Offshore Engineer Oil News


Sonangol Gets Ready to Compete

Mar 28, 2019

Angola's national oil company Sonangol has recently taken possession of the first of its two drillships built by a Korean shipyard firm, signaling the start of the implementation of its regeneration program that include investment in deep and ultra deep water drilling and offshore marginal areas…

Lundin Announces Solveig Development Plan

Mar 27, 2019

Lundin Petroleum on Wednesday announced its plans to develop the Solveig oilfield, formerly known as Luno II, offshore Norway, with startup planned in 2021.The Solveig oil discovery in PL359, is located in the Norwegian sector of the North Sea…

Oil Rises 2 Percent

Mar 26, 2019

Oil rose nearly 2 percent on Tuesday as attention centered on geopolitical factors tightening supplies that are leading to falling exports from Venezuela and declining U.S. inventories.Despite concerns about weaker demand due to an economic slowdown…

Brazil, Petrobras Paving Way for Giant Tender

Mar 26, 2019

Brazil's government will announce 'within days' a deal with state-run oil company Petrobras to settle a multi-billion-dollar contract dispute and clear the way to auction billions of barrels of oil off of the Brazilian coast, a minister said on Monday…

Oil Prices Near Flat

Mar 25, 2019

Oil prices were little changed on Monday as investors shrugged off fears of a global economic slowdown and focused on the prospect of tighter supply and lower U.S. crude inventories ahead.Brent crude oil futures climbed 30 cents to $67.33 a barrel by 11:56 a…

US Buyers Turn to Offshore Crude

Mar 25, 2019

U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.Those two companies produce…

OGA Grows Collaboration with Renewables

Mar 22, 2019

The UK Oil & Gas Authority (OGA) has made significant headway on projects aiming to support the energy transition alongside the core role of maximizing economic recovery of UK oil and gas, and it has now taken these efforts a step further.The OGA announced this week it has secured a £900…

Nigeria Aims to Cut National Oil Company Shareholding

Mar 22, 2019

The planned restructuring of Nigeria National Petroleum Corporation (NNPC) joint operating agreements with multinational oil companies could help not only in raising substantial financial gains to support the country's national budget but also…

Johan Sverdrup Field Center Completed

Mar 22, 2019

The two final platform topsides have been installed at the Johan Sverdrup oil field in the North Sea, about 140 kilometers west of Stavanger, Norway, operator Equinor announced Friday, marking a key milestone toward first oil expected in late 2019…

Murphy Oil Sells Malaysian Assets

Mar 21, 2019

Murphy Oil Corp said on Thursday it is exiting Malaysia with the $2.13 billion sale of its oil and gas assets to a Thai company and will use the deal proceeds to pay down debt, buy back shares and fund potential deals in the United States.The buyer…

EnQuest to Focus on Cutting Debt as Profits Jump

Mar 21, 2019

North Sea focused oil producer EnQuest on Thursday committed to continue efforts to cut its $1.77 billion debt this year after reporting a jump in full-year profits on the back of increased production.Chief Executive Amjad Bseisu said, 'We are committed to further reducing our debt…

Spirit Achieves First Oil at Oda Field

Mar 19, 2019

Offshore operator Spirit Energy announced Tuesday that it started oil production on the Oda field in the southern part of the Norwegian sector of the North Sea on March 16, nearly five months ahead of schedule.The Oda field, discovered by Spirit Energy in 2011…

Oil Prices Reach 2019 Highs

Mar 19, 2019

Oil prices rose to new 2019 highs on Tuesday, supported by OPEC supply cuts and falling output from Iran and Venezuela because of U.S. sanctions.Brent crude oil futures were up 16 cents at $67.70 a barrel at 1415 GMT, having earlier risen to a 2019 peak of $68…

Pemex Plans to Triple Drilling this Year

Mar 19, 2019

Mexico's national oil company Pemex plans to triple the number of wells it will drill this year, the company's chief executive said on Monday, in a bid to grow crude output and reverse more than a decade of declining production.The government…

Aoka Mizu FPSO Hooks Up to Lancaster Field

Mar 19, 2019

Hurricane Energy's floating production, storage and offloading (FPSO) vessel has been connected to the group's North Sea Lancaster oilfield, another milestone for the group as it seeks to extract so-called fractured basement oil in Britain.Hurricane…

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Interview: Aaron Smith, President & CEO, OMSA

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