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Rowan has confirmed it has been awarded a firm seven-month contract by ConocoPhillips for the N-Class high-spec jack-up Rowan Norway. The contract, still subject to partner approval, is scheduled to start in the second quarter, possibly in May. The deal also includes two options, covering a five-month term and a period of nine months. If ConocoPhillips decides to use both then the rig will have work in Norway through to early-2021. The Norway is currently fulfilling a contract with Turkish Petroleum in the Mediterranean sector, a fixture which Rowan says is due to finish around late-April.
OMV has increased, from 350 million barrels to 440 million bbls, its estimate of recoverable oil reserves in the Wisting prospect, in Barents Sea block 7324/8. The company says it has made a significant effort over the past year to get a better understanding of the shallow Wisting reservoir, in which six wells have been drilled to date. The current development concept for Wisting, discovered in 2013, comprises either a circular or ship-shaped FPSO with a subsea production system consisting of 19 producers and 15 water injectors. Partners are expected to make a final FPSO selection in 2020.
Faroe Petroleum, together with partners Shell and Spirit Energy, are aiming for a drill decision this year on the large UK/Norway cross-border Edinburgh prospect, in UK central blocks 30/14a and 30/14b and 1/6 and 1/9, in PL969, awarded in this week’s Norway APA 2018 round. Partner interests in PL969 are Faroe (operator) 45%, Shell 40% and Spirit 15% and the companies have agreed to equalise their holdings in the UK blocks in line with those in Norway. The equalisation remains subject to certain terms and conditions between the partners as well as completion of the acquisition of Total’s 100% stake in 30/14a.