The recent downturn in oil prices is expected to have minimal direct impact on Gulf of Mexico (GOM) crude oil production through 2016 because of the long timelines associated with GOM projects, according to a new report by the US Energy Information Administration (EIA)…
Petrobras's executive board approved a two-year (2015/2016), US$13.7 billion divestment plan. The plan includes exploration & production assets in Brazil and abroad (30%), as well as assets in the downstream (30%), and gas and energy (40%) segments…
McDermott International has won two contacts for EPCI work, one for Qatar Petroleum in the North Field Alpha gas development, and a second from Saudi Aramco for the Marjan field, offshore Saudi Arabia. The North Field Alpha project calls for a new jacket…
Floating production systems are on the hard edge of asset integrity management, says Jonathan Boutrot. The business case for having an asset integrity management (AIM) system in place for offshore assets is getting more and more cogent every day…
Greg Hale takes a look at subsea electronic modules. “Doom and gloom,” and “scaling back” are phrases not heard in the industry in the last five years. But, now there is an opportunity to wring more productivity and profitability out of existing assets…
Repsol’s Director for Exploration and Production Technology Santiago Quesada discusses the company’s partnership with IBM aimed at developing cognitive technologies for better decision-making. As demand for oil and gas increases and oil plays mature…
Will subsea tech join fracking slowdown? There may be too much momentum. Bruce Nichols reports. Testing for Train 2 of the Asgard subsea compression system was completed in December at Aker Solutions’ dockside yard in Egersund…
Most of the Mexican side of the Gulf of Mexico remains unexplored. Dan McConnell explores the geotechnical knowns and unknowns in the basin. Acquiring geotechnical data for platform foundation design in Mexico’s Bay of Campeche Image from Fugro…
It is widely accepted that the UK Continental Shelf (UKCS) is a high cost petroleum province by world standards. The collapse in oil prices from over US$100/bbl to less than $50 can thus be expected to have a substantial effect on activity levels…
The Mariner heavy oil discovery on the East Shetland Platform in UK block 9/11 will be one of the largest offshore developments on the UK Continental Shelf in more than a decade. Meg Chesshyre checks on its progress. Chris…
Statoil and its Peregrino field partner Sinochem submitted its US$3.5 billion development plan for the Peregrino Phase II project to Brazilian regulator, the National Agency of Petroleum, Natural Gas and Biofuels, at the end of January, the Norwegian explorer announced on 27 February…
The UK’s new offshore oil and gas regulator is to require the top 20 North Sea operators by volume to present stewardship plans by April, as part of a string of actions to turnaround the industry published yesterday (25 February). Stewardship…
Santos and INPEX were awarded two exploration permits offshore Western Australia. Image from INPEX. Blocks WA-513-P and WA-514-P are located about 500km north-northeast of Broome and cover areas of 335sq km and 415sq km…
Saipem awarded Schneider Electric a contract to design, fabricate and pre-commission two E-House modules, fully-integrated technical buildings, to support the Total E&P Angola-operated deep offshore Kaombo FPSO project. Located 260km offshore Luanda in water depths ranging from 1400-1950 m…
Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, entered into an agreement to farm-out a 30% working interest in PL338C to Lime Petroleum Norway. PL338C contains the Gemini prospect, which is currently being drilled with the Island Innovator rig…