Offshore news

The company has said it achieved an estimated 2019 total CAPEX of US$300 million and OPEX (ex-lease costs) of US$11/boe, both below original guidance.

The assets to be sold by BP include its interests in the Andrew area in the central UK North Sea and its non-operating interest in the Shearwater field.

The discovery was made at the Maka Central-1 well drilled offshore Suriname on Block 58.

Drilling in block 6507/8 is scheduled to begin in mid-January 2020, and is estimated to last for 67 days.

Vessel utilisation for 4Q19 was 80% compared with 32% for 4Q18. For the full year 2019, the vessel utilisation was 59%, whereas the utilisation for the full year 2018 was 33%.

The first phase of the plan to reduce emissions by 2030 means more than 5 million t in annual reductions, representing around 10% of total annual Norwegian greenhouse gas emissions today.

GMS will provide support for offshore activities on behalf of two Middle Eastern national oil companies.

The agreement is until end 4Q20, with options until 4Q21.

The project included the subsea inspection of three large conventional jacket structures off the coast of California.

Lekoil 310 Limited, a wholly owned subsidiary of LEKOIL, has entered into a binding loan agreement with the Qatar Investment Authority, the sovereign wealth fund of Qatar, in the amount of US$184.0 million.