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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
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
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.
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
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
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.
12 Jul 20
Norway: Three finalists nominated for NPD's IOR award 2020
Three finalists have been nominated for the Norwegian Petroleum Directorate’s IOR award for 2020. The finalists are the licensees on the Grane field in the North Sea, researcher Geir Evensen and oil company Lundin. The IOR award goes to production licences, companies, projects or individuals who are expected to create added value on the Norwegian Continental Shelf through innovative work for improved recovery.

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