Byron Energy has decided to ramp-down production from the SM71 field in the U.S. Gulf of Mexico due to a sharp decline in demand and glut in both international and local supplies.
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.
Southeast Asia’s rig market, which was poised for growth in 2020, is now set for a decline. Several oil companies have already made significant cuts to their 2020 capex budgets due to the impact of the Covid-19 pandemic and the ongoing oil price war, a Rystad Energy’s analysis shows.
ABS, a global classification provider, will provide classification for a series of self-elevating drilling units (SEDU) for Silver Eagle Global.
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.
Expecting the spot market for 2020 to be significantly weaker than previously predicted, Helix Energy plans to slash its capex by 20 per cent.
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.
Australia’s Cooper Energy has informed that its operated Sole gas field, located offshore Australia, is now producing gas to the Eastern Gas Pipeline.
Worley has been awarded a two-year extension to an existing services contract with Chevron in Australia.
Malaysian FPSO provider Yinson has signed contracts with Petrobras for the delivery, operation, and maintenance of the Marlim 2 FPSO.
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.
Svitzer, a global towage operator and part of Maersk, has secured a five-year extension of its marine service contract with NuStar, one of the largest liquid terminals and pipeline operators in North America. The company will support NuStar’s Point Tupper Oil Storage facility with three tugs on time
McDermott has been awarded a sizeable contract by BHP to provide pre-FEED services for a floating production unit (FPU) that will be installed at the Trion field offshore Mexico.
