PETRONAS started oil production from the Tanjong Baram field, offshore Sarawak Malaysia. The field, which is estimated to produce an average of 2000 b/d, consists of a platform with production tied into the West Lutong Drilling Platform A (WLDP-A) complex via a flexible production pipeline…
Datum360 has been awarded – and has already delivered – a contract to deploy its Software as a Service (SaaS) solution that will standardize engineering information for the largest oilfield project in the Azerbaijan sector of the Caspian basin…
Restrictions on offshore exploration in Italian waters have been reintroduced, according to UK-based explorer Rockhopper Exploration. The firm says the Italian Parliament has approved its 2016 Budget Law, which reintroduces restrictions…
Despite an ample supply of oil and gas assets on the market due to low oil prices, the overall merger and acquisition (M&A) deal count in the upstream energy sector plunged in 2015 as the weakness and volatility in oil prices made it difficult…
Louisiana-based LLOG Exploration’s Delta House floating production system (FPS) achieved its nameplate oil capacity of 80,000 b/d in the Gulf of Mexico during the last days of 2015. Image of Delta House…
North Sea production rose for the first time in 15 years last year, but, the industry will be extremely challenged to sustain this into 2016 and beyond and job losses are set to continue, industry body Oil & Gas UK warns. According to government data…
Singapore's KrisEnergy has doubled its production of oil and gas in four fields in the Gulf of Thailand, in addition to one onshore gas field in Bangladesh. Together, production stood at 19,935 boe/d as at 1 January 2016. According to KrisEnergy…
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…