BW Offshore leases BW Pioneer FPSO for Gulf of Mexico work
BW Offshore has signed a five-year contract for the lease and operation of the BW Pioneer FPSO on the Cascade and Chinook fields on behalf of MP Gulf of Mexico.
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BW Offshore has signed a five-year contract for the lease and operation of the BW Pioneer FPSO on the Cascade and Chinook fields on behalf of MP Gulf of Mexico.
The contract is for the development, qualification and field trials of autonomous inspection/intervention subsea drones.
The company has reduced its estimate of 2020 capital expenditures to US$15 million to US$25 million from its prior level of US$50 million to US$100 million.
Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent, say Rystad.
The discoveries were made at the Evra and Iving exploration well, close to the Balder and Ringhorne field.
Petronas, the operator of Gharraf, has evacuated its staff from the Iraqi oilfield.
The reductions to the company’s 2020 capital budget will be primarily achieved by shifting from a six rig programme to one rig in the Bakken, which is expected to be completed by the end of May.
The Norwegian Petroleum Directorate has granted the company a permit for well 35/8-7S in production licence 880.
The company has reduced its drilling, completion and facilities capital budget by approximately 45%.
The wider Greater Buchan Area in the UK North Sea contains discovered oil and gas resources in excess of 200 million boe.
The company is aiming to reduce spending as a result of market conditions caused by the Covid-19 pandemic and commodity price decreases.
Hydrocarbons were encountered at the Isabella exploration well, with 64 m net pay encountered, consisting of lean gas and condensate and high-quality light oil.