Upstream news
Tendeka awarded zonal isolation contract in Malaysia
The contract will last until 2023.
Neptune Energy makes discovery in Germany
The discovery was made at the Schwegenheim exploration well in the Rhine Valley.
Unity to provide Spirit Energy with well integrity services
Unity will maintain wellhead equipment across twelve platforms in the East Irish Sea, Southern North Sea and the Dutch sector of the North Sea.
Rystad Energy anticipates 2.8% decrease in global oil demand
Rystad expect the month of April to take the biggest hit, with demand for oil falling by as much as 11 million bpd y/y.
Development of Wressle oilfield is economically robust, say Egdon Resources
The results of work undertaken by Egdon Resources show the project has an estimated break-even oil price of US$17.62/bbl.
Weatherford works with IOC to save rig days and money in Gulf of Mexico operation
By sidetracking from a collapsed expandable liner, the re-entry operation eliminated the time and cost associated with re-drilling and re-casing a 3000-ft hole.
BW Offshore leases BW Pioneer FPSO for Gulf of Mexico work
BW Offshore has signed a five-year contract for the lease and operation of the BW Pioneer FPSO on the Cascade and Chinook fields on behalf of MP Gulf of Mexico.
Stinger Technology awarded R&D contract by Neptune Energy
The contract is for the development, qualification and field trials of autonomous inspection/intervention subsea drones.
W&T Offshore to reduce 2020 capital budget
The company has reduced its estimate of 2020 capital expenditures to US$15 million to US$25 million from its prior level of US$50 million to US$100 million.
Rystad Energy analysis suggests over 200 European OFS firms could go bankrupt due to Covid-19
Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent, say Rystad.