Exploration

CGG has completed JumpStart™ multi-client geoscience packages for the North West Shelf (NWS) of Australia and the Banda Arc in the Asia-Pacific region.

The Acquired Assets produced approximately 19 thousand barrels of oil equivalent per day (MBoe/d) during 3Q19.

The licensing round is expected to commence in April 2020, with nine blocks on offer in the Harper Basin.

The discovery totalled 1.5 billion bbl of oil and 0.7 trillion ft3 of gas.

Ocean Infinity will be deploying technology to conduct 2D Ultra High-Resolution Seismic surveys and Seabed Soil Sampling in Block 32 and Block 17.

The agreement between ERU and PGNiG provides for joint operations on a licence located in the Lviv region, which is close to the Polish border.

Petrofac has been appointed by Maersk to deliver well management services, including project and supply chain management support for shallow water and deepwater wells throughout the duration of the programme.

In the upstream business, approximately US$11 billion is forecasted to sustain and grow currently producing assets, including about US$4 billion for Permian unconventional development and about US$1 billion for other international unconventional development.

The survey was performed in August in water depths of 600 m using the Fugro Equator, a dedicated geophysical survey vessel, and the Fugro ES-V AUV, and completed with zero HSSE incidents.

The winning bids commit the company to an exploratory work programme, including geological studies, seismic and wells over a three-year phase (Phase 1) on each of the exploration contracts.

The Senegal North Ultra-Deep Offshore (SN-UDO-19) 3D survey will covers over 5100 km2.

The one-month project for Shell will commence in 4Q19 and will cover an area of approximately 600 km2 in the western Black Sea.

The drill stem test flowed dry gas from the intra-Muda sands at a rate of 11.4 million ft3/d on a 181/64-in. (2.8 in.) choke, maintaining a wellhead tubing pressure of 225 psi.

Part of the company's 10-year plan includes a free cash flow of approximately US$50 billion based on a real WTI price of US$50/bbl and annual capital expenditures averaging less than US$7 billion over the decade.

Planned to start in early 2020, the survey has already received significant industry interest and is being prefunded in part by BP.