In a time of intense capital discipline within the oil and gas industry, many operators are turning to well interventions as a way to maximize the value of producing assets. However, more innovative thinking is needed to help make interventions more effective in the near- and long-term future.

In the current economic environment, adoption of digital technologies will likely prove critical as companies along the oil and gas supply chain are forced to seek new ways to further improve efficiencies and lower costs.

Among the contracts announced was a five-year, $75-million deal with a major operator for work in southeastern Europe starting next year. The company also announced contracts for three land rigs in Pakistan with a combined value of more than $12 million.

Neptune’s revised estimate of the indicative recoverable resources is 40-108 MMBOE, down from the 40-120 MMBOE it had originally estimated upon announcing the discovery. The operator expects to submit a development plan for Dugong by 2022.

The contract is expected to start in July and has a firm duration of 270 days, plus options that add up to 90 days of additional intervention work at the Valhall Field in the Norwegian sector of the North Sea. The firm contract value is approximately $33.4 million.

The API has released a robust policy framework of industry and government actions to address the risks of climate change while meeting the world’s long-term energy needs. Ahead of the 26th Conference of the Parties (COP26

As part of the deal, which is expected to be completed in April, Noble will move to dispose of the Pacific Bora and Pacific Mistral drillships. No changes to Noble's Board of Directors or executive management team are anticipated following completion of the deal.

The new specification provides a basis for obtaining and retaining DNV statements and certificates for the endorsement of facilities and digital products/services, as well as qualification of manufacturers, build processes, parts and part families, among other things.

The consortium says that the open source, standards-based data platform will "stimulate innovation, industrialize data management and reduce the time to market for new solutions" in the energy industry. The Open Group OSDU Forum includes companies such as Shell, BP and IBM.

Preliminary estimates place the size of the discovery, which was drilled by Seadrill's West Hercules semi-submersible drilled approximately 3 km southwest of the Fram field, between 75-120 million BOE.