Second-half 2019 results show glimmer of hope for a promising 2020. This section profiles 43 major U.S. shale players operating in the Permian, Eagle Ford, Rockies, Midcontinent and Appalachia and covers their latest 2019 production results and 2020 forecasts.
The North Sea field, which began output on Oct. 5, is now western Europe’s largest oil producer.
Equinor will serve as operator during the development phase, while OMV will assume the role during the operation phase, Equinor said in a news release.
The project, which will be implemented by PT Pertamina Hulu Mahakam, is estimated to cost about US$1.5 billion.
The breakthrough follows months of talks between the two companies over what to charge for processing gas from the field through Woodside’s Pluto LNG plant.
Located in the Santos Basin offshore Brazil, the FPSO has a daily capacity of up to 150,000 barrels of oil and 6 million cubic meets of natural gas.
Production is expected to start in fourth-quarter 2020, the oil and energy ministry said Nov. 14.
The company plans to start Aerfugl production in first-half 2020, three years ahead of what had originally been billed as the field’s second phase.
The project in the Eastern Mediterranean is running ahead of schedule and is $150 million under budget.
Companies looking for alternatives to onshore developments have been rolling out exploration campaigns focused on areas where infrastructure already exists and using seismic data to help find more resources.