Drilling & production

The company has reduced its annual net production target and CAPEX for 2020.

The announcement is a result of higher-than-expected demand for certain fuels.

OKEA has announced that its assets produced a total of 19 099 boe/d in 1Q20, compared to 19 498 boe/d in 1Q19.

Fenja is Neptune’s first operated development project on the Norwegian Shelf and is estimated to contain 97 million boe.

BP has reported an underlying replacement cost profit of US$0.8 billion, compared with US$2.4 billion for 1Q19.

The African Energy Chamber has said that Tullow Oil and Total's resolving of a long-standing capital gains tax dispute will make Uganda the biggest crude producer in East Africa.

BP and Hilcorp have successfully renegotiated the financial terms of the deal to respond to the current environment.

Maersk Drilling is to reduce its offshore crew pool as a result of tenders and projects being delayed or cancelled.

Hild is the sixth jack-up rig that Keppel has delivered to Borr Drilling.

Eni's adjusted operating profit for the quarter was €1.31 billion, down by €1 billion, or by 44%, compared to 1Q19.

Well 6507/8-10 S, 10 km east of the Heidrun field, will be permanently plugged and abandoned.

The company expects that the Sobhi well, onshore Nile Delta in Egypt, will be tied in during 2021.

Austin J. Wells, Arnco Technology, USA, explains how changing the way problems are considered is often how solutions are developed.

The company recorded a loss of €269 million in 1Q20 and withdrawn guidance for 2020.

Aker BP and PGNiG have started production from the second development stage (phase two) on the Ærfugl field in the Norwegian Sea.