Upstream project news

The scope of work covers maintenance and upgrades to maintain production levels for more than 200 offshore assets.

Neptune anticipates 2020 to see produced volumes increase, reflecting production from the Cygnus field and an additional 3000 boe/d from assets set to be acquired from Energean Oil & Gas.

The fully merged and migrated Tablelands and North Tablelands 3D datasets cover approximately 12 500 km2 in the eastern part of the Orphan Basin.

Southeast Asia’s rig market, which was poised for growth in 2020, is now set for decline, according to analysis by Rystad Energy.

The US$300 million of incremental capital reductions will be driven by the deferral of activity in the Eagle Ford, improved capital efficiencies in the Delaware Basin and lower service-cost pricing.

The pre-FEED scope includes engineering tasks related to the configuration, sizing and preliminary analysis of the FPU, including topsides, hull, risers and mooring.

The company has said that it is still possible that the NJOM-3 well could be spudded before 15 September 2020, despite the force majeure.

Global CAPEX for exploration and production firms (E&Ps) is expected to drop by up to US$100 billion this year, according to Rystad Energy.

The mean prospective resources associated with the Westphalian target area are estimated to be 3.95 million bbl, with an upside case of 6.69 million bbl.

The company has said it is working with joint venture partners towards reaching an FID for the Etinde field in late 2020.