Offshore Energy News - page 379

 

KrisEnergy Sells Indonesia Block to BP

Apr 08, 2020

Southeast Asia-focused oil and gas companyKrisEnergy Ltd. an upstream oil and gas company, has sold its 30.0% interest in the Andaman II block offshore Indonesia to BP.KrisEnergy said that the previously proposed disposal of the block in the Malacca Strait was completed on Wednesday…

Key Offshore Wildcat Wells At Risk of Being Suspended

Apr 08, 2020

At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the blended impact of COVID-19 on oil and gas activities and the oil price war, Rystad Energy said Tuesday.These wells, the Norwegian energy intelligence firm said…

CNOOC to Trim 2020 Spending by Up To 15%

Apr 08, 2020

China National Offshore Oil Corp (CNOOC) will trim annual investment by 10% to 15% in 2020, while maintaining its goal of increasing domestic crude oil and natural gas production for the year, the company said in a statement on Wednesday.CNOOC Ltd…

Exxon Could Delay Third Guyana Project

Apr 07, 2020

Exxon Mobil Corp said on Tuesday that production at the Payara project, its third development in Guyana, could be delayed due to delays in government approvals as the company scales back spending elsewhere due to the crude price crash.Payara's…

BP Issues Force Majeure Notice for Golar FLNG Unit

Apr 07, 2020

Golar LNG Ltd said on Tuesday that it received a force majeure notice from a BP Plc unit seeking to delay taking delivery of a floating liquefied natural gas facility by a year.The notice is the latest force majeure claim issued in the LNG sector…

Petrobras in Natator Oil Discovery off Brazil

Apr 07, 2020

-Brazilian oil company Petrobras has found presence of oil at the Natator exploration well in the Campos Basin, offshore Brazil.Petrobras said Thursday that the well, in the Sudoeste de Tartaruga Verde block, was located 130 km from the city of Macaé (RJ)…

Gallery: Giant Crane Vessel Lifts Snorre A Module

Apr 07, 2020

World's largest semi-submersible crane vessel Sleipnir on Saturday picked up a module for Equinor's Snorre A platform from the quayside at Aibel's yard in Haugesund, Norway.The 220-meter long and 102-meter wide vessel Sleipnir recently arrived…

Layoffs, Furloughs at Magseis Fairfield

Apr 07, 2020

Magseis Fairfield, a company specializing in Ocean Bottom Node (OBN) offshore surveys, has announced cost-cutting measures which will include layoffs and furloughs.Citing increased market uncertainty due to the coronavirus and lower oil prices…

Iran's South Pars Field Tops 700 MCM/Day Output

Apr 07, 2020

Daily gas production at Iran's South Pars field reached more than 700 million cubic meters (mcm) per day in the last Iranian calendar year, the head of the Pars Oil and Gas Company (POGC) said on Sunday, according to the official IRNA news agency…

North Sea FPSO Shut Down Due to Coronavirus Case Aboard

Apr 07, 2020

Production from the Hummingbird Spirit FPSO operating at the Chestnut field in the UK sector of the North Sea has been shut down after a coronavirus case has been confirmed aboard.It was initially understood that there has been one confirmed case…

Exxon Cuts Spending by $10B

Apr 07, 2020

Exxon Mobil Corp on Tuesday throttled back a multi-year investment spree in shale, LNG and deep water oil production and will cut planned capital spending this year by $10 billion as the coronavirus pandemic saps energy demand and oil prices…

Global Petroleum in Offshore Namibia 'Data for Equity' Deal

Apr 07, 2020

Oil company Global Petroleum has exchanged part of its stake in offshore Namibia Block, 2011A (PEL0094), with NAMCOR, for a right to get access to pre-existing 3D seismic data over the block.'This key data, acquired by previous licensees in 2010…

Chinese Refiners Buy Rare North Sea, Guyana Crude at Low Prices

Apr 07, 2020

Chinese independent refiners have snapped up rare crude grades from the North Sea and Guyana at low prices in an oversupplied market after the coronavirus pandemic destroyed demand, four sources with knowledge of the matter said on Tuesday.The North Sea grades bought included Balder…

Ithaca Cuts Spending. Cashflow Buoyant Even at $1 a Barrel

Apr 07, 2020

Delek's British North Sea oil and gas producer Ithaca Energy will cut spending by about half to $120 million this year, it said on Tuesday, adding that cashflow remains strong in spite of a recent slump in oil prices.Ithaca, which its owner has said could list on the London stock market this year…

BP Terminates Senegal/Mauritania Survey Deal with EMGS

Apr 07, 2020

British oil major BP has terminated the contract with the Norwegian offshore survey company EMGS for a survey in Senegal and Mauritania, where it operates the Tortue Ahmeyim offshore development. As previously reported, EMGS had mobilized its Atlantic Guardian vessel…

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