Norwegian oil production has dropped below predictions made by the Norwegian Petroleum Directorate (NPD) after being above the limit for two months in a row.
BP’s environment plan for the Ironbark-1 exploration well has been approved by the Australian offshore regulator, NOPSEMA, and BP is preparing to drill the well in October 2020.
The Organization of the Petroleum Exporting Countries and its allies, also known as OPEC+, have agreed to curb oil supply from August as the global economy recovers from the COVID-19 pandemic.
Vår Energi is resuming its drilling activities in the Barents Sea and the North Sea, which were postponed this spring due to the corona pandemic and oil price collapse.
UK-based Deltic Energy, previously known as Cluff Natural Resources, has received and unequivocally rejected a takeover offer from the compatriot oil & gas investment firm Reabold Resources.
Transocean has received a contract termination for its semi-submersible Paul B. Loyd Jr. in the UK. Furthermore, Transocean said that the delivery of the Deepwater Atlas drillship from a Sembcorp Marine yard could be delayed.
The COVID-19 pandemic has stymied oil and gas activity, a phenomenon which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment.
Australian energy giant Woodside saw its quarterly revenues drop despite record-high output in the second quarter of 2020 affected by low oil price environment.
OPEC, Russia, and other oil producers are set to meet on Wednesday to decide on the oil output policy from August onward.
OKEA has signed a sales and purchase agreement with Equinor for the acquisition of Equinor’s 40 per cent operated working interest in two licences offshore Norway, which include the Aurora discovery.
Brazilian oil and gas company Petrobras has reached a production record on its operated Búzios field located in the Santos Basin pre-salt offshore Brazil.
Brazilian oil and gas company Petrobras has managed to halve the costs of the post-salt well construction at its Golfinho field offshore Brazil.
Aker BP booked a higher profit in 2Q 2020 on the back of record-high production despite lower income impacted by low oil prices and the coronavirus pandemic.
Head Energy has been awarded an extension of a frame agreement with Wintershall Dea concerning modifications at the Brage platform offshore Norway.
