Upstream news

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.

The study will focus on the development of high CO2 gas fields in Malaysia, which are currently assumed to be difficult to develop from an economical point of view due to associated CO2 management costs.

Searcher, in collaboration with Discover Geoscience, is offering an open-file seismic package to assist in the evaluation of the country’s second petroleum licensing round.

Woodside, Cairn Energy Plc, FAR Ltd and the Senegal government just began development of the offshore oil project, following final investment decisions in January.

The largest job reductions in 2020 are expected to be within shale, according to Rystad.

The company's total net oil and gas production in 2019 amounted to 506.5 million boe, exceeding 500 million boe for the first time.