Fossil Energy
Oil price war and coronavirus bite into Noble’s rig contracts
The oil price war and the coronavirus pandemic are already taking their toll on the oil and gas services market, with offshore drilling contractors among the most affected segments. One of the major drillers, Noble Corporation, has seen its contracts shortened, rigs stacked and put on standby, and d
U.S. weekly offshore rig count unchanged two weeks in a row
The number of offshore rigs in the U.S. has not changed for two weeks in a row now and is stuck at 18 units, according to a weekly rig count report by Baker Hughes.
Equinor farms out two Norwegian licences to Lime Petroleum
Lime Petroleum has signed an agreement with Equinor to acquire 20 per cent interests in each of the licences PL263D and PL263E located in the Norwegian Sea.
Offshore drillers will be living on the edge, Rystad analysis shows
The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling, in particular, is among the most affected industry segments, according to energy intelligence firm Rystad Energy.
Petrobras looking to cut costs through severance plans
Petrobras has made plans to achieve additional cost reductions through its incentive retirement and voluntary severance programs, which will affect around 3,800 employees.
Prosafe in talks with operators over possible contract changes
Prosafe, a provider of semi-submersible accommodation rigs, is in talks with operators related to potential contract changes for its units.
World’s top exploration wells at risk, Rystad says
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war, a Rystad Energy impact analysis shows.
Shell extends contract for Petrojarl Knarr FPSO
Shell has awarded a contract extension to the Petrojarl Knarr FPSO owned by Altera Infrastructure, previously known as Teekay Offshore. However, some of the terms of the contract have been changed, including a reduction in dayrate.
Energean sees uplift in Karish North volumes, adds to development plan
An independent competent persons report for Energean’s Karish North field, located offshore Israel, has revealed a significant uplift to the company’s previous best estimate of the field’s volumes and submitted an addendum to the field development plan.
Kosmos sheds light on Greater Tortue Ahmeyim delay
Dallas-based Kosmos Energy noted that the Coronavirus impact on time-critical workstreams resulted in the delay of the Greater Tortue Ahmeyim LNG project’s timeline delay.
Seadrill gets NYSE listing warning
Offshore drilling contractor Seadrill Limited has been given a continued listing standard notice from the New York Stock Exchange.
Norway: 10 exploration wells put on hold as low oil prices and coronavirus bite
Exploration activity offshore Norway has been reduced and 10 wildcat wells previously planned for this year will be delayed due to the coronavirus crisis and the sharp decline in oil price.
Ineos delays Forties pipeline shutdown
UK’s Ineos has decided to postpone its planned shutdown of the Forties pipeline system until the spring of 2021.
Giant Pioneering Spirit vessel put in charge of removal and disposal at Valhall
Aker BP has awarded a call-off for removal and disposal of multiple installations in the Valhall area in the North Sea to Allseas.