Australian firm Woodside has moved to whisk the purchase of Cairn Energy’s 40% stake in the Sangomar project off Senegal out from under the nose of Russian firm Lukoil.
Australia’s FAR is in default for its payments due on the Sangomar field, following recent talk of delays in Senegal’s upstream plans.
Australia is seeking to cut emissions in one of the world’s biggest per-capita polluters by encouraging oil firms including Chevron Corp. and Woodside Petroleum Ltd. to invest in carbon-reduction projects.
Australia’s FAR has been unable to secure financing for its stake in the Sangomar field development and so has begun a process to sell all, or a part, of its stake in the Senegalese project.
Demand destruction and sustained oil prices below $40 per barrel mean Asia Pacific is bracing itself for a brutal wave of cost cutting that will see its reliance on imports rise as upstream investment is hit hard.
Woodside Petroleum has slashed its spending this year by 50%, to around $2.4 billion, but Senegal’s Sangomar development should progress as planned.
Australia’s FAR has temporarily suspended plans for drilling offshore The Gambia, in response to the coronavirus pandemic, while the oil price crash has made talks on securing debt for Senegal’s Sangomar development harder.
Looming wave of final investment decisions (FIDs) will provide massive boost for offshore oilfield service sector in Southeast Asia
Australia’s Woodside Energy has approved the 100,000 barrel per day Sangomar project, offshore Senegal, launching agreements with suppliers and putting the field on course to begin production in 2023.
The Sangomar development and exploitation plan has been submitted to the Senegalese government, operator Woodside Energy has said, with the final investment decision (FID) for the project expected later this month.
Subsea 7 has today confirmed a multi-million deal with Australian liquefied natural gas (LNG) producer Woodside for the second phase of its Julimar-Brunello project.
Uniper is confident that LNG supply will continue to be bountiful in the years to come, providing a secure source of supply for demand around the world, company board member Keith Martin told Energy Voice at ADIPEC.
Developing the SNE field will require capital expenditure of around $4.2 billion, a presentation by Australia’s FAR has said, versus the previous projection of $3bn.
Woodside Energy is pushing ahead with its Scarborough plan, even while the final investment decision (FID) for Browse has been pushed back to the first half of 2021.
Subsea firm TechnipFMC has announced a multi-million deal with Woodside at its Pyxis and Xena fields, located offshore North West Australia.
Rig operator Valaris has announced a number of global contracts and contract extensions totaling almost £200 million.
Australia’s Woodside Energy has signed a preliminary deal on supply LNG to Uniper Global Commodities.
Industrial services firm Altrad said its half-year results showed its efforts to integrate companies acquired in recent years had been a “tremendous success”.
Subsea 7 said today that it had won three engineering studies contracts with Woodside since December 2018.
Norwegian pipeline inspector Halfwave will wield its acoustic resonance technology (ART) in Australia.
Australian firm Woodside has handed oil field service giant TechnipFMC the contract for upgrading the Pluto platform for water treatment.
The next phase of a collaborative industry effort to develop “a better understanding” of subsea equipment has been launched by Wood today.
Engineering and tech firm, Wood, has secured two new contracts with Woodside to deliver engineering and rig modification services in offshore Australia.
Woodside has awarded ICON Engineering the Greater Enfield subsea rig interface work.
Chevron and Woodside Energy today celebrated first gas from the Wheatstone Project in Western Australia.