Bay du Nord project delayed by oil price collapse
Equinor has made no changes to schedules of other projects, including the second phase of its giant Johan Svedrup oilfield development in the North Sea and the Arctic Johan Castberg project.
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Equinor has made no changes to schedules of other projects, including the second phase of its giant Johan Svedrup oilfield development in the North Sea and the Arctic Johan Castberg project.
A total of 22 companies participated in Lease Sale 254, submitting US$108 587 185 in total bids.
The discovery could bring over US$50 million in revenue per year to the Surinamese government, if it sees similar success to Guyana’s Stabroek, according to GlobalData.
The effects of Covid-19 are likely to affect the planned timing of the DTM-7H well and the subsequent firm exploration well, according to the company.
The two affected sites are the Heather and Thistle/Deveron fields.
i3 Energy will utilise either the Borgland Dolphin or Blackford Dolphin semi-submersible drilling rig for a minimum 82-day programme.
The company is to manufacture 20 Cabral 512 deepwater mooring lines for the FPSO, which is working in ExxonMobil’s Liza oilfield offshore Guyana.
The discovery was made in the Karabagh oilfield 120 km offshore.
The fall in oil and gas prices and the impact of the coronavirus has led to the industry body to call for government support.
The oil price is soon expected to slide even lower once the extra supply becomes available from April.
Varel will use the investment from Blue Water Energy to drive growth in the medium-term.
Express Engineering's subsea engineering assembly and test centre is due to come onstream in late 2020.