OneSubsea has been awarded a £65 million contract to manufacture subsea trees for BP’s west of Shetland Quad 204 project. The Quad 204 project is a re-development of the Schiehallion and Loyal fields, involving a new floating production…
Marathon Oil is to sell its 10% interest in deepwater Block 32 offshore Angola to Sonangol for about US$590 million. The firm also announced plans to repurchase US$1 billion of its common stock and buy about 4800 acres in the core of its south Texas Eagle Ford position…
Australian exploration firm WHL Energy is to apply for an amendment to its petroleum agreement with Seychelles petroleum industry regulator PetroSeychelles, leading to renewed farm-out talks. The proposed amendment is an extension to agreed work program commitments…
Lundin Petroleum has made an oil discovery on the Ghohta prospect in exploration licence PL492 in the Barents Sea. The well, 7120/1-3, 35km north west of the Snøhvit field, found a 75m oil column beneath a 25m gas/condensate cap in dolomitized and karstified carbonate in a Permian target…
Centrica Energy is to extend its contract for the Hummingbird Spirit until March 2016. The cylindrical FPSO, owned by Teekay, has been operating on the Centrica-operated Chestnut field, north east of Aberdeen, in the central North Sea since 2008…
OMV discovered up to164 million barrels of recoverable oil in the Wisting Central exploration well 7324/8-1, within the Hoop-Maud Basin in the Barents Sea. The company found between 63 million and 164 million barrels of oil in the relatively shallow parts of the Barents Sea…
More people, more wealth, more energy demand—that has been the story of the world’s civilization over the past 250 years, and it is expected to continue. That is one of the messages from BP chief economist Christof Ruehl, who will lead…
I am very excited about the future of the oil & gas industry in the North Sea and internationally. The theme of this year’s SPE Offshore Europe conference is The next 50 years – but 50 years ago no-one could have predicted the way the UK oil & gas industry would develop or how we operate now…
The foundations of the global energy system are shifting and the lives of energy policy makers are not getting any easier. If they didn’t have enough to worry about with securing affordable, sustainable supplies of energy to meet national needs…
As the North Sea continues to attract record investment, the scale of opportunity for the supply chain is growing, says the EIC. The growth is characterised by four key areas of activity: small or marginal developments, led by a growing number of independents…
Centrica Energy has paid tribute to the life of one of its pioneering exploration engineers who first discovered gas in Morecambe Bay Retired Chief Petrophysicist John Bains has died following a distinguished career which saw him discover one of the UK’s largest gas fields…
OMV is to invest in an offshore exploration block west of Madagascar. OMV will acquire a 40% stake in the Grand Prix block from Niko Resources (Niko). OMV will farm-in to the area for the planned drilling of an exploration well. OMV will…
Petroceltic International has launched drilling campaigns offshore Romania and in Kurdistan. The Romanian campaign, in the Black Sea, started with the spudding of the Cobalcescu South exploration well using the GSP Prometeu jack-up drill rig…
Scandinavia’s oil and gas industry, focused on Norway and Denmark, is expecting a resurgence. Espen Erlingsen looks at trends in the sector. The North Sea is characterized by large, producing platforms with declining production. To stop the falling production in the North Sea…
Alaska states Arctic needs Alaska’s Lt. Governor Mead Treadwell stated the case for the state’s needs at the Ice-Diminished Arctic Conference in Washington, D.C. He emphasized the need for safety, security, and economic development in the region…