Oil & gas news

Oil prices lost ground this morning, as traders corrected last week’s exuberant gains, amid worries that Covid-19 will not let demand recover as quickly as hoped.

The company will provide its continuous environmental compliance and drilling performance management services on both projects.

The UK-based subsea company is set to expand into international markets following the successful delivery of a variety of projects for exploration and production operators and oil and gas service companies.

Seeq Corp. has announced the availability of Seeq connectors to CygNet enterprise SCADA and WITSML data storage systems to expand support for oil and gas industry end users.

Global spending is forecasted to reach US$383 billion this year, the lowest level in 15 years and a 29% decrease of US$156 billion compared to 2019.

The company is selling its 6.45% interest in the Kvitebjorn field and pipeline and its 3.225% interest in the Valemon Unit and Valemon Rich Gas Pipeline, according to a document seen by Reuters.

Gro Haatvedt will leave her executive role as VP of Exploration and Development at the end of September 2020 to become a Distinguished Advisor.

The move provides the company with a new workshop, storage yard, training facilities, and office to deliver its International Organization for Standardization (ISO) certified services in-country.

The MoU covers cooperation opportunities in E&P, LNG, downstream and infrastructure, and circular economy and low-carbon energy projects.

The Qinhuangdao 33-1S oilfield phase I project is expected to reach its peak production of approximately 6000 bpd of crude oil in 2021.