Drilling & production

Ole Martin Grimsrud has given notice that he will leave the company on 1 September 2020.

After all the precedent conditions were met, the transaction was concluded with the payment of R$676.8 million to Petrobras.

33 rigs were placed at their respective monsoon locations before the onset of the seasonal adverse weather conditions.

Total now faces a revenue shortfall of at least US$12 billion (£9.76 billion) due to the crash in oil prices.

Norway's Petroleum Safety Authority has given Neptune Energy consent to use the facility for production drilling for a period of 240 days.

Covid-19-related disruption at Aker Solutions' yard in Egersund, Norway, where the Maersk Inspirer rig for the Yme project is undergoing an upgrade, has led OKEA to warn of a potential delay to first oil from the Yme field until the first half of 2021.

The company's permit for the Beehive prospect has been extended by 12 months to 21 December 2021.

CNOOC will not exercise its pre-emption rights to acquire 50% of Tullow's assets in Uganda on the same terms and conditions as those agreed between Tullow and Total in April 2020.

The company has said it is confident that the Slovenian government will receive the required permits for further stimulation of the Petišovci tight gas project.

ConocoPhillips has completed the sale of its subsidiaries that hold its Australia-West assets and operations to Santos.

The company recorded a revenue of US$279 million in 1Q20, compared to US$305 million in 4Q19.

Well 6506/11-12 S. will be drilled about 4 kilometres west of the Morvin field.

The relinquishment process of the SK331 block, located onshore Sarawak, East Malaysia, is expected to be fully completed before the end of the year.

US monthly output is not likely to exceed 11.7 million bpd before 2022, according to Rystad Energy estimates.

The company's EBITDAX was US$322.9 in 1Q20, compared to US$451 million in 4Q19.