Upstream project news
MOL completes purchase of Chevron assets in Azerbaijan
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 Energy renegotiates acquisition of Tilapia field
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.
Covid-19 and low oil prices could cancel over half of 2020’s licensing rounds globally, predicts Rystad Energy
New licensed offshore acreage is likely to fall by about 60% and onshore acreage by 30% compared with 2019 levels, according to Rystad Energy.
Shell invests in Surat gas project
The company is investing in Arrow Energy's Surat gas project in Queensland, Australia.
TGS begins 3D seismic survey offshore The Gambia
The 4770 km2 Gambito 2020 3D survey will cover open acreage in deep and ultra-deep waters.
Covid-19 delays construction work at Peregrino oilfield
The Peregrino oilfield offshore Brazil is Equinor’s largest offshore operation outside Norway, and produces 70 000 to 80 000 bpd.
Shearwater receives termination notices for two contracts
The contracts were with Woodside in Australia and Reliance in India.
ADNOC cancels Dalma project contracts with Petrofac
The project, worth around US$1.65 billion, and awarded in February 2020, comprised two packages. Petrofac Emirates’ portion of the scope of work is valued at US$1.5 billion.
ONGC extends FPSO contract with Bumi Armada
The Armada Sterling FPSO is currently operating for ONGC in the D1 field 200 km offshore India's west coast.
Shell withdraws from Meretoyakhaneftegaz JV with Gazprom Neft
The joint venture between the two companies was set up to develop licence blocks in Russia's Yamal peninsula.