IOG receives UK OGA approval for field development plan
IOG has received the approval for its Core gas project in the North Sea.
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IOG has received the approval for its Core gas project in the North Sea.
The company has said that site construction works will commence on the West Newton B drilling site in due course.
The company has completed completed a second series of development drilling of wells at the Panuco field for a major oilfield services company.
Rystad has warned however that stock build will still overwhelm remaining global storage, which will fill in weeks.
Following OPEC+'s agreement to cut oil production by 9.7 million bpd from 1 May 2020, Azerbaijan has announced the commitments it will take as a member.
Kazakhstan has pledged to cut its output by 390 000 bpd in May and June.
The sale includes effectively all of Gyrodata’s directional drilling personnel, as well as its high-performance drilling motors and measurement while drilling (MWD) tools.
ExxonMobil has announced an estimated 1Q20 loss of US$610 million compared with earnings of US$2.4 billion a year earlier.
Chevron has reported earnings of US$3.6 billion for 1Q20, compared with earnings of US$2.6 billion in 1Q19.
The two jack-up drilling rigs sold are the Dhabi II and the Paragon B152.
Valaris has reported a net loss of US$3.01 billion for 1Q20 compared to a net loss of US$216 million in 4Q19.
The company said it would cut its 2020 spending by US$300 million versus a previous US$170 million and against an original plan of US$1.31 billion and consider further reductions if low oil prices persist.