Oil companies are on track to discover 10 billion barrels this year, despite the coronavirus pandemic temporarily halting exploration activity this spring, according to Rystad Energy.
North Sea oil firm Apache was in the black in the third quarter of 2020 as its cost-saving initiatives outstripped expectations.
Total remains committed to developing hydrocarbon resources, but the cost must be sufficiently low to survive in a world of lower prices, the company’s chairman and CEO Patrick Pouyanné has said.
Shell has struck a deal to farm into Kosmos Energy’s portfolio offshore Sao Tome & Principe, Suriname, Namibia and South Africa.
Stena Drilling has been awarded a new contract for work in the Suriname-Guyana basin with Tullow Oil.
Maersk Drillng has won a £16.6m ($20.4m) contract with Petronas off Suriname.
Total and Apache have made a second discovery offshore Suriname, at Block 58’s Sapakara West-1 well.
Kosmos Energy has set out plans to reduce planned capital expenditure in 2020 to under $250 million.
Kosmos Energy has reported a net loss of $36 million for the fourth quarter of 2019, although free cash flow reached $139mn for the period.
Apache and Total have announced a “significant oil discovery” off the South American nation of Suriname.
Total announced its entry into Suriname with a 50% interest in a block held by Apache off the Southern American nation’s coast.
US oil firm Kosmos Energy said today that it would redrill a well off Suriname after encountering "shallow bore hole stability issues" with its first effort.
Tullow Oil said today that it remains "fully committed" to Suriname after a wildcat well off the country came up dry.
ExxonMobil and project partners Hess and Statoil have signed a production sharing contract for a block off Suriname.
A consortium made up of ExxonMobil, Hess and Statoil has reached an agreement with Suriname’s energy agency on a production sharing contract for block 59 in the country.
Noble Corporation has been awarded new contracts for one of its drillships in the Gulf of Mexico and Suriname.