Upstream project news

Beach Energy and Diamond Offshore are engaging in discussions with regard to the future operations of the Ocean Onyx rig and the Victorian Otway Basin offshore drilling campaign, with a view to agreeing a new contract in due course.

The project will cover both frontier and mature areas where new broadband seismic is needed to enable the interpretation of the internal reflectors of the main Brent Group reservoir level.

BG International, a subsidiary of Shell, and Aker BP have terminated contracts for the Maersk Developer and the Maersk Reacher respectively.

Nine seismic surveys have been carried out on the Troll field by Equinor and other licensees, with the most recent one completed last summer.

SKK Migas, the country's upstream oil and gas regulator, has cut this year’s production outlook for both crude oil and gas to 725 000 bpd and 5727 million ft3/d respectively.

Oil production in March was 4.4% lower than the NPD’s forecast, due to technical problems at some fields.

The measures include a reduction in output of 225 000 bpd.

The interests include a 9.57% stake in the Azeri-Chirag-Gunashli oilfield, and an effective 8.9% stake in the Baku-Tbilisi-Ceyhan pipeline that transports crude to the Mediterranean port of Ceyhan.

Zenith has entered into a new conditional Deed of Variation which now includes the acquisition of a 100% interest in AAOG Congo and related intracompany loans for a revised total consideration of £200 000.

New licensed offshore acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, according to Rystad Energy.