Upstream project news
Lukoil continuing development of North Caspian fields
The company has launched the jacket of the living quarters platform for the Valery Grayfer field.
Chevron awards Subsea 7 Anchor field contract
Subsea 7 will provide subsea installation services at the Anchor field in the Green Canyon area of the Gulf of Mexico.
IHS Markit predicts 36% spending cut for North American E&P Companies in 2020
The predicted spending reductions translate to a US$24.4 billion cut in 2020 compared to last year.
SBM Offshore outlines response to Covid-19
The company has said its construction yards in China reopened in February and are now close to planned capacity.
WFS signs new partnership with AeonX
AeonX (Nigeria) has signed a partnership agreement with WFS to promote and deliver the full range of Seatooth products for asset integrity and flow assurance monitoring to existing and new clients in Nigeria.
Ardyne awarded P&A and fishing contracts in the North Sea for 175 wells
The projects will commence in 2Q20 and 3Q20.
Marathon Oil revises 2020 spending
The revised 2020 capital budget of US$1.3 billion or less includes the implementation of 2Q20 frac holidays in the Bakken and Eagle Ford.
Continental Resources revises 2020 capital budget
The company will be reducing its average rig count from 9 to approximately 3 in the Bakken and 10.5 to approximately 4 in Oklahoma.
Rystad Energy: offshore drillers face contract cancellations worth up to US$3 billion
Of the 100 listed energy service companies analysed by Rystad Energy across the various service segments for this research, more than two-thirds are unlikely to be able to meet their interest payment obligations on time this year.
Upland Resources and Baron Oil relinquish interests in UK offshore licence
The work commitment on Licence P2470 consisted of a small volume of 3D seismic reprocessing.