Exploration news

The latest Kwanza Shelf survey will provide key data for the Angolan 2021 Licence Round.

The 5600 km2 survey will be undertaken over 90 days and is an extension of Atlantic Margin surveys acquired between 2017 and 2019.

ANP announced the suspension in compliance with a request from the country's Ministry of Mines and Energy.

The project is due to commence in 2Q20 and last approximately 3 months.

The expanded coverage over the Malvinas and Austral Basins adds to Searcher’s existing data in the area.

The fully merged and migrated Tablelands and North Tablelands 3D datasets cover approximately 12 500 km2 in the eastern part of the Orphan Basin.

The APA is one of two equal licensing rounds on the Norwegian Continental Shelf. The scheme was introduced in 2003 to facilitate exploration in geologically well known parts of the Shelf.

Global CAPEX for exploration and production firms (E&Ps) is expected to drop by up to US$100 billion this year, according to Rystad Energy.

The project in the Mexican sector of the Gulf of Mexico is scheduled to commence in 3Q20 and will take approximately 60 days.

Planned 2020 CAPEX on the company's UK producing assets is expected to be below US$45 million, reduced from the original forecast of US$65 million.