Drilling & production - 17 March 2020

Petronas, the operator of Gharraf, has evacuated its staff from the Iraqi oilfield.

The reductions to the company’s 2020 capital budget will be primarily achieved by shifting from a six rig programme to one rig in the Bakken, which is expected to be completed by the end of May.

The Norwegian Petroleum Directorate has granted the company a permit for well 35/8-7S in production licence 880.

The company has reduced its drilling, completion and facilities capital budget by approximately 45%.

The company is aiming to reduce spending as a result of market conditions caused by the Covid-19 pandemic and commodity price decreases.