Drilling & production

US onshore drilling and completion activities are being halted by Equinor.

Zenith Energy will now pay Anglo African Oil & Gas £800 000, rather than £1 million, for an 80% interest in Anglo African Oil & Gas Congo S.A.U, which operates the Tilapia oilfield.

The company has said it still continues to expect to generate positive free cash flow in 2020.

The company's revised average annual production in 2020 is expected to be in the range of 55 000 to 60 000 bpd.

Total's CAPEX cuts in 2020 will amount to more than US$3 billion.

Santos has reduced its 2020 CAPEX by US$550 million.

The company is to reduce CAPEX and exploration spending by 20% each for 2020.

OKEA has said the Yme offshore project in the Norwegian North Sea, operated by Repsol, remains on schedule for first oil in 2H20.

The measures taken include a reduction of CAPEX to US$20 billion or below for 2020, from a planned US$25 billion.

CNOOC has a 25% stake in the Stabroek block as part of a consortium with operator ExxonMobil and Hess Corp.

The discovery could bring over US$50 million in revenue per year to the Surinamese government, if it sees similar success to Guyana’s Stabroek, according to GlobalData.

The effects of Covid-19 are likely to affect the planned timing of the DTM-7H well and the subsequent firm exploration well, according to the company.

The two affected sites are the Heather and Thistle/Deveron fields.

i3 Energy will utilise either the Borgland Dolphin or Blackford Dolphin semi-submersible drilling rig for a minimum 82-day programme.

Varel will use the investment from Blue Water Energy to drive growth in the medium-term.