French oil firm Total plans to start production at Azerbaijan's Absheron gas field in the Caspian Sea in 2021 after getting positive results from the drilling of a first well, a senior company official told Reuters.The decision to start production at the field…
Russian oil producer Lukoil's capital expenditure may exceed $8 billion next year, the company's Vice President Pavel Zhdanov said on Thursday.The oil producer sees its capex at between 475 billion and 500 billion roubles this year, depending on the global oil deal between OPEC and its allies…
Production at oilfields that contribute to the North Sea Flotta Gold crude grade has restarted following pipeline repairs, a spokesman for the terminal operator said.Output was shut down in mid-May after a subsea valve on the pipeline from the…
Israel's Delek Group moved closer to listing its Ithaca Energy subsidiary on Thursday by buying most of Chevron's British North Sea oil and gas fields for $2 billion.Under pressure from a fall in oil prices to near 14-year lows of $26 a barrel in 2016…
New solutions unveiled Thursday by WFS Technologies aim to tackle the real-time monitoring of offshore risers both above and below surface, on fixed structures including jackets and braces.The new Seatooth Assure Riser Monitor products allow for the measurement of 9-axis motion (vibration…
South Africa continues to make progress in its endeavor to woo increased investment in the country’s highly under-developed offshore oil and gas market as the government’s slow and delayed plan to make cuts on crude oil imports begins to take shape…
The developers of a new offshore wind farm Ørsted U.S. Offshore Wind and Eversource said that their power contract has been approved by Rhode Island regulators.'Rhode Island regulators has approved a 20-year power-purchase agreement with DWW Rev I…
To keep the planet flourishing, 30 percent of Earth needs protection by 2030. Today about eight percent of the ocean and 15 percent of land is protected.'We’re on track to reach a global goal of protecting 10 percent of the ocean and 17 percent of the land by 2020…
Creditors of Singapore based Swiber Holdings Limited (SHL) and its main subsidiary, Swiber Offshore Construction (SOC), on Wednesday voted in favor of a restructuring proposal which will take the offshore services company one step nearer to…
Authorities said on Wednesday they are searching for an oil platform worker who has gone missing in the US Gulf of Mexico.The US Coast Guard said it has deployed two air crews and a cutter boat crew to search for a 54-year-old-man in the water near Renaissance Offshore's Eugene Island 331 platform…
An online prediction tool is being developed to help operators calculate the operational risk of a hydrate blockage in subsea gas condensate systems in real time.Ice-like methane hydrates, which form inside the pipe and can eventually build up to create a blockage…
Olso listed semi-submersible accommodation vessels operator Prosafe said it has signed a contract with Petrobras for the provision of the Safe Eurus semi-submersible vessel for safety and maintenance support offshore Brazil.The three-year firm…
ABS leverages advanced technologies – from smart sensors to artificial intelligence – to help improve inspections and optimize maintenance schemes offshore. Matthew Tremblay, ABS Vice President of Global Offshore Markets explains.
Seismic data processing and licensing company Fairfield Geotechnologies announced Tuesday that Chris Sugahara will succeed Charles 'Chuck' Davison as CEO of the company.Sugahara, a third-generation family member at Fairfield Maxwell, is a Senior Vice President and the Treasurer of the company…
Norway has asked oil firms to apply for exploration blocks in its so-called mature areas licensing round by August 27, with up to 90 blocks on offer, the Ministry of Oil and Energy said.In March, the ministry announced the predefined areas (APA) licensing round for 2019…