The energy industry was under strain even before the pandemic, which exacerbated these weaknesses and led to the biggest ever decline in energy demand and sharply lower oil and gas prices, according to the World Energy Council’s global survey
Exploration
Cheiron achieves first oil from Gulf of Suez field
Independent exploration and production company Cheiron has announced that the GNN-4 well, which was drilled to assess the recent GNN oil discovery, was completed and tested successfully at an initial rate of more than 2,000 bopd
DeepTech Oil Services adds new testing pool and crane to its Cairo facility
Deepwater remote operations specialists DeepTech Oil Services has expanded its premises with a new testing pool and crane to its 3600 sq m custom built facility in Cairo
Global oilfield services demand to drop by 25 per cent due to COVID-19 downturn
The downturn caused by COVID-19 is projected to cause an annual 25 per cent decline in global demand for oilfield services (OFS), a Rystad Energy analysis shows
Recoverable oil loses 282bn bbl as COVID-19 hastens peak oil
The 2020 release of Rystad Energy’s annual global energy outlook reveals that the COVID-19 downturn will accelerate peak oil demand, put a lid on the exploration efforts in remote offshore areas and reduce the worlds recoverable oil by around 282bn bbl
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