ANP suspends 17th Bidding Round
ANP announced the suspension in compliance with a request from the country's Ministry of Mines and Energy.
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ANP announced the suspension in compliance with a request from the country's Ministry of Mines and Energy.
The company has more than US$585 million of cash on its balance sheet and will continue to operate its business in the normal course without material disruption to its vendors, partners or employees.
The project is due to commence in 2Q20 and last approximately 3 months.
The expanded coverage over the Malvinas and Austral Basins adds to Searcher’s existing data in the area.
Australia's National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has advised of its acceptance of the Scarborough offshore project proposal.
The company has announced a 30% reduction in 2020 CAPEX to US$300 million.
Oil production will be cut by 200 000 bpd, a volume that includes the reduction of 100 000 bpd announced on 26 March 2020.
At 4265 ft (1300 m), the first well that has been opened for early first gas is the deepest water depth opened by ONGC.
The company has said it has sufficient liquidity to weather the challenges of low commodity prices and the Covid-19 pandemic.
BP has cut its 2020 spending plans by 25% and will reduce output from its US shale oil and gas business.
Applied Petroleum Technology will provide geochemical analyses including consultancy services to deliver interpretation of drilling samples and other reservoir data.
The company's 2019 projects were mainly concentrated in Russia and Uzbekistan.