Chinese oil company CNOOC said Monday that the Jinzhou 25-1 oilfield 6/11 area in Liaodong Bay, China, had started production.Jinzhou 25-1 oilfield 6/11 area is located in central Liaodong Bay in Bohai with average water depth of 22.5 meters…
Chinese national oil company CNOOC has produced the first oil from the Liuhua 16-2 oilfield / 20-2 oilfield joint development project.Liuhua 16-2 oilfield / 20-2 oilfield joint development project is located in the eastern South China Sea. The…
Chinese oil company CNOOC has started production from its Qinhuangdao 33-1S oil field phase I in the Bohai Bay.Qinhuangdao 33-1S is a shallow water oilfield, located in central and western Bohai with an average water depth of 21 meters. 'The…
China's CNOOC said Thursday that Penglai 19-3 oilfield area 4 adjustment/Penglai 19-9 oilfield phase II project had started production.The Penglai 19-3/19-9 oilfields are located in Bohai Bay with an average water depth of approximately 28 meters…
BP said on Tuesday that oil output at its projects in Azerbaijan declined to 524,000 barrels per day (bpd) in the first quarter of 2020 from 571,000 bpd a year earlier.Associated gas output at the Azeri-Chirag-Guneshli (ACG) oilfields was 7…
Brazil's oil industry has requested 29 oilfields be mothballed so far, including 16 offshore and 13 onshore, with a total production of 65,000 barrels per day, as the sector struggles with lower demand amid the coronavirus outbreak, local regulator ANP said…
Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending…
More than 200 oilfield services companies might be forced to declare bankruptcy - most of them in Norway and the UK - due to the effects of the Covid-19 pandemic and its effect on oil prices.This is according to Norway-based energy intelligence firm Rystad Energy…
Services firm Saipem is considering a merger with rival Subsea 7 in an effort to weather the prolonged industry downturn, Bloomberg reported, citing unnamed sources said to have knowledge of the matter.Commenting on unconfirmed reports, Audun Martinsen…
Russia's Lukoil said on Friday it had completed the construction of the first well as part of a third development stage of the V. Filanovsky oilfield in the Caspian Sea.The well was drilled with a floating jack up rig Neptune, mounted on a riser block platform…
Premier Oilfield Group has appointed Patrick “Paddy” Keenan as CEO, beginning October 28, 2019, the oilfield services company announced on Tuesday.Keenan brings to the role experience in both the US and international oil and gas industries,…
Qatar Petroleum has assumed operatorship of the Idd el-Shargi North Dome and South Dome offshore oilfields, the company said in a statement.Development and production sharing agreements with Occidental Petroleum of Qatar Ltd. for both oilfields expired on Oct…
Lower oil prices will push the global oilfield services (OFS) sector into a recession in 2020 after three successive years of growth, according to Rystad Energy.In a new sector outlook update, Audun Martinsen, head of oilfield services research at Rystad Energy…
Aker Solutions' new integrated approach to subsea field design aims to accelerate field development and maximize performance through the life of the field.With the firm’s newly introduced intelligent subsea approach, which combines modular,…
Brazil's state-controlled oil company Petrobras sold stakes in a set of oilfields known as Polo Macau, located in the country's Potiguar Basin, to SPE 3R Petroleum for $191.1 million, the company said on Friday.Petrobras, or Petróleo Brasileiro SA…