Exploration and production firm CNOOC has turned to an online resource managed by the UK oil sector’s regulator for help unlocking a North Sea project which is at risk of being left “stranded”.
Westwood Global Energy reports that as of December 2 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. At the time of writing, the first appraisal well of the year was preparing to spud.
Neptune Energy fell to a loss in the third-quarter as its figures came under pressure from lower oil and gas prices and “operational issues” in Norway and Algeria.
Westwood Global Energy reports that as of October 28 there was one exploration well active in the UK. So far in 2020, four exploration wells have completed. There has been no appraisal drilling to date this year.
Zennor Petroleum’s boss has said the private-equity-backed oil and gas company is “sitting comfortably” in spite of the Covid-19 pandemic and commodity price drop.