Nigeria delays bidding rounds for major oilfields
Nigeria will not hold bidding rounds for major oilfields until crude prices recover, and some upstream projects will be completed much later than originally planned.
Browse the latest upstream news news and articles.
Nigeria will not hold bidding rounds for major oilfields until crude prices recover, and some upstream projects will be completed much later than originally planned.
Cuts in the industry's investment budgets will leave only US$60 billion worth of greenfield tenders for contractors to compete for, the lowest in two decades, according to Rystad Energy.
The Tilapia oilfield is located in the Republic of the Congo.
The approximately 14 million shares being divested by Equinor amount to a 4.88% interest in Lundin Energy.
The Logan A-frame is a heavy weather, work class ROV launching system, designed to move some of the largest, work class ROVs in the market.
The project was carried on the Noble Sam Croft drillship for Apache Corp.
The company reported a net loss of US$335 million for the quarter, compared to a net profit of US$112 million in the previous quarter.
The Norwegian oil and gas operator has announced completion of testing and appraisal of the Baeshiqa-2 exploration well in the Kurdistan Region of Iraq and the imminent spud of an exploration well on a separate prospect.
The survey in the North Sea is expected to commence later in 2Q20 and will have a duration of approximately 30 days.
Oil prices rose on Tuesday as lockdowns start to ease globally and traffic fuel consumption, among the main reasons demand has fallen, increases.
Upwing Energy will be recognised for winning the Spotlight on New Technology® Award for its Subsurface Compressor System™ (SCS) at the 2021 Offshore Technology Conference (OTC), due to the cancellation of the event this year.
The field started operating in 2009 and its average production in 2019 was 105 bpd of condensate and 1.269 million m3 /d of gas.