Upstream news

Oman's Ministry of Oil and Gas has approved the field development plan for the Yumna field and awarded Declaration of Commerciality (DOC).

The Luda 21-2/16-3 regional development is expected to reach its peak production of approximately 25 600 bpd in 2022.

Providence Resources is working with SpotOn Energy and members of a consortium to finalise the farm out work programme for Exploration Licence SEL1/11, which includes the Barryroe oil and gas field offshore Ireland.

Oil prices fell today as the Covid-19 pandemic continues to expand, threatening the future of oil demand, in a market that is slowly trying to recover production levels.

The projects will commence in 3Q20 and are expected to be completed by 1Q21.

The acquisitions remain conditional on agreeing the terms of the refinancing of Premier’s existing credit facilities, equity funding and customary other approvals, including shareholder approval.

Zenith Energy has submitted an offer to the Ministry of Hydrocarbons of the Republic of the Congo for the award of a new 25-year licence for the Tilapia oilfield, to be named "Tilapia II".

The agreement is designed to advance Halliburton’s digital capabilities in Microsoft Azure.

Lease Sale 256, originally scheduled for August 2020, will include approximately 14 755 unleased blocks – all of the available unleased areas in federal waters of the Gulf of Mexico.

Oil prices have fallen as a surge of Covid-19 cases in the US and other key markets around the world throw doubts over gasoline demand and for how long it can keep its recovered levels.