Norwegian accommodation vessel provider Prosafe and oil firm Statoil have agreed to re-phase the Mariner project on the UK Continental Shelf of the North Sea from 2016 into 2017, and extend the firm hire duration from eight months to 13 months…
Abdelghani Henni reports on how French major Total is keeping the ABK field offshore Abu Dhabi up and running past its initial life span, and beyond, serving as a pilot project for other major fields in the country. ABK…
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…
Marred by corruption and market turmoil, Petrobras, the operator of key pre-salt projects for Brazil’s oil production over the next five years, is one of many Brazilian oil and gas companies facing a difficult financial future in the short term…
Lundin Petroleum has discovered oil at the Rolvsnes exploration well 16/1-25 S in PL338C, in the central North Sea sector of the Norwegian Continental Shelf (NCS), the company confirmed on 22 December. Lundin said the well encountered a 30m gross oil column in porous granitic basement…
Shipping and offshore specialist law firm Wikborg Rein says current low oil prices could mean there are bargains to be had for investors in the offshore sector who follow recommended procedures for assessing and acquiring distressed companies…
Petrobras hit a new oil discovery in the Espírito Santo Basin offshore Brazil, according to partner Inpex. Map of the BM-ES-23 concession. From Inpex. The discovery contains oil…
Ratings agency Moody's has painted a bleak picture for 2016 for the upstream oil and gas industry. The firm predicts a prolonged period of oversupply will keep oil prices lower for longer and continue to pressure issuers in the oil and gas industry in 2016…
Rosneft produced 2 million tonne of oil since the production start at the Northern Tip of Chayvo field in 2014. Image from Rosneft. The Northern Tip of Chayvo field is located in the Sakhalin shelf area…
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…
Germany's Wintershall has made a minor oil discovery on the Syrah exploration well in the Norwegian sector of the North Sea. The operation, in production license 248, included wild cat well 35/11-18, targeting Middle Jurassic rocks in the Brent group…
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…
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…