Upstream project news

Following the relinquishment of LO 16/19 in the South Porcupine Basin, Europa’s licence position offshore Ireland comprises five 100%-owned licences.

Alligin forms part of the Greater Schiehallion Area and has been developed as a two-well subsea tieback into the existing Schiehallion and Loyal subsea infrastructure and the Glen Lyon floating, production, storage, offload (FPSO) vessel.

The ultramodern data was acquired over blocks Z5-C and Z5-D and surrounding open acreage as part of a multi-client programme agreed between CGG and Mozambique’s Instituto Nacional de Petroleo (INP).

The company has announced an increase in gross prospective resources to 5.14 billion boe in the Orinduik block offshore Guyana.

The Geoquip Marine survey vessel MV Investigator is at the proposed site for the NJOM-3 well, and is presently conducting the site survey.

The deal was cancelled because of sanctions imposed by the US government on PDVSA, Venezuela's state energy company.

The survey will provide modern 3D data over held and vacant acreage in the frontier Papuan Basin.

KBR will act as the main PMC contractor responsible for managing the successful engineering, procurement and construction (EPC) contractors for Packages A & B of the Dalma Gas Development Project, Packages 1-5 of the Hail & Ghasha Development Project, Hail & Ghasha Islands Project as well as the Deep Gas Project.

The company has announced estimated 4Q19 earnings of US$5.7 billion.

The company's budget for 2020 is US$1.27 billion, which represents a 30% increase on 2019 capital expenditure.