Offshore Engineer Oil News


ExxonMobil Eyes Norwegian Exit

Jun 24, 2019

ExxonMobil is considering selling all of the stakes it holds in oil and gas fields off the Norwegian coast, a spokeswoman said.Two years ago the U.S. major – the world's largest oil company – sold its operated assets in the area. But it has retained stakes in more than 20 other fields…

TechnipFMC Wins ConocoPhillips Award

Jun 24, 2019

American multinational energy corporation ConocoPhillips has rewarded services firm TechnipFMC with a Global Supplier Recognition Award.According to a press release from the UK-based oil and gas services provider, the international awards go…

Oilfield Services Pricing Rises

Jun 24, 2019

Oilfield services companies are in bullish mode. They are now able to raise prices for their products and services, after several years of gloom.“Oil and gas investments are on the rise, and so too is the pricing power of service companies. After losing pricing power in 2015 and 2016…

Brent Oil Climbed 5% This Week

Jun 21, 2019

Brent oil rallied above $65 per barrel on Friday and was on track for a 5% gain this week on fears of a U.S. military attack on Iran that would disrupt flows from the Middle East, which provides more than a fifth of the world's oil output.Brent crude was up $0…

Lundin Strikes Oil At Jorvik, Tellus East

Jun 21, 2019

Lundin Petroleum announced that its wholly owned subsidiary Lundin Norway has made two oil and gas discoveries near the Edvard Grieg Field on the Utsira High in the North Sea offshore Norway.The European oil and gas exploration and production…

OGA Publishes UKCS Decommissioning Report

Jun 20, 2019

British industry regulator, Oil & Gas Authority (OGA) will soon publish an industry report detailing the cost of decommissioning on the UK Continental Shelf and the progress being made by industry, government and regulators to reduce costs by more than 30 per cent…

OPEC Output to Remain Flat: Rystad

Jun 19, 2019

OPEC and its allies, including Russia, can maintain their current cuts and not reduce outputs any more because there will be a crude oil demand surge later this year from changing shipping fuel standards worldwide.The OPEC+ countries will not…

Indonesians Seek $140 Mln Over Montara Spill

Jun 18, 2019

Indonesian seaweed farmers were set to seek more than A$200 million ($137 million) from Thailand's PTT Exploration and Production in a trial starting on Monday, to cover damage they say they suffered after Australia's worst oil spill.The class action represents more than 15…

Hurricane Sells First Cargo from Lancaster

Jun 18, 2019

UK based oil and gas company Hurricane Energy said it has sold its first cargo lifted from the Aoka Mizu floating production, storage and offloading unit (FPSO) at its Lancaster field offshore Scotland.The cargo was marketed by BP Oil International…

Chevron: Mature Fields, Maximum Production

Jun 18, 2019

Chevron is combining technology and streamlined work processes to maximize production efficiencies in its mature offshore fields. Continued investments in the fields, reservoir surveillance, analytics and portfolio optimization are some of the…

BP Rig Zigzags in Chase with Greenpeace Ship

Jun 17, 2019

A BP drilling rig heading to an oilfield in the British North Sea has been forced to turn away twice over the past two days as a Greenpeace vessel protesting climate change tries to hamper its progress.The high-sea chase is the latest step in Greenpeace's nine-day effort to stop the 40…

West Africa Offshore Outlook

Jun 17, 2019

The outlook for West Africa’s offshore oil and gas market remains positive despite some hiccups hinged on delay by some countries in the region to align their hydrocarbon regulations to prevailing market trends and the intensifying global competition…

Norwegian Sea Gas Province an Oil Draw

Jun 17, 2019

Equinor announced on Monday that it has discovered oil and gas in separate formations of cut by the same well, and all indications are that a new oil-heavy play in a Norwegian Sea gas province may create a rush to oil if the area’s notoriously splintered geology can be mastered…

Equinor Makes Two Finds in the Norwegian Sea

Jun 17, 2019

Equinor and its partners Ineos E&P and Faroe Petroleum have made an oil and gas discovery in exploration well Snadd Outer Outer/Black Vulture in production licence 159B in the Norwegian Sea. The well had two different reservoir targets; an upper…

Brazil Postpones Santos Basin Bid Round

Jun 13, 2019

Brazil's oil regulator ANP announced on Thursday preliminary rules for a major oil auction in the pre-salt area in the Santos basin and postponed the bidding round to Nov. 6 from Oct. 28.The preliminary rules will be in public consultation until July 3…

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