This year, the offshore oil and gas industry has had to come to terms with the worst downturn for more than a decade. With commodity prices plummeting to an eleven-year low in December, it is time to reflect on the year gone by and consider the outlook for the year to come…
Total's UK subsidiary (Total E&P UK Ltd) has been fined a record £1.125 million (US$1.67 million) after it admitted failures that led to largest release of gas on record from the Elgin offshore platform in 2012. The fine was passed down by the Sheriff Court in Aberdeen…
Capital expenditure (Capex) on LNG facilities has risen substantially in recent years, mostly due to growth in the global economy which has been driving demand for natural gas. Douglas-Westwood (DW) forecasts that this trend is set to continue…
Noble Energy received the green light from the Israeli government on 17 December, to move forward with the development of Leviathan and the Tamar expansion, despite a last attempt from the Israeli Forum for the Protection of the Coastline that petitioned the High Court to not approve the plan…
Saipem has been awarded new engineering and construction offshore contracts cumulatively valued at US$196 million (€180 million). The most significant initiatives are: Johan Sverdrup Export Pipelines Project Statoil, on behalf of the Johan Sverdrup partners…
The Delek Group and its Leviathan partners are setting the record straight by refuting recent media reports regarding Leviathan’s development field plan. Map of Leviathan. From Noble Energy. Media…
KrisEnergy, an independent upstream oil and gas company, announces that it has completed drilling of the Mustika-1 exploration well in the Sakti production sharing contract (PSC) in the East Java Sea. Image from KrisEnergy…
Shell has cleared the final regulatory approval for its US$70 billion acquisition of BG Group, after receiving 'unconditional merger clearance' from the Chinese Ministry of Commerce (MOFCOM). This approval from China is the final regulatory…
Statoil has received consent for modifications at Kristin and Tyrihans in connection with tie-in of the Maria field. Kristin is a gas condensate field at Haltenbanken in the Norwegian Sea. Statoil is the operator of the field, which has…
Otto Energy has announced that it has entered into an agreement with Byron Energy for the staged farm-in for participating interests in to up to three lease areas held by Byron in the Louisiana Gulf of Mexico (GOM) area. The transaction…
North West Shelf (NWS) operator Woodside Petroleum said project participants have approved the Greater Western Flank Phase 2 (GWF-2) development off the northwest coast of Australia. GWF-2 will develop 1.6 Tcf of raw gas from the combined Keast…
Statoil has, on behalf of the Johan Sverdrup partners, awarded contracts for the linepipe, coating and pipe installation of the Johan Sverdrup export pipelines. The total contract value is estimated at slightly less than US$288 million (NOK 2…
Amplus Energy Services, a floating production solutions firm headquartered in Aberdeen’s Grandholm area, has struck a deal with Technip in the UK to work together to develop untapped oil reserves in marginal fields in the North Sea. With…
BP Egypt has completed its acquisition of 22.75% in the North Alexandria Concession and 2.75% in the West Mediterranean Deep Water Concession from Hamburg-based DEA Deutsche Erdoel. The acquisition will bring BP’s working interest in both concessions of the West Nile Delta project to 82…
The Norwegian Ministry of Petroleum and Energy has announced that 26 companies have bid for acreage in the 23rd licensing round. The round offers nearly 60 frontier exploration blocks with around half in the exciting new Arctic province of the Norwegian Southeast Barents Sea…