KCA Deutag confirmed on April 24 that its offshore business unit has been awarded an extension to its existing contract with CNOOC Petroleum Europe Ltd. for the Scott platform, which it operates in the U.K. North Sea.
The contract extension, which is for the provision of drilling operations and maintenance services, came into effect on March 1, 2019. It has an initial term of four years plus a two year extension option.
“The UK North Sea continues to be an important area of activity for us and we are committed to working with our partners to ensure that we make the most of the substantial reserves we still have in the UK basin,” Rune Lorentzen, president of offshore, said.
China's crude oil imports hit a record high on a daily basis in November, as refiners operated at high run rates to use up annual import quotas.
Iran's president presented a draft state budget of about $39 billion to parliament on Dec. 8, saying it was designed to resist U.S. sanctions by limiting dependence on oil exports.
Freeport LNG Trains 2 and 3 remain on schedule with Train 3 initial production of LNG scheduled for first-quarter of 2020.