Upstream news
Santos cuts 2020 CAPEX by 38%
Santos has reduced its 2020 CAPEX by US$550 million.
PGS releases data from Indonesia surveys
The new seismic datasets from Indonesia will be used to support the country's upcoming 2020 licensing round.
Aker BP pauses non-sanctioned field development projects
The company is to reduce CAPEX and exploration spending by 20% each for 2020.
OGUK welcomes government promise of assistance to offshore sector
The UK offshore industry's representative body warned last week that the industry's position was "paper thin" in the face of the Covid-19 pandemic and the oil price crash.
Yme project on course for first oil in second half of 2020
OKEA has said the Yme offshore project in the Norwegian North Sea, operated by Repsol, remains on schedule for first oil in 2H20.
Wood Mackenzie: China's crude reserves could reach 1.15 billion bbl this year
China’s crude oil stock (including strategic and commercial petroleum reserves) could reach the equivalent of 83 days of oil demand, according to Wood Mackenzie.
ION divests from land seismic equipment JV
The company is to sell its 49% equity stake in INOVA Geophysical Equipment Ltd. for US$12 million.
West White Rose offshore project suspended
Production from the White Rose field and its satellite extensions, located 350 km off the coast of Newfoundland and Labrador, is still continuing.
Shell reduces CAPEX and operating costs
The measures taken include a reduction of CAPEX to US$20 billion or below for 2020, from a planned US$25 billion.
Axxis Geo Solutions receives extension to Middle East OBN contract
The additional work is estimated to be totalling 7 vessel months and will continue into 2Q20.