Upstream project news

Over 80% of the company's 2020 Exploration & Production capital and exploratory budget will be allocated to high return investments in Guyana and the Bakken.

The OYF-2 well in Morocco has been drilled to a measured depth of 1210 m and has encountered commercial quantities of gas in excess of pre-drill estimates.

The drilling operation by the Stena Forth drillship is estimated to take 30 days and shall drill to approximately 3000 m subsea.

The company has also made a further oil discovery northeast of the producing Liza field in the Stabroek Block.

The Sharjah National Oil Corporation (SNOC) and its partner Eni, have announced a successful new discovery of natural gas and condensate onshore in Sharjah.

The Stork Worley Integrated Solutions joint venture will provide engineering, procurement, construction, installation and commissioning, and decommissioning services for a brownfield modification for Neptune Energy's Dutch assets in the North Sea.

The contract was awarded by Dana Petroleum and will be executed by Ocean Installer’s office in Aberdeen, UK, with engineering work beginning immediately and offshore operations scheduled for 2Q20.

The company has announced that the Q10-A field offshore the Netherlands produced 258 million m3 of gas during 4Q19, compared to 203 million m3 in 3Q19.

The agreement is in relation to UK offshore licences P1929 and P2304, which contain the Resolution and Endeavour gas discoveries respectively.

The project will be executed at Semco Maritime’s yard at Hanøytangen outside Bergen starting mid-February 2020.