Upstream project news

The gross (full field) 1C (contingent) resource estimate of 323 billion ft3 of recoverable raw gas represents an increase of 76% on the pre-appraisal estimate of 184 billion ft3.

Field trials of eight emerging methane detection technologies, including satellite and aerial surveillance monitoring, are being conducted at nearly 1000 sites in Texas and New Mexico, US.

The company has also said it has received notices of early termination of contracts from ExxonMobil.

The company has launched the jacket of the living quarters platform for the Valery Grayfer field.

Subsea 7 will provide subsea installation services at the Anchor field in the Green Canyon area of the Gulf of Mexico.

The predicted spending reductions translate to a US$24.4 billion cut in 2020 compared to last year.

The company has said its construction yards in China reopened in February and are now close to planned capacity.

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.

The projects will commence in 2Q20 and 3Q20.

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.