Oil firm Vår Energi, majority owned by Italy's Eni, aims to recover 136 million barrels of oil equivalent (boe) from the Balder area off Norway, the company said on Tuesday, as it presented a redevelopment plan for the field.The 19.6 billion crown ($2…
Oil and gas company Aker BP announced on Tuesday it has produced first oil at its Valhall Flank West normally unmanned installation (NUI) in the Norwegian sector of the North Sea.The NOK 5.5 billion ($609.5 million) development aims to produce…
Energy company Total announced Monday it has acquired operating interests in two new offshore licenses with plans to develop a new production hub in the Kwanza Basin, offshore Angola.The French supermajor has signed a sale and purchase agreement…
Guyana has invited companies interested in purchasing the first three deliveries of the government's share of the country's looming oil production to present bids this week, the government said in a statement on Sunday.The government will later…
A new compensation format will help improve efficiency asEquinor said it has awarded framework agreements to five suppliers to provide safety and automation systems for the company’s installations on the Norwegian continental shelf (NCS) and onshore plants in Norway…
BP’s Mad Dog field in the deepwater Gulf of Mexico is a good news story that keeps delivering, and the reservoir management team aims to keep it that way.When discovered in 1998, the field in Green Canyon blocks 825, 826 and 782 was thought to hold 1 billion barrels of oil in place…
Ratings agency S&P Global on Friday downgraded Tullow Oil's long-term credit rating to 'B' from 'B+', days after the Africa-focused company's Chief Executive Officer stepped down and it scrapped its dividend.The London-listed company, which…
Mitsubishi Corporation (MC) and Nippon Yusen Kabushiki Kaisha (NYK) have purchased minority interests in the lease and operation of a newbuild floating production, storage and offloading unity (FPSO) from majority owner SBM Offshore. FPSO Sepetiba…
Norway's Equinor plans to export oil from its upcoming Johan Castberg field directly to the market, ditching the option of building an onshore reloading terminal, it said on Friday.'Johan Castberg partners ... have studied a possible development…
Oilfield services company Schlumberger announced Thursday that its subsea arm has received a contract from Chevron to provide an integrated subsea production and multiphase boosting system for the deepwater Anchor field in the US Gulf of Mexico…
W&T Offshore announced it has acquired a 75% working interest in and operatorship of the Magnolia field in the central region of the deepwater Gulf of Mexico from ConocoPhillips for $20 million. The oil-weighted producing property, located in Garden Banks blocks 783 and 784…
US supermajor Chevron announced Thursday it will move ahead with the high-profile Anchor project in the U.S. Gulf of Mexico, targeting first oil production in 2024.The $5.7 billion deepwater project is the first ultra-high pressure development to reach a final investment decision (FID)…
Aker BP has tapped Aker Solutions and Subsea 7 to deliver and install subsea infrastructure for the second phase of the Ærfugl development offshore Norway.The Aker BP operated Ærfugl development is a subsea project being developed in two phases…
US-based Talos Energy announced it has spent $640 million to acquire a portfolio of producing assets, exploration prospects and acreage in the US Gulf of Mexico.The exploration and production company announced on Tuesday that it has signed definitive…
Engineering firm Wood announced on Wednesday that it has been awarded a contract by Norwegian energy group Equinor to deliver modifications to a pair of offshore platforms in the Norwegian North Sea that will be connected to electric power from floating wind turbines…