Exploration

The two wells drilled and completed in Block B-80 are expected to have an average production of 8000 bpd.

Wildcat well 30/6-31 S encountered poorly developed sandstones in the Intra Heather Formation with poor reservoir quality and no traces of petroleum.

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

The decision document, received on 24 April from the UK Environment Agency, grants a variation to the permit for the West Newton A site and associated WNA-2 testing operations.

The government has proposed an extension of the so-called ice edge boundary to the constantly changing southern fringe of the permanent ice sheet.

The company is reducing its 2020 CAPEX and cold-stacking two vessels in 2Q20.

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.

Rystad is estimating that the industry's revenues will fall this year by 51% in a US$30 Brent scenario and by 77% if the Brent falls to US$20, compared to levels seen in 2019.

The contract is expected to start in 3Q20, with a duration of about 30 – 45 days.

First data from the 21 631 km2 regional 2D seismic survey offshore Sakhalin Island has been sent out to pre-funding customers and is now available to all industry customers.

The project will cover both frontier and mature areas where new broadband seismic is needed to enable the interpretation of the internal reflectors of the main Brent Group reservoir level.

New licensed offshore acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, according to Rystad Energy.

The 4770 km2 Gambito 2020 3D survey will cover open acreage in deep and ultra-deep waters.

The contracts were with Woodside in Australia and Reliance in India.