Upstream project news
Sangomar project partners deliberating timing
Woodside, Cairn Energy Plc, FAR Ltd and the Senegal government just began development of the offshore oil project, following final investment decisions in January.
CNOOC reports 2019 results
The company's total net oil and gas production in 2019 amounted to 506.5 million boe, exceeding 500 million boe for the first time.
Chevron reduces 2020 capital spending plan
The reductions include a US$2 billion decrease in spending in upstream unconventionals, primarily in the Permian Basin.
Bahamas Petroleum postpones drilling operations until October 2020
The drilling of Perseverance #1, the company's first exploration well in The Bahamas, has been suspended by the Covid-19 pandemic.
Halliburton to reduce 2020 spending
The company will significantly reduce spending this year below its original US$1.2 billion budget.
Schlumberger cuts spending by 30%
The oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.
Tullow Oil terminates drillship contract with Maersk Drilling
The Maersk Venturer drillship has been working for Tullow offshore Ghana.
Equinor makes CAPEX cuts
US onshore drilling and completion activities are being halted by Equinor.
Head Energy awarded well hook-up contract
Engineering for the two well hook-ups at the Brage platform will start immediately.
Rystad Energy: oil price war and Covid-19 could derail two-thirds of project sanctioning in 2020
According to an impact analysis from Rystad Energy, E&P companies are likely to reduce project sanctioning by up to US$131 billion, or about 68% y/y.