core elements of the OGA’s Asset Stewardship Strategy, and this work will build on previous recovery factor benchmarking studies from both OGA and EBN.
Deep Casing Tools secures new investment to accelerate global growth 1/20/2021
ABERDEEN - Deep Casing Tools has secured new investment of £1.6m from Scottish Enterprise and its long-term backer, EV Private Equity, which will help the firm build on its global success of the last two years.
DCTâs growth is attributed particularly to its robust technology pipeline, and this funding will support DCTâs strategic R&D plans to develop and commercialize further innovations that will allow operators to develop assets safer and more efficiently. The investment will allow the firm to increase CAPEX investment and bring new technologies to the global market.
Spirit Energy to drill new well at Grove Field
édité le 13/01/2021 - Plus de news de Spirit Energy - Voir la fiche entreprise de Spirit Energy
Spirit Energy will drill a new well in the Grove North East area. If the infill well is a success, the life of the Grove field could be extended by five years to 2028.
Neil McCulloch, Executive Vice President, Technical & Operated Assets, at Spirit Energy, said: The infill well is planned to target the un-appraised north-eastern limb of the Grove field and has the potential of delivering 4.2 mmboe net additional reserves. Further, it could add five new years to the life of the Grove field and improve the prospect of additional opportunities in the area.