Offshore Engineer Oil News


Chevron Cleared to Stay in Venezuela

Jul 26, 2019

The Trump administration said on Friday it has renewed Chevron Corp's license to drill for oil and gas in Venezuela despite sanctions, signaling it sees value in having the U.S. oil producer operate in a country on the verge of economic and political collapse…

Petrobras Reports Higher Q2 Production

Jul 26, 2019

Brazilian state-run oil firm Petroleo Brasileiro SA posted a modest production boost in the second quarter, but failed to live up to market expectations, sending shares down over 2% in morning trade.In an early Friday securities filing, Petrobras…

Indonesia Offers Four New Offshore Blocks

Jul 26, 2019

Indonesia's energy ministry offered four new oil and gas blocks including Cendrawasih VIII block off Papua shore which is estimated to have 3.8 trillion cubic feet of gas and 1 billion barrels of oil resources, deputy energy minister Arcandra Tahar told reporters on Friday…

Deep Blue Heads for Brazil

Jul 24, 2019

TechnipFMC’s flagship deepwater pipelay and construction vessel is embarking on a large-scale subsea project laying pipeline on the Equinor-operated Peregrino Phase 2 Project in the Campos Basin offshore Brazil.According to TechnipFMC, Deep…

Lukoil Hits Milestone at Caspian Offshore

Jul 24, 2019

Russian oil company Lukoil has exceeded 15 million metric tons of cumulative output from its Vladimir Filanovsky field in the Caspian Sea.Moscow-headquartered multinational energy corporation said that full-scale commercial operation of the project started in the fall of 2016…

Aker BP Finds Oil in Liatårnet Wildcat

Jul 23, 2019

Aker BP has made an oil discovery in an area nicknamed NOAKA near the Alvheim field in the central part of the North Sea, the Norwegian Petroleum Directorate confirmed on Tuesday.Aker BP, operator of production licence 442, had announced the discovery earlier in July…

Tanzania State Oil Company Chief Reinstated

Jul 23, 2019

The former head of Tanzania's state company oil is being reinstated by Tanzanian President John Magufuli, after the executive was suspended in 2016 over claims of abuse of office, the presidency said.James Mataragio, who was the managing director…

Storm Cut 73% of US Offshore Production

Jul 14, 2019

Tropical Storm Barry has cut 73%, or 1.38 million barrels per day (bpd), of crude oil production in the U.S.-regulated areas of the Gulf of Mexico, the U.S. Bureau of Safety and Environmental Enforcement (BSEE) said on Sunday.Natural gas output from the northern Gulf of Mexico is down 62%…

Norway's June Production Lags Forecast

Jul 12, 2019

Norway's oil production fell 28.2% year-on-year in June to 1.067 million barrels per day, lagging the official forecast for the month by 10.2%, Norway's Petroleum Directorate (NPD) said on Friday.Including condensate and natural gas liquids (NGL)…

Aker BP Makes Oil Discovery off Norway

Jul 12, 2019

Norwegian oil firm Aker BP has made an oil discovery off Norway which could strengthen its hand in negotiations with sometimes partner Equinor on how to develop fields.Aker BP, formed from a merger of BP's Norwegian oil assets and the Det norske oil firm controlled by billionaire Kjell-Inge Roekke…

Deepwater Leads in Discovered Oil and Gas

Jul 12, 2019

Half of the 6.7 billion barrels of oil equivalent (boe) new conventional oil and gas discoveries in the first half of 2019 were deepwater finds, signalling a return for explorers to high-risk frontier deepwater plays, said analyst Rystad Energy…

Hurricane Raises 2020 Production Guidance

Jul 11, 2019

Hurricane Energy's shares recorded their biggest daily rise since 2017 on Thursday, jumping more than 13% after the group upped its production guidance for 2020 on positive results from its so-called fractured basement reservoirs in Britain…

Oil at Six-week High

Jul 11, 2019

Oil prices hit a six-week high on Thursday as oil rigs in the Gulf of Mexico were evacuated ahead of a storm, while an incident with a British tanker in the Middle East highlighted tensions in the region.Brent crude futures were up 32 cents at $67…

Capricorn Norge Drills Dry Well

Jul 11, 2019

Norwegean oil and gas exploration and production company Capricorn Norge AS has completed the drilling of wildcat well 6508/1-3. The well was a dry hole.According to Norwegian Petroleum Directorate (NPD), the well was drilled about 6 kilometers…

Near Miss on the Terra Nova FPSO

Jul 10, 2019

Canada's offshore safety regulator said it is monitoring Suncor Energy’s continued investigation into a potentially fatal incident on board the Terra Nova floating production, storage and offloading unit (FPSO) that occurred on June 24.The incident…

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