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US contractor KBR has teamed up with an In the UK, low prices will mean some fields
Indian counterpart to target contract opportu- are shut down earlier, providing a boon to the
nities at refining and petrochemical projects in decommissioning sector in the coming years.
Africa, the Middle East and elsewhere, while But the Oil and Gas Authority (OGA) has
South Africa’s Renergen has partnered with warned that decommissioning spending will
France’s Total to market and distribute LNG take a hit in 2020 as operators cut costs. This
from a liquefaction plant it is building. could have a significant impact on the supply Kazakhstan
chain, risking undermining the UK’s status as a
If you’d like to read more about the key events shaping global leader in decommissioning, the upstream failed to stick
the downstream sector of Africa and the Middle East, regulator warns.
then please click here for NewsBase’s DMEA Monitor. Meanwhile, German power giant RWE has to its OPEC+
said it aims to finalise LNG supply contracts by oil production
Europe: Norway’s new offering the end of this year that will underpin the devel-
Norway has kicked off its next offshore licensing opment of what could be Germany’s first regas- quota in May
round, inviting companies to bid for an extra 36 ification terminal. That will clear the way for an
oil and gas blocks. Current market conditions FID to be taken.
may deter some from submitting offers. But There are several similar schemes currently
Norway’s tax system is generally successful at underway in Germany, but how many are real-
ensuring that investment in exploration contin- ised could hinge on the government shifting its
ues even when prices are low. Meanwhile, those stance in favour of gas-derived hydrogen.
companies that are in possession of discoveries
have extra incentive to push ahead with devel- If you’d like to read more about the key events shaping
opment after Parliament recently approved a tax Europe’s oil and gas sector then please click here for
relief package. NewsBase’s EurOil Monitor.
Companies have until September 22 to bid
for the offered acreage, with authorities planning FSU: OPEC+ pressures Kazakhstan
to award licences in early 2021. Kazakhstan is reportedly being pressed by its
While Norwegian production is due to ramp OPEC+ partners to better comply with agreed
up over the next five years, its current output is oil output quotas. The Central Asian state failed
subdued. Gas extraction fell for the fifth month to stick to its May quota and will have to make
in a row in May, as suppliers held back volumes up the lapse through deeper cuts later this year.
in response to weak prices. Oil production was Kazakhstan faced accusations of disregarding
up last month, but is due to fall in June as govern- its commitments under the previous OPEC+
ment-mandated cuts come into force. deal, which expired in April.

P8 www. NEWSBASE .com Week 25 25•June•2020