Energean opts to cull capex by $155 million

摘要

LONDON-LISTED Energean Oil & Gas has culled $155 million from its planned 2020 capital spend in response to historically low oil prices, while at the same time getting to grips with the effects of the Covid-19 pandemic. Energean late last week said that its spending for this year will amount to $840 million, with further cuts possible depending on how markets evolve. The bulk of this decrease is due to deferral of spending on Eni's Cassiopea gas project off Italy, on the Epsilon asset in Greece and the $35 million Zeus exploration well off Israel.