Repsol Sinopec eyes extra 10 million barrels from North Sea assets

22/04/2019 09:59 Oil Market

news

Repsol Sinopec Resources UK has started working on projects across a number of its assets in the UK North Sea that should realize in the region of an additional 10 million barrels of oil equivalent (boe), beginning later this year.

In an update on Friday, Repsol Sinopec said that activity is already under way to reinstate production from the Galley field.

 

A subsea tieback to the Tartan platform, Galley production was halted in August 2012 following a subsea pipeline failure. Repsol Sinopec has said that production is scheduled to re-start in July this year and to continue through at least to cessation of production on Tartan, contributing 1.1m boe at an initial rate of around 1,500 boepd.

 

Galley production also reduces Tartan’s requirement to import fuel gas, thereby contributing to a further reduction in Tartan operating costs and supporting extended operating life, the company explained.

 

Also in the Flotta catchment area, reactivation of the drilling package on Claymore is nearing completion and will be followed by a similar reinstatement on Piper Bravo.

Source: offshoreenergytoday.com

Daily (06.07.2020) NBP spot plunged by almost 5% on Friday influenced by an upward revision of the French nuclear output.

06/07/2020 10:40:00

Crude oil prices lost momentum on Friday, on renewed fears over global fuel demand as U.S reported a surge in coronavirus cases. Nevertheless, signs of improving global economy and OPEC+ record high supply cuts limited the loss. As a result, Brent crude decreased by 0.8% to $42.80 a barrel. Similarly, WTI futures traded 1% lower at $40.24 a barrel.

<READ MORE

Swinoujscie terminal receives 100th LNG shipment

06/07/2020 10:05:00

The Swinoujscie gas terminal in north-western Poland received its 100th liquefied natural gas cargo on Friday. The 90,000 tonnes LNG shipment came from Qatar Liquefied Gas Company Limited (Qatargas) aboard the Al-Safliya LNG tanker.

READ MORE

Russia's Novak sees global oil output cuts easing from August

06/07/2020 09:56:00

Russian Energy Minister Alexander Novak said on Thursday that the OPEC+ group of oil producers is expected to start easing oil output cuts from August as previously agreed.

READ MORE