Statoil posted a loss of US$2.76 billion to its net income that the Norwegian giant attributed to its international operations that consisted of expensed exploration wells, high maintenance activity, and impairment charges. Image of Eldar Sætre…
BP awarded Petrofac a three-year extension to its existing contract in the North Sea. The contract, worth in the region of US$25million, was awarded following a competitive tender process. Under the agreement, Petrofac will continue to…
Norwegian riser analytics firm 4Subsea has won a contract for monitoring flexible risers for Statoil on the Snorre B facility in the Norwegian North Sea. The project involves automated integrity monitor systems for six flexible risers the semisubmersible Snorre B platform…
Investment costs on the massive Johan Sverdrup development have been further reduced to US$11.64 billion, from $14.76 billion, when the plan for development and operation was submitted. Break-even costs on the project have also fallen to below $20/bbl for Phase 1…
Fractured basement reservoir explorer Hurricane Energy says its previous 300 MMbbl estimate for the Lancaster field, west of Shetland is conservative. The firm has completed technical analysis of the Lancaster, Lincoln and Warwick assets…
TechnipFMC awareded Agility Subsea Fabrication (ASF) a contract for the fabrication of one integrated subsea manifold system for the Visund North field in the Norwegian Sea. The scope of work is a copy version of an earlier delivered fast track project…
ABB has signed a project specific agreement for the safety and automation system with Statoil for the Johan Castberg offshore oil field development. Statoil has issued the first call-off from the agreement covering front-end engineering and design (FEED)…
As part of the 21st Century Exploration Road Map initiative (21CXRM), the Oil and Gas Authority (OGA), in collaboration with the 21CXRM Technical Advisory Committee, has awarded two contracts for petroleum system related studies for the East Shetland Platform and South West Approaches areas…
The UK's Oil & Gas Innovation Centre (OGIC) has helped to secure a plasma generator for the University of Aberdeen thanks to a donation from Saudi Aramco. Through its Aberdeen Technology Office, which specializes in upstream research and technology…
Independent NU-Oil raised raise US$2.56 million (£2.05 million) in new shares to help it with its stranded and marginal field strategy with 50% owned MFDevCo (Marginal Field Development Co.). NU-Oil says its next logical stage being the acquisition of a project…
Israel's Delek Group has made a US$524 million offer for UK independent explorer and producer Ithaca Energy. The offer, a 12% premium on Ithaca's last closing price on the Toronto Stock Exchange, would see Delek take over Ithaca's UK North Sea portfolio…
Oil & Gas UK has launched new guidelines, aimed at simplifying subsea developments. Realizing the potential of the North Sea’s “small pool” reserves could be helped by its guidelines, Oil & Gas UK says. The launch follows a call…
Wintershall is to develop the Skarfjell field in the Norwegian North Sea via a subsea tieback to the nearby Engie-operated Gjøa platform. The Gjøa platform. Image from Engie/Jan Inge Haga. Skarfjell is in the northeastern North Sea…
The Industry Technology Facilitator (ITF) is welcoming additional participants to a new joint industry project (JIP) to develop pipeline anchoring and monitoring systems which could mitigate the risk of pipeline walking and cut pipeline anchor installation costs in half…
British subsea companies are expecting to increase overseas activity in the next 12 months, according to a survey conducted by industry body, Subsea UK. Of the 300 member companies surveyed, 27% are predicting increasing exports by 50% or more in 2017…