EMGS has appointed interim CEO Bjorn Petter Lindhom as permanent CEO of the company on May 31.
“The board of directors is very pleased with the strong positive developments in EMGS. As previously announced, the company has secured a number of important awards, including the LOA for a $73 million proprietary acquisition contract for Pemex and the $24 million acquisition contract in south-east Asia, which has further strengthened the company’s leading position within the global EM market,” Eystein Eriksrud, chairman of the board of directors, said.
“The board of directors is very pleased to make Lindhom’s appointment permanent, and look forward to continuing to work together with him and his management team,” Eriksrud added.
Daily production at plateau will be about 43,000 barrels of oil equivalent. Utgard’s recoverable resources are estimated at about 40 million barrels of oil equivalent.
Output will rise to 500 MMcf/d by second-quarter 2020 when five wells are expected to be online, the oil ministry said in a statement.
U.S. oil output from seven major shale formations is expected to rise by 74,000 barrels per day (bbl/d) in October to a record high 8.843 million bpd (MMbbl/d), the U.S. Energy Information Administration (EIA) said in its monthly drilling productivity report on Sept. 16.