Global upstream capital spending from 2015 out to 2020 has been reduced by 22% or US$740 billion, however, when cuts to conventional exploration investment are included, the figure increases to just over $1 trillion, Wood Mackenzie said. Image…
Petrofac has been awarded a three-year contract to provide a condition monitoring program for Bumi Armada’s Olombendo floating, production, storage and offloading (FPSO) unit bound for offshore Angola. Currently under conversion in Singapore…
Italian giant Eni and 50:50 partner BP have confirmed a “new significant gas discovery” in the Baltim South West exploration prospect, located in the East Nile Delta offshore Egypt, with plans to drill two new wells in the area. Map…
Saipem has been awarded new drilling contracts and extensions to existing contracts in Portugal, Norway, Morocco, Saudi Arabia, Kazakhstan and Latin America, with a cumulative value of approximately Euro 150 million (US$170.48 million). Eni…
Last year was a challenging year for the floating production systems (FPS) market. The low oil price threatened the commerciality of numerous projects, delay announcements for FPS units under construction arrived regularly and overall only four orders were placed…
The global offshore rig count for May 2016 has fallen 20%, when compared to May 2015, with Latin America seeing the biggest drop by 57%. Image from Saudi Aramco. According to Houston-based Baker Hughes…
Equatorial Guinea’s Ministry of Mines, Industry and Energy (MMIE) has launched the country’s latest licensing round, EG Ronda 2016, that offers 32 blocks offshore West Africa. Image of Minister of Mines…
AccessESP, a leading provider of rigless electric submersible pump (ESP) conveyance solutions, appointed Anwar Assal as Middle East and North Africa region manager. Based in Dubai, Assal will be responsible for developing and enhancing…
Despite depressed oil prices, the Gabonese 11th deepwater licensing round has generated considerable interest from both international oil companies (IOC’s) and newcomers alike, encouraged by the success of exploration in the conjugate margin offshore Brazil…
Technip has been awarded a major contract to develop the Bahr Essalam, Phase II development in the central Mediterranean Sea, offshore Libya. This natural gas field development, which is operated by Mellitah Oil & Gas, a consortium between National Oil Corporation and ENI North Africa…
Laurentino Rangel, a consultant with Poten & Partners, provides an overview of current floating LNG projects around the globe. PFLNG SATU. Photo from Petronas. A floating LNG…
Floating LNG – it’s a big business, taking decades to develop and involving the world’s largest vessels and cutting edge technology. Or is it? Elaine Maslin explains how operator Ophir Energy is taking a different tack off West Africa. Block R…
Aberdeenshire-based ThinJack has entered into a deal with a Middle East oil and gas company for the removal of multiple well Christmas trees on surface platforms in the Gulf of Suez, Egypt. The deal could be ThinJack’s largest ever agreement in the region…
Forum Energy Technologies delivered nine of its largest subsea Pig Launchers and Receivers (PLRs) and laydown heads to a project in North Africa. The PLRs have been deployed as part of a development of nine subsea wells, which vary from 4-24in size…
Ezra subsidiaries EMAS Offshore and EMAS Energy have secured new contract awards and letters of intent amounting to approximately US$40 million, including options, since the start of Q3 FY2016. EMAS Energy’s new contract award will see…
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