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14 Jul 20
Pakistan: MOL makes gas and condensate discovery in the TAL Block, Pakistan
MOL, as the operator of TAL Block in Pakistan, has made a new gas and condensate discovery. This marks the company’s 13th discovery in Pakistan and 10th discovery in the TAL Block.
14 Jul 20
Oil and gas drilling set for at least a 20-year low in 2020, unlikely to recover to 2019 levels soon - Rystad Energy
The COVID-19 pandemic has stymied oil and gas activity, a phenomena which has now affected the drilling market both in terms of wells drilled and in terms of related demand for drilling equipment. A Rystad Energy analysis shows the number of drilled wells globally is expected to reach around 55,350 this year, the lowest since at least the beginning of the century.
14 Jul 20
AGR scores 'excellent' in Achilles FPAL Compliance Audit
AGR's Well Management business unit in the UK is celebrating its highest ever score in the FPAL Verify system operated by Achilles, achieving a rating of ‘excellent’ in nearly all areas.
14 Jul 20
Brazil: Petrobras reduces cost of post-salt well construction
Petrobras has announced that in early July it completed, in half the time, the construction of the 7 GLF 49H ESS offshore well, in the Golfinho field, in the Espírito Santo Basin, 100 km from Vitória. This was the first post-salt well built with the application of the True One Trip Ultra Slender (TOTUS) concept.
14 Jul 20
Woodside announces post-tax impairment losses of US$3.92 billion
Woodside has undertaken a review of the carrying values of its assets in accordance with the Group’s accounting policies and the accounting standards. As a result, the financial statements for the half-year ended 30 June 2020 are expected to recognise non-cash, post-tax impairment losses of US$3.92 billion
14 Jul 20
Senior industry figures launch energy transition advisory company
Leading oil and gas professionals have launched BluEnergy, committed to enabling oil and gas companies to leverage their existing asset base to create low carbon energy streams, generating value whilst reducing carbon intensity.
14 Jul 20
Norway: Wintershall Dea extends Head Energy's Brage contract
Wintershall Dea has opted to extend the frame agreement with Head Energy concerning modifications at the Brage platform. Head Energy was awarded the frame agreement for modifications at Brage in 2016 and the extension means that the contract now runs to 2022.
14 Jul 20
Neptune Energy joins European Clean Hydrogen Alliance
Neptune Energy has joined the European Clean Hydrogen Alliance, supporting the development of the EU’s hydrogen strategy. The alliance was launched last week, bringing together industry, public authorities and civil society. It is part of the EU's strategy to support efforts for Europe to become carbon neutral by 2050.
14 Jul 20
Australia: NOPSEMA approves 3D Oil's Sauropod 3D survey in Roebuck Basin permit WA-527-P
NOPSEMA has approved 3D Oil's proposal to acquire the Sauropod 3D marine seismic survey in the Roebuck Basin, within exploration permit WA-527-P.
14 Jul 20
Australia: Senex Energy delivers major Surat Basin gas reserves upgrade
Senex Energy has released its independently assessed estimates of reserves and contingent resources as at 30 June 2020, reporting a 21% increase in Surat Basin 2P gas reserves to 739 PJ following outstanding execution of its Surat Basin natural gas developments.
14 Jul 20
Australia: Strike Energy to announces non-cash impairment of Cooper Basin assets
Strike Energy has conducted a detailed review of its Cooper Basin assets as part of its impairment testing and has assessed that, subject to audit, it will apply a non-cash pre-tax impairment as at 30 June 2020 of around A$91 million to fully impair its assets in the Cooper Basin.
14 Jul 20
Norway: Equinor makes minor oil discovery near the Vigdis field in the North Sea - 34/7-E-4 AH
Equinor, operator of PL 089, has completed the drilling of wildcat well 34/7-E-4 AH just northwest of the Vigdis Vest field in the northern part of the North Sea. The well encountered oil in the Middle Jurassic. The discovery is presumed to be commercial and will be considered for tie-in to the Vigdis field.
