Brent crude oil prices reached highest levels since March as news of another promising coronavirus vaccine raised hopes of a quicker recovery in oil demand, while U.S. President-elect Joe Biden received the go-ahead to begin his leadership transition.
EnQuest expects its production for the year to be below its guidance range due to an incident and a resulting unplanned outage in Malaysia.
Investments from global E&P in 2021 are projected to reach around $380 billion, almost flat year-on-year, a Rystad Energy report shows.
The Organization of the Petroleum Exporting Countries (OPEC) has lowered its 2020 oil demand forecast to negative -9.8 million barrels a day.
Total and Jadestone Energy have decided to relinquish and terminate its Service Contract 56 offshore Philippines following a decision not to drill a well.
State-owned PetroVietnam has started pumping first gas from its Sao Vang-Dai Nguyet field off Vietnam’s southern coast.
Following the Covid-19 pandemic and the oil price crash in early 2020, for some players in the oil and gas sector consolidation may be the only way to stay solvent.
Subsurface Imaging, part of CGG’s Geoscience division, has secured two large-scale seismic reprocessing contracts from PTTEP. Over the course of the next year, CGG, through its offices in Kuala Lumpur, will conduct merged reprocessing of surveys from many vintages, including towed-streamer as well a
Despite concerns that Covid-19 could drive down discovered volumes to their lowest levels in decades, exploration activity has been resilient this year with discovered resources set to hit 10 billion boe in 2020.
Following a recent one-well contract award, Maersk Drilling has now also secured a one-well extension for the Maersk Viking drillship with Shell in Brunei.
Shelf Drilling is selling five of its stacked drilling rigs. The rig owner has also won a couple of new gigs while some contracts have been suspended.
Carnegie Clean Energy has signed a memorandum of understanding with Oceantera to explore renewable energy opportunities of mutual interest in Southeast Asia region.
