Oil & gas news

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.

Wildcat well 30/6-31 S encountered poorly developed sandstones in the Intra Heather Formation with poor reservoir quality and no traces of petroleum.

Shell's 1Q20 net income fell 46% from a year earlier to US$2.9 billion.

CAN-complete will provide clients with a full service EPCI solution for the subsea well tophole and structural foundation.

US oil production of at least 300 000 bpd will be shut during May and June, according to a Rystad Energy analysis of early communication from US oil producers.

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

The announcement is a result of higher-than-expected demand for certain fuels.

OKEA has announced that its assets produced a total of 19 099 boe/d in 1Q20, compared to 19 498 boe/d in 1Q19.

Under the agreement, Sumitomo will have a 25% stake in the FPSO Anna Nery project, which was awarded to Yinson by Petrobras in October 2019.

The agreement has been signed with an unnamed European E&P company for licence P2478 in the Inner Moray Firth, UK.