Tullow Oil has identified further cost savings while its lenders have approved its credit facility with a $1.9 billion of debt capacity.
A hull for the Energean-owned Energean Power FPSO sailed away from the COSCO yard in China on Thursday, April 3, 2020.
Africa-focused oil and gas company Lekoil has approved the immediate and accelerated implementation of the company’s general and administrative (G&A) cost-reduction measures due to the significant drop in oil prices.
Malaysian offshore support vessels and subsea services provider Alam Maritim Resources has been awarded a work order for the provision of anchor handling tug and supply (AHTS) for Petronas Carigali.
Oil and gas company Apache Corporation has made a ‘significant oil discovery’ at the Sapakara West-1 well drilled offshore Suriname on Block 58.
Aker Energy has postponed the development of its Pecan field, located offshore Ghana. As a result, Aker Energy terminated its agreement with Yinson for the provision of an FPSO for the project.
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.
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.
