EMGS has been advised by Pemex that the company will not receive additional acquisition work under the two-year acquisition contract announced last year.
EMGS has been advised by Pemex that the company will not receive additional acquisition work under the two-year acquisition contract announced last year. EMGS said that it will immediately initiate a comprehensive cost reduction programme to adjust to the new confirmed backlog level.
Somalia has ratified the country’s petroleum law, creating the Somali National Oil Company (SONOC) and the Somali Petroleum Authority to act as a regulatory body overseeing oil and gas activity. Somalia’s first offshore licensing round will conclude later this year with a closing date for submissions of bids at the end of Q3 2020.
Axxis Geo Solutions has won a contract from a major international oil company to carry out an ocean bottom node (OBN) survey in the North Sea. The work is expected to commence in the second quarter of 2020. The scope of work will include acquisition of 67 km2 of receiver area, comprising of approx. 30 days of operation for an OBN crew consisting of two seismic vessels.
Petrobras has extended the deadline for the sale of its equity interest in the BM-PAMA-3 and BM-PAMA-8, concession in the Para-Maranhao Basin offshore Brazil. Companies will now have until 3 May 2020 to express interest.
Fugro has partnered with the US National Oceanic and Atmospheric Administration Office of Ocean Exploration and Research (NOAA OER) to use remote command and control technologies to acquire high-resolution data for mapping deepwater areas of the US Exclusive Economic Zone (EEZ). Some 28,000 km2 of mapping data in the Blake Plateau region off the coasts of Georgia and Florida has been delivered to NOAA.
Marathon Oil has responded to the dramatic fall in commodity prices by reducing capital spending in 2020 by at least $500 million to $1.9 billion.
