KrisEnergy completes sale of Andaman II offshore block to BP
The consideration for the disposal is US$15 million, subject to a retention sum of US$1.7 million.
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The consideration for the disposal is US$15 million, subject to a retention sum of US$1.7 million.
The oil was discovered in the exploratory Natator well in the Sudoeste de Tartaruga Verde block.
The data covers the company’s Welwitschia Deep prospect and Marula lead.
The largest share of the company's capital spending reduction will be in the Permian Basin.
The company has said however that Premier Oil has withdrawn from the project, as the well did not meet its pre-drill expectations.
Rystad estimates total gas flaring declined to 700 million ft3/d in 1Q20, with 550 million ft3/d flared at the wellhead – the lowest quarterly flaring rate since 3Q18.
Under the agreement with Falcon Oil and Gas, Origin will increase its interest n the Beetaloo Basin JV to 77.5%.
Group production for the year to 31 December 2019 was in line with guidance at 13 886 boe/d on a working interest basis (19 356 on a pro forma basis).
The company is targeting carbon intensity of 6 kg CO2/boe by 2030.
The company's contract with Dubai Petroleum will end in October 2020 rather than January 2022.
The divestments include the sale of Total E&P Deep Offshore Borneo BV, which holds an 86.95% interest in Block CA1 offshore Brunei, to Shell.
Initial recoverable resource estimates put the discovery at between 26 and 97 million boe.