Upstream news

Neptune anticipates 2020 to see produced volumes increase, reflecting production from the Cygnus field and an additional 3000 boe/d from assets set to be acquired from Energean Oil & Gas.

The LOI has been signed with an Arab consortium of strategic institutional investors focused on African development opportunities.

The fully merged and migrated Tablelands and North Tablelands 3D datasets cover approximately 12 500 km2 in the eastern part of the Orphan Basin.

Southeast Asia’s rig market, which was poised for growth in 2020, is now set for decline, according to analysis by Rystad Energy.

Shell has said that post-tax impairment charges in the range of US$400-800 million are expected for 1Q20.

The US$300 million of incremental capital reductions will be driven by the deferral of activity in the Eagle Ford, improved capital efficiencies in the Delaware Basin and lower service-cost pricing.

The APA is one of two equal licensing rounds on the Norwegian Continental Shelf. The scheme was introduced in 2003 to facilitate exploration in geologically well known parts of the Shelf.

The pre-FEED scope includes engineering tasks related to the configuration, sizing and preliminary analysis of the FPU, including topsides, hull, risers and mooring.

The company has said that it is still possible that the NJOM-3 well could be spudded before 15 September 2020, despite the force majeure.

Global CAPEX for exploration and production firms (E&Ps) is expected to drop by up to US$100 billion this year, according to Rystad Energy.