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More projects affected by double blow of coronavirus and oil price
While African exploration had been recovering from the last slump, 2020 could see no more than six or seven high-impact exploration wells drilled continent-wide. Tullow Oil has declared force majeure on its development in Kenya and Kosmos Energy has tweaked its exploration strategy to reduce risk and costs. In Namibia, the Venus well has been put off to later in the year, while BW Energy has written down the full value of the much-postponed Kudu development. Vantage Drilling has seen itsTopaz Driller rig terminated early by Vaalco Energy in Gabon, while Eni has declared force majeure on its contract for the Sapphire Driller in Republic of Congo.
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