Drilling & production

Excluding Libya, and adjusting for closed dispositions and curtailments, production in 2Q20 is expected to be in line with the same period a year ago and approximately 5% below 1Q20.

The impairment charges anticipated are based upon the company expecting the price of Brent to be average approximately US$35/bbl in 2020 and the Henry Hub gas spot price US$1.75/MMBtu.

Neptune Energy have announced a major milestone for the Touat gas facility in Algeria, with operatorship having been formally passed to Groupement Touat Gaz (GTG).

The reduction is a result of an agreement to exclude Edison's Norwegian assets from the transaction.

Running 16 fields on the Norwegian continental shelf with power from shore will mean that total CO2 emissions will be about 3.2 million t lower per year than they otherwise would have been.

The Lemang PSC is located onshore Sumatra, Indonesia, and includes the Akatara gas field.

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.

The three-year contract began on 1 May and will employ 144 Danos personnel in a variety of positions.

Zenith has ceased all oil production operations in Azerbaijan and all field production personnel, approximately 170 employees, have been transferred to a division of SOCAR.

TWI and DNV GL are aiming to address the significant challenge of corrosion in downhole tubing and casing applications in the oil and gas industry.

The platform enabled the customer to automate production monitoring, analysis, and optimisation asset-wide for 1700 electric submersible pump wells.

The agreement also establishes a framework where Proserv and Dril-Quip may pursue joint marketing and collaboration efforts, with Dril-Quip providing subsea trees and Proserv providing subsea controls.