Oil prices fall as enthusiasm for a possible OPEC+ agreement to continue June’s production cuts for more months subsides.
Exploration drilling is anticipated to commence at the Pensacola gas prospect in 2H21 and in 2022 at the Selene gas prospect.
The Semakovskoye field in the Yamal-Nenets Autonomous Area has recoverable gas reserves in excess of 320 billion m3.
KrisEnergy has attributed the suspension to the economic uncertainty generated by the Covid-19 pandemic and the current state of oil prices.
El Salmiyah-5 was spudded on 3 February 2020, and reached total depth of 4400 m MD on 17 April 2020.
Siemens Gas and Power is to supply three SGT-300 industrial gas turbine generators (GTG), three mechanical-drive SGT-300 gas turbines and three DATUM centrifugal compressors.
Oil prices got a boost this morning on rumours that the coming OPEC+ meeting may keep high-level production cuts after June.
The funding has been secured from eight parties, including Oxford Sciences Innovation (OSI), Parkwalk, Oxford Investment Consultants, the University of Oxford and GF Piping Systems.
Oil and gas companies currently have assets for sale with recoverable reserves of more than 5 billion bbl of liquids and 7.5 billion boe of natural gas, Rystad Energy estimates.