Capricorn Norge receives drilling permit
The Norwegian Petroleum Directorate has granted the company a permit for well 35/8-7S in production licence 880.
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The Norwegian Petroleum Directorate has granted the company a permit for well 35/8-7S in production licence 880.
The company has reduced its drilling, completion and facilities capital budget by approximately 45%.
The wider Greater Buchan Area in the UK North Sea contains discovered oil and gas resources in excess of 200 million boe.
The company is aiming to reduce spending as a result of market conditions caused by the Covid-19 pandemic and commodity price decreases.
Drilling activities at the SH-13 well have been suspended due to Covid-19.
The Kenli 6-1 discovery is expected to be the first large-sized oilfield in the Laibei lower uplift.
Carnarvon Petroleum and Santos, the operator of the offshore Dorado field, are working on entering the FEED phase.
A review of 66 projects on the Norwegian continental shelf (NCS) between 2007– 2018 has revealed that most have kept their estimated costs.
The company's separation into TechnipFMC and Technip Energies has been delayed by the Covid-19 pandemic, the sharp decline in commodity prices, and the heightened volatility in global equity markets.
Malampaya services approximately 30% of the Philippines' demand for electricity.
Activity reductions are planned in the Permian Basin, Egypt and the North Sea.
Murphy’s revised 2020 budget is now approximately US$950 million, a nearly 35% revision.