Oil major BP is to enter the 'emerging world-class hydrocarbon basin' offshore Senegal and Mauritania, with three exploration wells planned starting in 2017, leading to a new LNG hub, after agreeing a deal with independent Kosmos Energy. BP…
BP has acquired stakes in the Jock Scott and Craster high-temperature high-pressure, North Sea exploration prospects, operated by Statoil and Nexen respectively, with exploration wells planned on each mid-2017. The move comes just days…
Mitra Energy, via its subsidiary Jadestone Energy, has acquired the producing Stag oilfield, offshore Australia, from Quadrant Northwest and Santos Offshore. The move sees the firm become a producer for the first time. The Stag oilfield…
ExxonMobil has joined a joint industry project (JIP) to develop Viper Subsea’s innovative V-IR system. ExxonMobil has joined the V-IR project, which has been established through the Industry Technology Facilitator (ITF), at a crucial…
UK-based fractured basement explorer Hurricane Energy has spudded its 205/21a-7 Lancaster well, west of Shetland. The well is a pilot well, the first in a two-well program, designed to refine the Lancaster resource range, provide a second…
Production from the Prinos and Prinos North oil fields, offshore northeast Greece has exceeded 4000 b/d, a two fold increase compared to the 2000 b/d produced before the start of an ongoing investment program, according to operator Energean Oil & Gas…
V-IR, a new technology system designed to identify the location of electrical faults on subsea installations, is undergoing a shallow water trial at Portishead Quays marina. Established through The Industry Technology Facilitator (ITF)…
Marathon Oil is to reduce its conventional exploration spending to just US$30 million, down from more than $250 million in 2015 and from more than $500 million in 2014. The firm said exploration activity in 2016 would be limited to existing commitments in the Gulf of Mexico and Gabon…
Swedish oil exploration and production firm Lundin Petroleum has dropped its capital spending budget 26% compared to 2016, but still expects a positive year as production at Edvard Grieg ramps up. Lundin's exploration spending will drop 64% compared to 2015…
The second appraisal well, SNE-3, to be drilled on the SNE oil field, 100km offshore Senegal, has been re-entered and will now be drilled to planned total depth. SNE-3 well, located approximately 3km south of the initial SNE-1 discovery well…
BP has reached a major milestone with its Quad 204 redevelopment project 175km west of Shetland. The firm's new floating production, storage and offloading (FPSO) vessel, the Glen Lyon, has left Hyundai Heavy Industries' yard in South Korea and started sea trials…
Norway-based eDrilling launched a simulator for drilling and well engineering and training of all engineering disciplines, to help the industry with efficient and safe well delivery. WellSim Interact represents the ultimate training/engineering…
The numbers are staggering. At US$50/bbl, at least 20% of production in the North Sea is loss making, an industry event was told last week. And that is likely to be a conservative estimate. Faced with what has been called “a perfect storm” by many – high operating costs…
Some 40-50% of savings or efficiency gains need to be made if the industry is going to survive the low oil price regime we are in, an industry event was told in Aberdeen today. 'For us to survive this long-term, to get by on the oil price as it is…
BP's Glen Lyon floating production, storage and offloading vessel (FPSO) is nearly finished and due to sail away to the North Sea next month, BP has said in posts on social media. The firm, which posted a video of the naming ceremony…
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