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01 Dec 20
Denmark: Orsted appeals against decision from the Danish Tax Agency on Danish taxation of two offshore wind farms in the UK
Ørsted has received an administrative decision from the Danish Tax Agency requiring Danish taxation of the company’s British offshore wind farms Walney Extension and Hornsea 1 in the tax years 2015 and 2016. The Danish Tax Agency’s claim amounts to DKK 5.1 billion, plus interest amounting to DKK 1.5 billion.
01 Dec 20
Malaysia: Samsung Engineering receives USD 1.07 billion contract for the Sarawak Methanol Project in Malaysia
Samsung Engineering has received an LOI for a $ 1.07 billion contract from Sarawak Petchem, building a methanol plant in Sarawak, Malaysia.
01 Dec 20
ESG Factors: Total once again selected in 2020 in the Dow Jones Sustainability Indices
S&P Dow Jones Indices has announced the 2020 results for the Dow Jones Sustainability Indices (DJSI) which assess companies on ESG (Environment – Social - Governance) criteria. Total was once again selected as a member of the DJSI World and DJSI Europe indices.
01 Dec 20
Brazil: PGS returns to Brazil for Campos Deepwater GeoStreamer X Phase 2
PGS Ramform Titan is about to continue acquisition of the Campos Deepwater GeoStreamer X, a prefunded MultiClient 3D seismic survey with multi-azimuth coverage. In December 2020, PGS will resume operations, to acquire an additional 8,400 sq km. This survey provides the first 3D seismic for 17th Round blocks.
01 Dec 20
Australia: Triangle Energy resumes production at Cliff Head
Perth Basin oil producer Triangle Energy has advised that the CH-7 well at the Cliff Head oil field returned to production on 28 November 2020 after a successful Workover Programme.
01 Dec 20
Ireland: Merlin completes landmark project - The Standard Stratigraphic Nomenclature of Offshore Ireland
Merlin Energy Resources has announced the completion of the landmark PIP-PAD IS16/04 project 'The Standard Stratigraphic Nomenclature of Offshore Ireland: An Integrated Lithostratigraphic, Biostratigraphic and Sequence Stratigraphic Framework'.
01 Dec 20
Faroes: Minesto reaches historic milestone - delivers first tidal energy to the Faroese grid
As a part of the ongoing commissioning work of its DG100 tidal kite system Vestmannasund, Faroe Islands, leading marine energy developer Minesto has reached the milestone of delivering electricity to the Faroese grid facilitated by the Power Purchase Agreement with the utility company SEV.
01 Dec 20
ExxonMobil to prioritize capital investments on high-value assets
ExxonMobil has completed a review of its forward business plans and will prioritize near-term capital spending on advantaged assets with the highest potential future value, including developments in Guyana and the U.S. Permian Basin, targeted exploration in Brazil and Chemicals projects to grow high-value performance products.
01 Dec 20
S&P Global and IHS Markit to merge in all stock transaction valuing IHS Markit at USD44 billion
S&P Global and IHS Markit have entered into a definitive merger agreement to combine in an all-stock transaction which values IHS Markit at an enterprise value of $44 billion, including $4.8 billion of net debt.
01 Dec 20
Ireland: Providence Resources signs farmout agreement with SpotOn for SEL 1/11 - Barryroe oil and gas field
Providence Resources has announced that the Barryroe Partners have signed a Farm-Out Agreement with SpotOn Energy in relation to the Barryroe oil and gas field in SEL 1/11, offshore Ireland.
01 Dec 20
UK: Deltic Energy announces formal award of six licences in the UK's 32nd Offshore Licensing Round
Deltic Energy has reported that further to the provisional award of new licences in the UK's 32nd Offshore Licensing Round announced on 3 September 2020, six new licences comprising twelve blocks have now been formally awarded to Deltic by the UK Oil and Gas Authority.
01 Dec 20
Bahamas Petroleum announces Trinidad and Tobago and Suriname strategy update
Bahamas Petroleum has provided an update on its strategy, deliverables and 2021 work program for its portfolio of assets in Trinidad and Tobago and Suriname. The Company's work program priorities follow receipt of a Competent Person's Report by independent reserves auditor ERC Equipoise.
