Global capital expenditure (capex) for exploration and production firms (E&Ps) is expected to drop by up to $100 billion this year, about 17% versus 2019 levels, under Rystad Energy’s updated base case scenario of $34 per barrel in 2020 and $44 per barrel in 2021.
Equinor and partner Neptune have struck oil in the Sigrun East prospect in the North Sea. Recoverable resources are estimated at between 7 and 17 million barrels of oil equivalent.
ExxonMobil has increased its estimated recoverable resource base in Guyana to more than 8 billion oil equivalent barrels and made a further oil discovery northeast of the producing Liza field at the Uaru exploration well, the 16th discovery on the Stabroek Block.
An Aberdeen-based provider of data science and predictive analysis services, OPEX Group, has secured a contract for digital services with Chrysaor, the UK’s leading independent E&P company
Aberdeen headquartered well engineering and project management firm, Zenith Energy, has started operations on a six-month contract in Morocco worth an estimated £1million in value.
i-Tech 7, Subsea 7’s Life of Field business unit, has successfully completed an underwater inspection in lieu of dry-docking (UWILD) project for Borr Drilling in the North Sea.
Nalcor Energy-Oil and Gas and Beicip-Franlab, in partnership with the Government of Newfoundland and Labrador, today released the 2019 Oil and Gas Resource Assessment results which identify an additional 3 billion barrels of oil and 5.8 trillion cubic feet of gas potential offshore Newfoundland.
Energy giants Total and Eni have joined forces to explore and exploit another oil and gas block up for grabs offshore from Cyprus, Cypriot authorities said Wednesday (18 September)
