In this video, Aker Solutions talks about the vision of the world’s first subsea gas compression system to the Statoil-operated Asgard field offshore Norway. The NOK 19 billion (US$2.34 billion) Åsgard subsea gas compression project…
Oil services giant Schlumberger revealed its revenue took a 33% plunge in 3Q 2015 with revenue hitting almost US$8.5 billion for the period, citing a decline in rig activity and pricing pressure as the reasons. The results are causing the…
Lundin Petroleum has started drilling exploration well 16/1-25 S on the Rolvsnes prospect in PL338C about 6km south of the Edvard Grieg field in the Norwegian sector of the North Sea. Well 16/1-25 S will explore the Rolvsnes area, between the Edvard Grieg field and the Luno II discovery…
Noble Energy has recorded oil and gas shows in the 53/02-01 Humpback exploration well, according to partner Falklands Oil and Gas (FOGL). The 53/02-01 well was drilled to 4718m with the oil and gas shows in the main target horizon and…
In Repsol's 2016-2020 Strategic Plan, unveiled today, the company vowed to cut spending by 38% and divest US$7.1 billion (€6.2 billion) in non-strategic assets. The company said it expected to make half of those divestments in the next two years…
Statoil has, on behalf of the Johan Sverdrup partners, awarded Aibel in Norway the contract for construction of the converter station at Haugsneset and required construction site work for land-based power supply to the field. The contract covers engineering…
The Institute of Marine Engineering Science and Technology (IMarEST) will be offering free student membership to all students (undergraduate and postgraduate), cadets and apprentices for the duration of their studies or training. This…
Petrobras announced a further hydrocarbon discovery at the giant pre-salt Libra field in the Santos basin, offshore Brazil. The Brazilian national said that well 3-BRSA-1310-RJS, in the central portion of the block, identified the presence of hydrocarbons in a low-porosity reservoir…
Genel Energy has announced the retirement of Mehmet Sepil, president of Genel, effective immediately. Sepil founded Genel Energy and was CEO from 2002 until the merger with Vallares PLC in 2011, when he became president. “[Sepil’s]…
Russia’s Lukoil discovered natural gas pay at its deepwater Lira field in the Black Sea, offshore Romania. The Transocean Development Driller II. Image from Lukoil. The Lira-1X…
E.ON is divesting 100% of its Norwegian exploration and production (E&P) business in a US$1.6 billion deal with Germany’s DEA Deutsche Erdoel AG. Image from E.ON. Upon the terms of the contract…
Det norske oljeselskap has entered into an agreement to acquire Svenska Petroleum Exploration for US$75 million on a cash free, debt free basis. Svenska has 15 employees in Norway, of which all will be transferred to Det norske. Svenska holds 13 licenses in Norway…
Jee Ltd, an independent multi-discipline subsea engineering and training firm, has secured a contract extension with BP for the provision of integrity management services and in-line inspection engineering support in the North Sea. The contract involves project coordination…
Oil production from the Organization of the Petroleum Exporting Countries (OPEC) totaled 31.2 MMb/d in September, down 60,000 b/d from August as Saudi Arabia further reined in supply, according to a Platts survey of OPEC and oil industry officials and analysts…
Newbuild flexible lay and construction vessel, Skandi Africa, has joined the industry leading Technip fleet, following the signing of the on-hire agreement in Schiedam, Netherlands on 5 October. The ship, owned by DOF Subsea, has now begun her five-year charter commitment…