Capex in the UK’s offshore sector totaled $19 billion last year, according to analysts Wood Mackenzie’s annual UK upstream review. This kept the UK in the top 10 countries for upstream spending globally.
Genel Energy says the SM-1 exploration well on the Sidi Moussa permit offshore Morocco is being P&A’d after encountering oil in fractured and brecciated cavernous Upper Jurassic carbonates.
Italian energy company Eni announced it brought the Nene Marine field into production off the coast of the Republic of the Congo, 16 months after discovery.
On 3 January the Valemon gas and condensate field in the North Sea was brought on stream by Statoil and partners. Recoverable reserves from the field are estimated at 192 million barrels of oil equivalent.