Offshore staff
CALGARY, Canada – Cenovus Energy is budgeting for offshore production next year in the range 65,000-78,000 boe/d.
This breaks down as 17,000-21,000 b/d of oil in the Atlantic region off eastern Canada, 32,000-36,000 boe/d offshore China, and 16,000-21,000 boe/d off Indonesia.
Guidance reflects lower volumes from the Liwan 3-1 field offshore China, due to the planned expiry of one of the gas sales amendments.
On the plus side, the Suncor-operated Terra Nova field offshore Newfoundland should return to production in early 2023, and the recently onstream MDA/MBH fields off Indonesia should continue to ramp up, supplement by start-up of the MAC field in mid-2023.
Cenovus forecasts offshore operating costs next year of $18-21/boe, $4.50/boe more than in 2022, due to lower production from China.
The company has allocated capex of $600-700 million, mainly for construction of the West White Rose platform-based project off eastern Canada, where first oil is expected in 2026.
12.06.2022
