Field/project development
The loan to Arena Energy will generate an estimated 38,600 B/D in new production from 22 platforms in the Gulf.
TotalEnergies signed off for 30% operated stakes in the Lang Lebah and B14 gas fields offshore Sarawak on the sidelines of ADIPEC in Abu Dhabi, while also highlighting methane-reduction partnerships in Angola, India, and Southeast Asia.
New rules requiring Mozambique’s LNG industry to supply 25% of production to the domestic market could stabilize gas deliveries to South Africa’s Secunda industrial center as the Pande and Temane gas fields near depletion.
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The natural gas pipeline is co-financed by the EU, with work beginning immediately. -
The deferments are the latest actions Shell has taken in response to record low crude prices.
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The announcement comes as Aker BP has stopped all nonsanctioned projects. The remaining two Phase 2 wells will come on stream in 2021.
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This contract is for the development of the Lambert Deep and Phase 3 offshore Northwest Australia.
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The contracts were awarded in February. Petrofac said it is working with ADNOC to explore alternative options.
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Shell remains involved in the Salym Petroleum Development JV with Gazprom after dropping out of the planned Meretoyakhaneftegaz JV.
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Subsea 7’s installation services contract is the latest Chevron award for its Anchor field project. First oil from the project is expected in 2024.
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McDermott was selected previously for a study of the FPU. Completion of the Trion project is expected in Q3.
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Unprecedented, perfect storm, a black swan event—all ways of describing the situation the oil and gas sector finds itself in right now. Here’s an analysis on the near-term outlook for projects in Asia Pacific.
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Revised estimates of project sanctioning total $61 billion in 2020, which is down from $192 billion forecast in 2019.
