First oil on EnQuest's Kraken heavy oil field in the UK North Sea is on track for 1H 2017 after the floating production, storage and offloading (FPSO) vessel for the project set out for a deepwater anchorage. Vessel operator Bumi Armada…
Statoil has agreed to acquire Wintershall Norge’s 25% interest in the 11 MMboe recoverable Byrding project on the Norwegian Continental Shelf (NCS). The move will increase Statoil's interest in the project (previously called Astero) from 45% to 70%…
The Oil and Gas Authority (OGA) has attracted 29 applications covering 113 blocks in the latest offshore licensing round which targeted under-explored areas of the UK Continental Shelf (UKCS). The 29th frontier licensing round, launched on 27 July 2016…
GE and Baker Hughes are teaming up to form the “new” Baker Hughes, a company that will be led by current GE Oil & Gas CEO Lorenzo Simonelli and have dual headquarters in Houston and London. Image of Simonelli…
Statoil decided to temporarily suspend the Songa Enabler mobile rig, which was originally scheduled for drilling for the Johan Castberg license. The Songa Enabler, from Songa. The…
EMAS Offshore announced net loss of US$265.3 million for the full year ended 31 August 2016 due to revenue decline in its offshore support vessel (OSV) unit. Net loss for the three months ended 31 August 2016 stood at $98.5 million.The group recorded revenue of $167…
Norwegian giant Statoil and Argentina’s state owned company YPF have entered a cooperation agreement to study the offshore areas of Argentina. Darre, Dodson. Image from YPF. YPF CEO Ricardo Darre…
ExxonMobil took a 38% decline in its Q3 2016 earnings, in addition to reducing its capital and exploration expenses by 45% during the period. Image from Exxon. The supermajor’s earnings for Q3 2016 took a US$1…
Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 MMb/d in 2015. Deepwater production, or production in water of depths greater than 125m, has increased 25% from nearly 7 MMb/d a decade ago…
US supermajor Chevron reported a 35% decline for Q3 2016 when compared to 2015, and an even more drastic drop when looking at its total earnings for the first nine months of the year. Big Foot…
Inpex made a gas find at an exploration well offshore the Shimane and Yamaguchi prefectures in Japan. The Transocean M.G. Hulme Jr., from Inpex. The Transocean M.G. Hulme Jr. semisubmersible…
French oil major Total has made a deepwater oil discovery in the Black Sea, Bulgaria, opening up a new play. The discovery was announced in Total's Q3 results and while unnamed has been identified as the Polshkov-1 well, which the firm…
Oceaneering International has been awarded a two-year extension through January 2019 under the field support vessel services contract for work on Blocks 18 and 31 offshore Angola. Under the contract extension, the Ocean Intervention III vessel will remain chartered through April 2017…
UK explorer Independent Oil and Gas (IOG) has completed the acquisition of 100% of the shares of Oyster Petroleum, a subsidiary of Verus Petroleum. Oyster holds southern North Sea licenses containing the Vulcan East, Vulcan North West and Vulcan South fields…
TGS is expanding its North West Atlantic Margin (NWAAM) multi-client library in the Mauritania, Senegal, Guinea-Bissau and Conarky Basin (MSGBC). It has plans to acquire more than 11,500km of long-offset broadband 2D seismic data as well as magnetic and gravity data…