Exploration news
Rystad Energy: greenfield E&P tenders are set to hit two-decade low in 2020
Cuts in the industry's investment budgets will leave only US$60 billion worth of greenfield tenders for contractors to compete for, the lowest in two decades, according to Rystad Energy.
Equinor awards seismic contract to Axxis Geo Solutions
The survey in the North Sea is expected to commence later in 2Q20 and will have a duration of approximately 30 days.
Equatorial Guinea grants two-year extension on exploration programmes
The country's Ministry of Mines and Hydrocarbons has signed a Ministerial Order granting oil and gas companies a two-year extension on their exploration programmes.
Eni-operated exploration well offshore Mexico plugged and abandoned
The Ehecatl-1 exploration well on Block 7, located in the Sureste Basin offshore Mexico, did not find reservoired hydrocarbons.
Axxis Geo Solutions completes OBN survey in Middle East
The project's crew is now demobilising to the North Sea for work in late 2Q20.
Two deepwater oil discoveries made offshore Mexico
A joint venture, including PTTEP, Petronas, Repsol and Wintershall Dea, made the discoveries in the Salina Basin.
Ascent Resources secures right to three onshore licences in Cuba
Ascent Resources is currently the only London-listed company to venture into the Cuban oil and gas market.
PGS completes 3D survey offshore PNG
The survey has gathered over 6100 km2 of seismic data from the Papuan Basin.
Hindustan Oil Exploration makes discovery offshore Mumbai
The two wells drilled and completed in Block B-80 are expected to have an average production of 8000 bpd.
Global E&P revenues projected to fall by US$1 trillion in 2020, says Rystad Energy
A Rystad Energy analysis shows that global E&P revenues are now forecasted to fall by about US$1 trillion in 2020, a drop of 40% to US$1.47 trillion from last year’s US$2.47 trillion.