Upstream project news

Petrobras is revising all exploration and production projects as a result of its new oil pricing assumptions.

The company is targeting additional savings to those in April, and now expects to reduce overhead and project support costs by at least US$125 million in 2020 and by up to US$200 million in 2021.

The guidelines aim to help companies understand good practice in how to identify, rank, approve and carry out opportunities to optimise production.

The company recently engineered a pair of ROV-deployable magnetic mounts to allow the loggers to be mounted directly onto subsea cross braces on a platform at two separate depths.

A Rystad Energy analysis shows that gross US cuts could reach at least 2 million bpd in June, including liquids.

12 prospective parcels of land will be opened for tender across Queensland’s resource-rich Bowen and Surat basins between Blackwater and Goondiwindi.

In collaboration with Marathon Oil Corp and EG LNG, the country's Ministry of Mines and Hydrocarbons has awarded a contract for the development of a gas master plan to British company Gas Strategies.

The study for JX Nippon Oil & Gas Exploration Corp. will assess options for carbon capture and sequestration (CCS), alongside blue hydrogen production relating to oil and gas fields in South East Asia.

Premier Oil has said first gas from its Tolmount project is now expected in 2Q21.

The operation was conducted from an integrated subsea template structure at the Fenja field in the Norwegian North Sea.