The toll of the Covid-19 pandemic on upstream investments in the first two years of the downturn is estimated at a whopping US$285bn, and although spending will slowly start to rise from 2022, it will not reach pre-crisis levels in the coming period, according to a Rystad Energy report
Exploration
Zenith Energy completes acquisition of Candax Energy's Tunisian assets
Compagnie Du Desert (CDD), Zenith Energy’s fully-owned subsidiary, has completed the acquisition of a 100% interest in the fully-owned subsidiary of Candax Energy in Barbados, Ecumed Petroleum Tunisia (EPT), which holds a 100% interest in the El Bibane and Robbana concessions in Tunisia
Axora launches global challenge to help oil and gas companies impacted by COVID-19
Axora has announced to launch first international competition to discover new cost-saving digital technology for industrial companies, which can produce rapid benefits within a year
Frontier Resources announces active hydrocarbon system in Namibia
Houston-based international gas exploration company Frontier Resources International has announced active hydrocarbon system in Namibia while providing an operational update on its activities in southern African country
Schlumberger and NOV to accelerate adoption of automated drilling solutions
Schlumberger and NOV have announced a collaboration to accelerate automated drilling solutions adoption by oil and gas operators and drilling contractors
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