Upstream project news
Kazakhstan makes output cuts
Kazakhstan has pledged to cut its output by 390 000 bpd in May and June.
Equinor awards Maersk Drilling rig contract
The hybrid jack-up rig Maersk Intrepid will drill three wells and plug one in the Martin Linge field offshore Norway.
Rockhopper Exploration provides update on Sea Lion farm-in
Rockhopper Exploration has said that it, Premier Oil and Navitas Petroleum remain committed to the finalisation of the farm-in agreement.
Ascent Resources secures right to three onshore licences in Cuba
Ascent Resources is currently the only London-listed company to venture into the Cuban oil and gas market.
PGS completes 3D survey offshore PNG
The survey has gathered over 6100 km2 of seismic data from the Papuan Basin.
Hindustan Oil Exploration makes discovery offshore Mumbai
The two wells drilled and completed in Block B-80 are expected to have an average production of 8000 bpd.
Global E&P revenues projected to fall by US$1 trillion in 2020, says Rystad Energy
A Rystad Energy analysis shows that global E&P revenues are now forecasted to fall by about US$1 trillion in 2020, a drop of 40% to US$1.47 trillion from last year’s US$2.47 trillion.
Equinor drills dry well near the Oseberg field
Wildcat well 30/6-31 S encountered poorly developed sandstones in the Intra Heather Formation with poor reservoir quality and no traces of petroleum.
Rystad Energy warns of US shut-ins of 300 000 bpd during May and June
US oil production of at least 300 000 bpd will be shut during May and June, according to a Rystad Energy analysis of early communication from US oil producers.
CNOOC releases 1Q20 operational results
The company has reduced its annual net production target and CAPEX for 2020.