14 Jul 20
Egypt: SDX Energy announces sale of non-core Egyptian asset
AIM-listed SDX Energy has disposed of its 50% working interest in the North West Gemsa licence, situated in the Eastern Desert of Egypt. The purchaser, Gulf Energy, a private Egyptian oil and gas company, has paid US$3.0 million in consideration for the Company's interest.
14 Jul 20
Australia: Santos looks to hydrogen future through carbon capture and storage
Santos has commenced a concept study on a hydrogen future for the Cooper Basin. The concept study has been awarded to GHD, one of the world’s leading professional services firms in resources, energy and environment.
14 Jul 20
Thailand: Mubadala's 2020 development drilling and workover program increases production capacity at the Manora oil field
JV partner Tap Oil reports that gross production capacity at the Mubadala-operated Manora oil field has been increased by approx. 4,500 bopd with successful completion of the 2020 development drilling and workover program.
14 Jul 20
Iraq: Weatherford signs 18-month contract with Iraqi Drilling Company
Weatherford International has signed an 18-month contract with the Iraqi Drilling Company to provide services and project management for the drilling and completion of twenty wells in the Al-Nasiriyah field in the Dhi Qar province in southern Iraq.
13 Jul 20
Sweden: Eolus acquires seven wind power projects in early development
Eolus has signed an agreement to acquire seven wind power projects in early development phase from Vindkraft Värmland, a subsidiary of Modern Energy.
13 Jul 20
OPEC launches its 2020 Annual Statistical Bulletin
The OPEC Secretariat has launched the 55th edition of one of its flagship publications, the Annual Statistical Bulletin (ASB), via videoconference and livestream on the OPEC website.
13 Jul 20
Netherlands/Germany: Tulip Oil announces quarterly update
Tulip Oil has announced the latest quarterly update on its oil and gas exploration and production businesses in the Netherlands and Germany. Production at the Q10-A field offshore Netherlands has been partially reduced to 'leave gas in the ground' in view of the current low gas prices.
13 Jul 20
Australia: Beach Energy and Bridgeport Energy awarded permits offshore Victoria
Victoria State Minister for Resources Jaclyn Symes has announced that permits have been granted to Beach Energy and Bridgeport Energy to explore for gas off the state’s south west coast near Portland and Port Campbell.
13 Jul 20
Argentina: President Energy provides drilling and workover update
President Energy, the energy company with a diverse portfolio of production and exploration assets focused primarily in Argentina, has provided an update on its drilling and workover plans in Rio Negro Province, Argentina.
13 Jul 20
UK oil and gas industry welcomes job support and underlines need to remain focused on delivering successful transition
The UK’s offshore oil and gas industry has welcomed the Chancellor’s announcement of support for employers, including the Job Retention Bonus and moves to support more traineeships and jobs for young people.
13 Jul 20
Turkey: Valeura Energy announces trading update
Valeura Energ has provided a trading update for the three-month period ended June 30, 2020. The Company is seeking a seek a new partner to participate in the appraisal and development of its unconventional deep gas play in the Thrace Basin in Turkey.
13 Jul 20
Nigeria: LEKOIL executes definitive agreements for Otakikpo marginal field development
LEKOIL has announced that the Otakikpo Joint Venture has executed definitive agreements for the next phase of the Otakikpo marginal field development.
13 Jul 20
Brazil: K Line acquires interest in Marlim II project FPSO offshore Brazil
Kawasaki Kisen Kaisha (’K’ Line) has concluded agreements with Yinson Acacia, a wholly-owned subsidiary of Yinson Holdings, a Malaysian energy services provider and Sumitomo Corp, to participate in the floating production, storage and offloading (FPSO) owning and chartering business for the Marlim II Project, offshore Rio de Janeiro, Brazil.
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