Offshore news

IOG has received the approval for its Core gas project in the North Sea.

Kazakhstan has pledged to cut its output by 390 000 bpd in May and June.

The two jack-up drilling rigs sold are the Dhabi II and the Paragon B152.

Valaris has reported a net loss of US$3.01 billion for 1Q20 compared to a net loss of US$216 million in 4Q19.

The hybrid jack-up rig Maersk Intrepid will drill three wells and plug one in the Martin Linge field offshore Norway.

Rockhopper Exploration has said that it, Premier Oil and Navitas Petroleum remain committed to the finalisation of the farm-in agreement.

The survey has gathered over 6100 km2 of seismic data from the Papuan Basin.

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.

The company has reduced its annual net production target and CAPEX for 2020.