01 Dec 20
UK: Reabold Resources exercises warrants in Corallian Energy
Reabold Resources has exercised 272,727 warrants over shares in Corallian Energy equating to an investment of approx. £600,000. The exercise of the warrants follows the successful offer of licences to Corallian by the Oil & Gas Authority as part of the 32nd UK oil and gas licencing round.
30 Nov 20
Santos upgrades 2020 guidance
Santos has upgraded its 2020 production guidance to 87-89 million barrels of oil equivalent (mmboe) and lowered its production cost guidance to $8.00-8.50/boe. The upgrade in production guidance, from 83-88 mmboe, is due to strong operating performance across the base business and represents 15-18 per cent production growth for the year and more than 50 per cent growth since 2015.
30 Nov 20
Santos to be net-zero emissions by 2040
Santos has announced ambitious new emissions reduction targets which will result in net-zero emissions by 2040.
30 Nov 20
Axxis Geo Solutions announces Q3 2020 results
Axxis Geo Solutions has announced its Q3 2020 results. The challenges resulting from the COVID-19 pandemic continued in Q3 2020 and to date the Company has been unsuccessful in securing work for its crews in Q4-20 and Q1-21 as start dates for projects have been moved out in time.
30 Nov 20
Atlantic Petroleum announces 3rd quarter results 2020
Atlantic Petroleum has posted its 3rd quarter results for 2020. The company is looking for opportunities to expand and re-build the company and hopes to be able to secure new assets in 2021.
30 Nov 20
Prices at stake: If OPEC+ increases output in January, a 200 million-barrel glut will build through May - Rystad Energy
As the world is aching to put an end to a devastating 2020, oil producers are now assessing the lasting effect of the pandemic into 2021 – and in particular, the consequences of oil demand destruction to global balances.
30 Nov 20
Egypt: TechnipFMC commences work on the new Hydrocracking Complex in Egypt for Assiut National Oil Processing Company (ANOPC)
TechnipFMC has successfully completed the remaining conditions required to enable work to commence on the Engineering, Procurement, and Construction (EPC) contract with Assiut National Oil Processing Company (ANOPC) for the construction of a new Hydrocracking Complex for the Assiut refinery in Egypt.
30 Nov 20
Saudi Arabia: Aramco announces expansion of its flagship localization program
Aramco has announced the expansion of its flagship program to increase local content and boost domestic supply chains. It is a significant milestone in the company’s In-Kingdom Total Value Add (iktva) program, which marks its fifth anniversary on December 1st.
30 Nov 20
DNV GL calls for action on five key strategies to accelerate global decarbonization
Political leaders are making strides in climate change this month with election commitments from President-elect Biden in the US, UK Prime Minister Johnson launching a 10-point plan for a Green Industrial Revolution and the European Union unveiling plans to increase offshore windfarm capacity 25-fold as part of the Green Deal, but more action is required to get in striking distance of the Paris Agreement, according to DNV GL.
30 Nov 20
Netherlands: Orsted's first Dutch offshore wind farm fully commissioned
Ørsted has fully commissioned the Borssele 1 & 2 offshore wind farm. The wind farm has a capacity of 752 MW, making it the largest offshore wind farm in the Netherlands and the second largest operating offshore wind farm in the world. Borssele 1 & 2 provides enough green electricity to power one million Dutch households.
30 Nov 20
Oman: CGG wins three-year contract extension for Oman dedicated processing center
CGG has been awarded a three-year contract extension by Petroleum Development Oman (PDO) to continue providing advanced land seismic imaging services at its dedicated processing center (DPC) in Muscat.
30 Nov 20
Norway: Equinor given consent to drill exploration well 7220/7-4 in the Barents Sea
Norway's Petroleum Safety Authority has given Equinor consent to drill exploration well 7220/7-4 in production licence PL 532, in the Barents Sea. The well will be drilled to test a prospect named Isflak.
30 Nov 20
Falklands: Rockhopper provides Sea Lion farm-in update
AIM-listed Rockhopper Exploration has provided an update in relation to the previously announced farm-in to the Sea Lion project by Navitas Petroleum. Following the announcement of the proposed merger of Premier Oil and Chrysaor Holdings, Navitas has confirmed that it remains committed to the proposed farm-in.
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