Upstream news

The ARO-2003 (SAR201) jack-up rig has been repaired and overhauled for ARO Drilling.

The company will reduce planned investments for 2020 from US$12 billion to US$8.5 billion.

Eni will reduce CAPEX in 2020 by around €2 billion, equal to 25% of the total CAPEX planned, and OPEX by around €400 million.

Origin Energy has temporarily paused shale exploration drilling activities at its Kyalla well site in Australia's Northern Territory in response to the Covid-19 pandemic.

The Framo TransRec system is designed to handle any oil spill, whether it occurs in the process of oil production or as the result of a vessel-related incident.

The first uncrewed surface vessels (USVs) will be launched before the end of this year, and a larger USV model is being designed for delivery in 2021.

The company, which had planned to lift capital spending to US$13.37 billion this year, is still discussing the scale of the cuts.

Rystad Energy expects many projects to be delayed, causing the continent’s expected liquids production to decline for most of this decade and energy-reliant state budgets to take significant hits.

The well was brought onto production on 21 March 2020 at an initial flow rate of approximately 2200 gross bpd.

The contract revenue was estimated at US$1 million, and AGS will receive a cancelation fee of 25% of the estimated revenue amount.