Africa
Discoveries
SDX Energy Makes Commercial Gas Discovery in Egypt
The company estimates the well, which was drilled to a measured depth of 7,245 feet, encountered about 24 billion cubic feet equivalent of recoverable gas and condensate resources.
Highlights , Shale Plays
Best of This Week’s Drilling Activity Highlights (April 3, 2020)
Two extended-lateral Wolfcamp Shale producers completed by CrownQuest and a horizontal Frontier discovery in Wyoming’s Converse County top this week’s drilling activity highlights from around the world.
Business , Exploration & Production
Cairn Energy Reduces Senegal, UK Spending Plans
Oil and gas producer Cairn Energy on March 27 reduced investment plans by about a fifth, following the fall of oil prices to less than $30 per barrel.
Field Development
Woodside, Partners Review Timing of $4.2 Billion Senegal Oil Project
The project is Senegal’s first oil development and key to Woodside’s growth plans over the next seven years.
Drilling
Tullow Cancels Maersk Drilling Contract Offshore Ghana
Maersk Drilling has received a notification from Tullow Ghana Ltd. on March 24 of early termination for convenience of the drilling contract for the drillship Maersk Venturer.
Seismic
Seismic Firm Polarcus’ Project Cancellations Highlight Oil Price Slump
Polarcus Ltd., which operates ships that search for offshore oil and gas, announced two project cancellations on March 23 that will reduce its fleet utilization next quarter, highlighting the effects of the oil price slump on the energy services sector.
Crude Oil , Trade , Legislation
Iraq Oil Minister Urges OPEC, Non-OPEC Emergency Meeting
In a letter seen by Reuters, Iraq's oil minister asked OPEC Secretary-General Mohammad Barkindo to help "urgently achieve" extraordinary meetings of the OPEC+ group.
Field Development
BW Energy Begins Tortue Phase 2 Production Offshore Gabon
Production began on March 7, just three days after BW marked first oil from the DTM-5H well.
Subsea
TechnipFMC Wins EPCI Contract For BP’s Platina Field Offshore Angola
TechnipFMC has been awarded a significant integrated engineering, procurement, construction, and installation (iEPCI) contract on March 10 from BP Angola for the Platina field development, located offshore Angola in Block 18 at water depths ranging from 1,200 m to 1,500 m.
Crude Oil , Trade , International
OPEC Countries Lose $500 Million A Day In Oil Price Crash
For the most part, oil is a top income source for members of OPEC and such a dramatic fall in prices will put a strain on their economies.