According to the United States Geological Survey, the area above the Arctic Circle holds approximately 90 billion barrels of undiscovered, technically recoverable oil and an estimated 1,670 trillion cubic feet (Tcf) of technically recoverable natural gas…
The US Bureau of Safety and Environmental Enforcement (BSEE) and the Bureau of Ocean Energy Management (BOEM) released proposed regulations for exploratory drilling activities on the US Arctic Outer Continental Shelf (OCS) concerning exploratory…
FEI introduced its new HeliScan microCT advanced imaging system during the grand opening of its Digital Rock Lab in Houston. Raw tomogram image (no post processing) of Austin Chalk formation highlighting 1…
BP and Maersk Training singed a five-year contract that will offer advanced training programs for BP’s offshore drilling teams to be based in Houston, Texas. Maersk Training facility at Svendborg. From Maersk Training…
Aker Solutions has delivered the key subsea component for the system being developed by Marine Well Containment Company to limit environmental risks from oil and gas production in the US Gulf of Mexico. The Subsea Containment Assembly…
Talisman Energy shareholders approved Spain’s Repsol to take over the Canadian company for an estimated US$8.3 billion. Image from Repsol. In an overwhelming vote of more than 99%…
Mexican officials, including the executive director of the Agencia de Seguridad Energia y Ambiente (ASEA), recently outlined Mexico’s reform efforts and highlighted issues on which the country is working including Transboundary field development…
Mexican state oil company, Petróleos Mexicanos (PEMEX) is being forced to decrease its budget by US$4 billion, representing an 11.5% decrease from last year, in order to maintain financial balance due to falling oil prices. Image of Lozoya…
Ikon Science is launching Ji-Fi (joint impedance and facies inversion), a process that delivers a most accurate and detailed 3D model of complex reservoirs comprising different seismic facies, including shale, brine-filled sand, oil-bearing sand and gas-bearing sand…
Another ruling came down from the Texas Supreme Court involving BP’s Macondo accident. This time, the courts ruled that BP couldn’t claim the estimated US$700 million in insurance carried by Transocean at the time of the spill in 2010. Deepwater…
VAALCO Energy began first production from the Etame 10-H well, part of its six-well development drilling campaign on the Etame Marin block, offshore Gabon. SEENT platform installation. From VAALCO. Etame…
Subsea industry leaders were told not to 'waste a good crisis' today (February 11), with simplified engineering, a calibration of costs and better collaboration key focus areas. A sense of urgency is needed to re-baseline costs, which should have been addressed already years ago…
Rosneft CEO Igor Sechin addressed the International Petroleum (IP) Week forum in London, stating that the oil markets are in a fairly acute crisis. Image from Rosneft. “In the second half of 2014 there was a drop in oil prices…
The Obama administration’s recently released draft proposed offshore oil and gas leasing program slams the door on industry and prevents America from sharing in the economic growth, new jobs and increased energy security that offshore oil and gas activity in new offshore areas would provide…
Ikon Science has inked the first sale of its Joint Impedance and Facies Inversion product (Ji-Fi) to US-based independent operator Murphy Exploration and Production Company (Murphy Oil), two months after the launch of the software in December 2014…