Zohr 1X NFW was drilled to a total depth of about 4,131 m (13,553 ft)) and hit 630 m (2,067 ft) of hydrocarbon column in a carbonate sequence of Miocene age with excellent reservoir characteristics (more than 400 m of net pay), Eni said in a news release.
Top executives believe the merger creates growth opportunities that could lead to a common operating system for both the surface and subsurface, while expanding Cameron’s presence worldwide.
The transaction will expand Schlumberger’s revenue base by more than 20%, Paal Kibsgaard, the company’s CEO and chairman, said in a press call. Schlumberger expects cost synergies of $900 million over two years.
Cobalt International made huge discoveries in a seven-year period offshore Angola but cedes interest after a federal investigation, low oil prices and uncertainty for all oil producers.
The Climate & Clean Air Coalition Oil & Gas Methane Partnership said it has identified several low-cost, quick-payback projects that lower methane emissions.