Norwegian exploration and production firm Noreco is seeking to defer bond and bond interest payments as it continues to face financial pressure over impairments on key production assets. Noreco has said, according to updated reservoir modeling by operator Dong Energy…
The Russian National Committee for United Nations Environment Programme (UNEPCOM) endorsed Rosneft and the Russian Geographical Society's initiative to continue its Arctic research program. This program will help define the principles of economic activity regulations in the region…
Speaking at Tuesday's 2014 Deloitte Oil & Gas Conference in Houston, former Petroleos Mexicanos (Pemex) CEO Dr. Jesus Reyes-Heroles weighed in on the country's historic energy reform. Reyes-Heroles said that he expects the Mexican energy reform to impact the GDP by 4…
Eni and the Turkmen State Agency for Management and Use of Hydrocarbon Resources have signed a memorandum for the possibility of extending Eni's current activities in Turkmenistan to the country's offshore sector in the Caspian Sea. Eni's…
BP awarded a US$200 million contract to Bredero Shaw's pipe coating division for the Shah Deniz Stage 2 development project. The contract is scheduled to be executed at the Caspian Pipe Coatings (CPC) plant in Baku, Azerbaijan. The contract…
Lundin Petroleum’s Kitabu-1 exploration well, in Blocks SB307/SB30, offshore Sabah, Malaysia, came up dry, the Swedish independent announced on 18 November. Lundin said that the primary reservoir interval contained poor quality siltstone…
EPC firm Wison Offshore & Marine selected AVEVA Marine software for the engineering, design and construction of its offshore Floating Storage Regasification Unit (FSRU) projects. An Wenxin, Senior Vice President of Wison Offshore & Marine…
Eni and Sonangol have agreed to up a joint team aimed at studying the potential of the non-associated gas present in the Lower Congo basin. Under the agreement, Eni and Sonangol will set up a joint team aimed at studying the potential…
Eco (Atlantic) Oil & Gas has started a 1000km 2D seismic survey on the Guy Block in the Walvis Basin, offshore Namibia. Eco Atlantic is using PGS Geophysical to perform the Survey, which is expected to be completed by the end of the month…
South Stream Transport, the company charged with overseeing the planning, construction and operation of the South Stream pipeline is ready to start construction on the most complicated part of the project, Gazprom says. Once built, South…
Gulf Marine Services has been awarded a contract extension for one of its Large Class vessels in the southern North Sea. The extension is for a self-propelled, self-elevating, support vessel, that has been chartered to an international oil company (IOC) since Q3 2012…
The industry is going to face more challenges than ever over the next 30 years as it strives to meet global oil and gas demand from ever harder to reach and extract resources, industry bosses say. Amin Nasser…
Leading industry executives including BP CEO Bob Dudley cautioned against “over-reacting” to current low oil prices at global industry forum. 'While there has been some speculation that the high cost of unconventional oil production might…
Fosun International subsidiary Transcendent Resources has almost completed its off-market takeover bid of Roc Oil. The Hong Kong-based Fosun announced that it has received acceptances of 92.595% of all existing Roc shares, which translates to 363…
CalEnergy’s Pryderi-1 well off Australia has come up dry and will be plugged and abandoned, according to joint venture partner IPB Petroleum. The Stena Clyde. From Stena Drilling. The…