Statoil's newly appointed CEO and president Eldar Sætre says Statoil is 'well prepared' to tackle the large uncertainty facing the oil and gas industry, amid five-year low oil prices. Sætre (pictured), who has been acting CEO and president of Statoil since October…
CNOOC began production at its 100% owned and operated Jinzhou 9-3, offshore China. Image from CNOOC. The Jinzhou 9-3 oilfield is located in the North Liaodong Bay in Bohai in 6.5-10…
Golder Associates’ Ken Been explains the best approach to geotechnical engineering and pipeline construction when facing scours and pits in the Arctic ice. Fig. 1: Ice scouring. Over the coming decades…
Orderbooks reflect reined-in spending based on conservative near-term oil price estimates. ABS’ James Graf sets out the detail. MODU new construction projects through 4Q/14. Source: ABS. Weak demand…
Over supply of oil, diminishing returns and an increasing rig fleet will challenge rig operators in 2015. Rystad Energy’s Joachim Bjørni and Oddmund Føre look for a ray of light. Graphs from Rystad. Throughout 2014…
There can be little doubt – either for us as energy professionals in the sector, or anyone who has picked up a paper over the last few months – that the UK oil and gas industry is facing a serious challenge. Mike Tholen…
Inpex Norge awarded First Geo a contract to provide exploration services on the Norwegian continental shelf (NCS). A geomodel. From First Geo. Under the contract, First Geo will provide…
The Bureau of Ocean Energy Management (BOEM) released the draft supplemental environmental impact statement (EIS) for the US Gulf of Mexico. Gulf of Mexico map. From BOEM. The…
Shell has its sights set for Arctic exploration this year by spending US$1 billion, after being absent since 2012. Ben Van Beurden. From Shell. The supermajor announced in its 4Q 2014…
Africa focused small-cap player Azonto Petroleum is continuing its work on the offshore Ivory Coast Gazelle field, despite difficulties in the market. A field development plan, submitted by operator and 87% equity holder Vioco, which is 35% owned by Azonto…
Austria's OMV says it is to delay projects, setting back its production targets, due to the 'rapid fall' in oil prices. CEO Gerhard Roiss said the fall in Brent oil prices by 58% since a high in mid-2014 represented a 'seismic shift' for the industry…
Noble Energy is in talks with officials in Cyprus over how to develop a gas field discovered in 2011, reports Reuters. The agency quotes Cypriot energy minister Yiorgos Lakkotrypis as saying discussions had also almost concluded with…
Karoon Gas Australia completed the down-dip side-track drilling of the Kangaroo-2 well, offshore Brazil. The Olinda Star. From Karoon. Kangaroo-2 is located in exploration Block S-M-1165…
A team of US and UK supermajors led by Chevron are exploring and appraising 24 jointly-help offshore leases in the northwest portion of Keathley Canyon in the deepwater Gulf of Mexico. Image from BP. The deal between Chevron…
The US Department of the Interior today (Tuesday) announced details of a proposed oil and gas leasing program for 2017-2022. US Secretary of the Interior Sally Jewell (pictured, right, with President Obama) and Bureau of Ocean Energy…