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Eigen and Wintershall Dea have extended their partnership to deploy the principal integration, visualisation and management platform for production engineers at the oil and gas company’s Brage oilfield.
Profit after tax (PAT) for 1Q20 stood at RM4.5 billion (US$1.03 billion), 68% lower than the RM14.2 billion posted in 1Q19.
The 900 km2 survey provides increased resolution and sharper imaging of prolific Upper Cretaceous plays in Ivory Coast block CI-706.
The license holders of the Duyung PSC are now Conrad Petroleum (76.5% operated interest), Coro (15% non-operated interest) and Empyrean Energy (8.5% non-operated interest).
Shell is the operator of the block with a 45% stake, along with Chevron, also at 45%, and Ecopetrol, with 10%.
Oil prices fell today as traders corrected the high levels that consecutive boosts created in previous days.
Saad al-Kaabi, the company's Chief Executive, said he expected oil demand to recover to pre-crisis levels only within a year or two.
The Parque das Baleias Area offshore Brazil has reached the mark of 1 billion bbl of oil produced.
The Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project is expected to reach its peak production of approximately 15 681 bpd in 2022.
The Archer Topaz modular rig has been contracted by TAQA to perform a 21-well plug and abandonment campaign for their Northern North Sea Cormorant Alpha platform.
The company has shut in the 205/21a-7Z well as it was unable to achieve its target rate sustainably from the two Lancaster Early Production System wells.
Despite the recent relative oil price recovery, dozens of US operators are still threatened by bankruptcies even at a WTI oil price of US$30/bbl, according to Rystad Energy.