Woodside has decided to reduce its total expenditure for 2020 by 50% in response to global uncertainty, which is almost certain to impact final investment decisions for several projects.
This follows the worldwide financial consequences of the COVID-19 crisis and the oversupply of crude oil and LNG, which has crashed prices.
Woodside said it is taking a prudent approach to cash flow management, given the considerable uncertainty in the near-term investment environment and the...
Carnarvon Petroleum said it was continuing with Dorado Project development as planned, with engineering and pre-FEED work streams being advanced in spite of corona virus upheavals.
The Perth-based explorer said current market conditions associated with the COVID-19 virus and lower oil price environment had created challenging business conditions, with many planned seismic acquisition programs in the 2020 calendar year expected to be deferred until market conditions improve and vessel...
Searcher has announced that it has reached a marketing and sales agreement with Timor-Leste’s Petroleum Authority, Autoridade Nacional Do Petroleo E Minerals (ANPM) for its Offshore Timor-Leste Data and Study Package.
Searcher, in collaboration with Discover Geoscience, said it was offering the industry rapid access to a comprehensive open-file seismic package “which will significantly expedite our clients ability to access a collection of organized seismic and well data to assist in...
Upstream Production Solutions has announced the appointment of Cameron Wills to the role of Chief Executive Officer.
Cameron joined the company in 2007 and has held executive leadership roles withUpstream PS since its acquisition from Oceaneering in 2014.
“Cameron has demonstrated a successful track record of being able to build sustainable client relationships and safely grow the business” said Geoff Jones, Managing Director, GREngineering.
“Cameron is ideally...
CGG announced that its backlog, from its new profile, at the end of February 2020 stands at $537m, up 34% compared to last year.
Following CGG’s recently announced exit from the marine and land acquisition business, CGG has transformed into a People, Data and Technology company providing a comprehensive range of data, products, services and equipment that support the discovery and responsible management of the Earth’s natural resources.
CGG published its Q4 2019...
Santos has chosen not to farm into Melbana Energy's Beehive prospect in the Bonaparte Basin off Western Australia.
The Adelaide-headquartered oil and gas company had an option to acquire an 80% interest in the block in exchange for funding the drilling costs of an exploration well. However, The deadline to complete the farm-in expired on March 4.
"Santos therefore no longer has any right to acquire an interest in the Permit. As a result, Melbana now has a 100% unencumbered...
88 Energy has begun drilling the eagerly anticipated Charlie-1 appraisal well in Alaska.
This brings to fruition a four-year target for 88 Energy, which had initially acquired 2D seismic over its Project Icewine acreage in 2016 and had targeted a drilling program for Charlie-1 ever since.
In the interim, 88 Energy reprocessed legacy 2D seismic in 2017, increased its acreage and shot 3D seismic in 2018 before farming down last year.
88 Energy managing director Dave...
Shearwater GeoServices has announced the award of a major Ocean Bottom Seismic deepwater ROV project by TGS and partner in the Gulf of Mexico, USA.
This will be Shearwater’s first OBS ROV (Remotely Operated Vehicle) survey and will leverage the company’s strengths in source capabilities, operational scale and flexibility, Shearwater Geoservices said.
“Shearwater has an extensive track record of innovation and commercial success in Ocean Bottom Seismic. By...
CGG has announced that it had completed the wind-down and exit from its land seismic data acquisition business after completing its last land seismic acquisition contract in Tunisia.
Following on from the company’s recently announced exits from seabed and marine data acquisition, this milestone marks the successful completion of CGG’s strategy to exit the seismic data acquisition business, the company said.
To date, CGG still retains a minority shareholding in the ARGAS company...