The devastating effect of the COVID-19 pandemic on global oil and gas exploration and production (E&P) companies is better understood by looking at the industry’s expected total annual revenues for 2020
Exploration & Production
‘New licensed offshore acreage is likely to fall by about 60 per cent’
More than half of the world’s planned licensing rounds are likely to be cancelled this year due to the combined effect of the COVID-19 pandemic and the ongoing oil price war, a Rystad Energy impact analysis forecasts
‘Investors unlikely to commit exploration budget to licensing rounds in near term’
Investors have not faced both a decrease in global oil demand and a significant and potentially prolonged increase in oil supply at the same time before, which has created unparalleled uncertainty
SDX Energy finds new gas onshore Morocco
SDX Energy, the MENA-focused oil and gas company, has encountered commercial quantities of gas from its new Morocco well
US$20 trillion to be spent on natural gas E&P over next 20 years: Xodus Group
Xodus Group new report shows that as much as US$20 trillion would need to be spent on natural gas exploration and production over the next 20 years
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