Upstream news

Oceaneering will provide inspection services for Cabinda Gulf Oil Company Ltd. onshore Cabinda, Angola, and offshore Angola on Blocks 0 and 14.

The company will carry out the Brazil Nebula survey extension for CGG and a 3D scope for Oil India lasting 1.5 months, starting in 3Q20.

The Torngat survey covers approximately 3300 km2 and sits within Labrador Sea’s southern sedimentary basins, where frontier exploration has already successfully identified hydrocarbons.

The development of Askeladd Vest is phase two of the multi-phased Snøhvit gas development in the Barents Sea.

The contract scope includes EPCI for pipelines, umbilicals and tie-ins.

Excluding Libya, and adjusting for closed dispositions and curtailments, production in 2Q20 is expected to be in line with the same period a year ago and approximately 5% below 1Q20.

Rystad Energy estimates Iraq’s actual ability to cut more barrels is limited to between 300 000 and 500 000 bpd.

Oil prices declined this morning as traders continue to keep them in manageable levels, on anticipation of more bullish news and with a wary eye on how Covid-19 evolves.

The new joint data library will comprise nearly 1 million line km of complementary data.

The Performance Live service provides customers with instant access to data and collaboration with domain experts, enabling faster, more informed decision making for directional drilling, well logging, formation testing and other oil and gas operations.