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Oil And Gas Updates: 17 January 2019


General

Crude prices currently have risen by more than 20% from annual lows reached at the end of 2018, on signs the global oversupply is being brought into balance. Oil (WTI) opens at $52.18 on Thursday Jan 17, 2019


Australia

Subsea Integration Alliance awarded integrated EPCIC contracts


China

CNOOC commences production at the Huizhou oil field project in the South China Sea: There is one well currently producing and the project is expected to reach its peak production of approximately 19,200 bopd in 2020


Norway

Faroe announces Edinburgh Prospect Partnership with Shell and Spirit following APA 2018 award


Saudi Arabia

OPEC oil production sinks in December as Saudis cut output more than expected. OPEC’s oil output falls by 751,000 barrels per day to 31.6 million bpd in December


United Kingdom

Equinor to drill Verbier appraisal well with West Phoenix rig


United States

  • Permit to drill approved for 88 Energy's Winx-1 well, North Slope of Alaska

  • Oil Search's Pikka B well in Alaska encounters hydrocarbons in the Nanushuk formation