Upstream project news

The contract revenue was estimated at US$1 million, and AGS will receive a cancelation fee of 25% of the estimated revenue amount.

The study will focus on the development of high CO2 gas fields in Malaysia, which are currently assumed to be difficult to develop from an economical point of view due to associated CO2 management costs.

Searcher, in collaboration with Discover Geoscience, is offering an open-file seismic package to assist in the evaluation of the country’s second petroleum licensing round.

Woodside, Cairn Energy Plc, FAR Ltd and the Senegal government just began development of the offshore oil project, following final investment decisions in January.

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.

The reductions include a US$2 billion decrease in spending in upstream unconventionals, primarily in the Permian Basin.

The drilling of Perseverance #1, the company's first exploration well in The Bahamas, has been suspended by the Covid-19 pandemic.

The company will significantly reduce spending this year below its original US$1.2 billion budget.

The oilfield services company is anticipating a rapid reduction in active drilling and hydraulic fracturing activity.

The Maersk Venturer drillship has been working for Tullow offshore Ghana.