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.
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.
