Upstream project news

The contract has been extended until at least March 2022.

In January 2020 there were plans for approximately 50 exploration wells, but this has been reduced to 40 by the effects of the Covid-19 pandemic and low oil prices.

Allseas’ heavy lift vessel Pioneering Spirit will execute the work for Aker BP at the Valhall oilfield between 2021 and 2026.

At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war.

The module was lifted onto a barge at the Rosenberg Worley yard in Stavanger, Norway, and will be transferred to the world's largest crane vessel, Heerema’s Sleipnir, then installed on the Neptune-operated Gjøa platform.

Drilling at the Sobhi well encountered 108 ft net of high-quality gas-bearing sands, with an average porosity of 20%, near the base of the Kafr El Sheikh formation.

The largest share of the company's capital spending reduction will be in the Permian Basin.

The company has said however that Premier Oil has withdrawn from the project, as the well did not meet its pre-drill expectations.

Under the agreement with Falcon Oil and Gas, Origin will increase its interest n the Beetaloo Basin JV to 77.5%.

The company is targeting carbon intensity of 6 kg CO2/boe by 2030.