The waiting is over - the shortlist for the 2015 Offshore Achievement Awards has been announced today (12 January 2015). Supported by OE, the annual awards are organized and hosted by the Society of Petroleum Engineers (SPE) Aberdeen…
International oilfield services company, Expro, is to provide integrated well testing and fluid sampling services for Statoil Petroleum on the Norwegian Continental Shelf (NCS). Starting on 1 January 2015, the initial four-year contract is worth US$200 million…
Egypt's government has signed six new agreements for oil and gas exploration in the Gulf of Suez and the Western Desert, the Oil Ministry announced 9 January. The agreements were with Shell, Italian firm ENI, BP and Canada's Trans Globe…
Depressed oil prices are going to make 2015 a challenging year as the “industry adjusts to the new realities,” rig, engineering and fabrication firm Lamprell has said. The Dubai-based company had an “exceptionally strong” 2014, with…
Ithaca Energy is looking to more than double its production in late 2015 when its North Sea Greater Stella Area development is due to come on stream. The firm averaged 12,300 boe/d in 2014, according to a 2015 outlook published this morning…
Petrobras encountered a light oil and gas discovery in the Sergipe basin, offshore Brazil. Map from Petrobras. The ultra deepwater discovery was made at the 9-SES-188D/9-BRSA-1280D-SES well…
The Norwegian Petroleum Directorate (NPD) is processing Statoil’s plan for development and operation (PDO) for the Rutil discovery in the Gullfaks Rimfaksdalen area in the North Sea. Image of Gullfaks…
Van Oord took delivery of Damen’s offshore carrier (DOC) 8500 cable laying vessel, the Nexus. The Nexus. From Damen. The Nexus is a 126-m vessel that will be used for the installation…
As oil prices move ever lower, Wood Mackenzie assessed at what price the operating cash flow from producing oil fields turns negative. Negative operating cash flow can be an immediate brake on production. While Wood Mackenzie does not think this floor will necessarily be triggered…
Singapore-based COSCO (Nantong) Shipyard Co. is to scrap the Octabuoy project after failling to find a buyer for the unit. COSCO (Nantong) Shipyard was contracted to build the Octabuoy unit for ATP Oil & Gas' Cheviot field in the UK North Sea…
Magma Global and Maritime Developments (MDL) entered into a partnership to develop a well intervention solution for the offshore oil and gas market. Image from MDL. This partnership…
In 2013, Brazil produced 2MMb/d of crude oil and nearly 1Tcf of gross natural gas. Within these figures, the share of production from presalt resources found under thick layers of salt thousands of feet below the ocean's surface remains small but continues to increase…
Mexican national oil company, Petróleos Mexicanos (Pemex) took delivery of its first of two KFELS B Class jackup rigs from Singapore’s Keppel FELS. The Yunuen jackup. From Keppel. The…
The fall in oil prices to their lowest in five years could mean current proposals for new North Sea tax allowances do not go far enough, oil and gas industry body Oil & Gas UK has said. The comments followed a new report from the Scottish…
Predicting oil price movements is as risky as exploring for oil itself. The average price for crude fell 10.3% from the start of 2014 to the date of the Scottish independence referendum on September 18. It fluctuated over this period – but few…