Neptune anticipates 2020 to see produced volumes increase, reflecting production from the Cygnus field and an additional 3000 boe/d from assets set to be acquired from Energean Oil & Gas.
The LOI has been signed with an Arab consortium of strategic institutional investors focused on African development opportunities.
Southeast Asia’s rig market, which was poised for growth in 2020, is now set for decline, according to analysis by Rystad Energy.
Shell has said that post-tax impairment charges in the range of US$400-800 million are expected for 1Q20.
The US$300 million of incremental capital reductions will be driven by the deferral of activity in the Eagle Ford, improved capital efficiencies in the Delaware Basin and lower service-cost pricing.