Santos cuts 2020 CAPEX by 38%
Santos has reduced its 2020 CAPEX by US$550 million.
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Santos has reduced its 2020 CAPEX by US$550 million.
The new seismic datasets from Indonesia will be used to support the country's upcoming 2020 licensing round.
The company is to reduce CAPEX and exploration spending by 20% each for 2020.
OKEA has said the Yme offshore project in the Norwegian North Sea, operated by Repsol, remains on schedule for first oil in 2H20.
Production from the White Rose field and its satellite extensions, located 350 km off the coast of Newfoundland and Labrador, is still continuing.
The additional work is estimated to be totalling 7 vessel months and will continue into 2Q20.
The Karish gas field offshore Israel was 72% physically complete at 31 December 2019 and remains on track to deliver first gas in 1H21.
The Gulf of Mexico operator will deploy DiscoveryTM, Tracerco’s Subsea CT Scanner, to obtain critical baseline integrity data on the new pipeline system.
CNOOC has a 25% stake in the Stabroek block as part of a consortium with operator ExxonMobil and Hess Corp.
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.
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.