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The Maersk Reacher jackup's work scope will be transferred on to the Maersk Integrator jackup with an added scope estimated to eight months, which means that Maersk Integrator will be employed until January 2023.

The contract extension has an estimated duration of 100 days, with work expected to commence in March 2022 in direct continuation of the rig’s previously agreed work scope. The contract value of the extension is approximately $20.5 million.

Initial production tests indicate flow rates of up to 2,800 BOED. The Adorf Z16 well is expected to increase Neptune’s production from its license to around 4,000 BOED. The Adorf Carboniferous gas field was discovered in 2020 and the first well - Adorf Z15 -  was brought into production in October the same year.

The company's social and governance initiatives and achievements include employee human capital development and training, strengthening the communities where it operates by hiring locally, partnering with strategic charitable organizations and emphasizing the value of all individuals through diversity and inclusion.

Having previously trialled FutureOn’s technology in 2019, the latest agreement will see Wood provide technical and integration services to operators using FutureOn’s software. In addition, the company will offer the software as part of its suite of technical services to new and existing customers.

Preliminary calculations of the expected size of exploration wells 35/10-7 S and 35/10-7 A indicate between 3.3 and 5.2 million standard cu m of recoverable oil equivalent, or around 21–33 million BOE. The wells were drilled around 8 km west of the Fram field and 140 km northwest of Bergen.

As of 6 January, the company has 66 rigs active in Canada and 50 in the US, representing increases of 38% and 61%, respectively, from the same date in 2021. Precision expects average drilling activity in Canada to be up approximately 40% compared with 2021, while average US activity is expected to increase 60% year-over-year.

Alka Mittal has been appointed Interim Chairman and Managing Director of Oil and Natural Gas Corp (ONGC). Dr Mittal is the first woman to head India’s largest oil and gas producer. Her appointment was approved for a period of six months, with effect from 1 January 2022. Dr Mittal has been serving as Director (HR) since 27 November 2018 and was the most senior director on the Board. Dr Mittal replaces Subhash Kumar, another interim head who retired at the end of 2021. A post-graduate in economics, MBA (HRM) and a Doctorate in commerce and business studies, she joined ONGC as a graduate trainee in 1985. Dr Mittal was the first woman to hold the charge of a full-time Director ...

The Fangtooth-1 and Lau Lau-1 discoveries will add to the Stabroek Block’s previously announced gross discovered recoverable resource estimate of approximately 10 billion BOE. Fangtooth-1 encountered approximately 164 ft of high quality oil bearing sandstone reservoirs, while Lau Lau-1 encountered approximately 315 ft of high quality hydrocarbon bearing sandstone reservoirs.

Horizon56's RigFlow system will standardize and digitalize the core workflows involved in the well construction process within offshore drilling operations, including real-time exchange of information between energy companies’ onshore planning units, the offshore drilling operations teams operating the rig.