Drilling & production - 26 June 2020

The platform is being constructed in the Kamennomysskoye-Sea gas field, located in the Ob Bay of the Kara Sea.

The regulation covers matters such as the extension of the productive life of mature fields and the exploration of marginal and onshore fields along with investments in deep and ultra deepwater acreages.

This will be the third consecutive quarter in which Occidental takes a writedown, bringing the total to as much as US$12 billion in the last nine months, more than half of its market capitalisation.

The FPSO operating the well has the capacity to process up to 150 000 bpd and treat up to 6 million m3 of natural gas.