Aker BP has made a minor gas discovery southwest of the Skarv field in the Norwegian Sea.
Saudi Arabia’s decision to flood the market with crude oil at a time when demand is in doldrums amid coronavirus pandemic is about to create a massive supply-demand imbalance, says BIMCO’s Chief Shipping Analyst, Peter Sand. Liquid fuels production and consumption will be imbalanced during much of 2
In the downturn of 2020, global exploration & production operators will only be able to cut supply chain costs by up to 12%, a Rystad Energy analysis shows.
Tullow Oil has identified further cost savings while its lenders have approved its credit facility with a $1.9 billion of debt capacity.
BP has underlined there will be no layoffs in the next three months as a result of coronavirus cost-cutting.
Ocean Yield, a ship owning company with investments in vessels on long -term charters, has agreed to extend the standstill period with Solstad Offshore and its subsidiaries for two anchor handlers.
Polarcus has come up with a $15 million cost reduction plan to navigate the current uncertainty facing the marine seismic acquisition market due to the combined impacts of the COVID-19 pandemic and oil price volatility.
CNR International (CNRI) has filed its Banff and Kyle fields decommissioning programs for an FPSO and FSO float-off with the UK authorities.
Under Rystad Energy’s updated base case scenario of $34 per barrel in 2020 and $44 per barrel in 2021, global capital expenditure for exploration & production firms is expected to drop by up to $100 billion this year, about 17% versus 2019 levels.
UK oil and gas company EnQuest has received approval from the UK authorities for its decommissioning plan for the FPSO working on the Alma and Galia fields off the UK as well as associated subsea installations and pipelines.
Norwegian Ministry of Petroleum and Energy has proposed to include 36 new blocks in this year’s licensing round in the well-known parts of the Norwegian Continental Shelf – Awards in Predefined Areas (APA) 2020.
Siccar Point Energy has decided to defer its planned sanction date for the Cambo project, located West of Shetland, to 2021 in light of the unprecedented worldwide macroeconomic dislocation resulting from Covid-19.
The Equinor-operated Johan Sverdrup field in the North Sea is expected to reach plateau production for the first phase in early May, earlier than anticipated.
Following successful offshore drilling campaigns, oil and gas company Spirit Energy has boosted production from two North Sea fields.
