Drilling & production

The company's VeroTM automated connection integrity has successfully completed 100 runs and 33 000 tubular connections in operations worldwide since its market debut.

The US is seeing an immediate and severe drop in OCTG tonnage requirements, as operators have slashed their drilling programmes by in some cases up to 50%.

The discovery in the onshore Central Sumatra Basin amounts to 61.8 million bbl, according to Cue Energy Resources, which a 12.5% interest.

A new report published by OGUK shows domestic oil and gas production in 2019 met nearly two thirds of the UK’s oil and gas demands.

The announcement by Mexico's president, Andres Manuel Lopez Obrador, did not make clear how much production would be removed by the closure of new fields and whether it would exceed a 100 000 bpd quota already agreed with the OPEC+ group of producing countries.

The company cited current market conditions for its withdrawal from a consortium evaluating the acquisition of Shell's upstream portfolio in the Western Desert in Egypt.

The company has announced a net loss of US$1 billion, or US$1.16 per diluted share, for 1Q20.

The company has acquired a working interest in the North Kairouan permit and the Sidi El Kilani concession, which contains the Sidi El Kilani oilfield.

Beach Energy and Diamond Offshore are engaging in discussions with regard to the future operations of the Ocean Onyx rig and the Victorian Otway Basin offshore drilling campaign, with a view to agreeing a new contract in due course.

BG International, a subsidiary of Shell, and Aker BP have terminated contracts for the Maersk Developer and the Maersk Reacher respectively.

The company has reported a US$7.4 billion loss as a result of the impact of the Covid-19 pandemic and low oil prices.

SKK Migas, the country's upstream oil and gas regulator, has cut this year’s production outlook for both crude oil and gas to 725 000 bpd and 5727 million ft3/d respectively.

Oil production in March was 4.4% lower than the NPD’s forecast, due to technical problems at some fields.

The measures include a reduction in output of 225 000 bpd.

The interests include a 9.57% stake in the Azeri-Chirag-Gunashli oilfield, and an effective 8.9% stake in the Baku-Tbilisi-Ceyhan pipeline that transports crude to the Mediterranean port of Ceyhan.