China National Offshore Oil Co. (CNOOC) has begun production from the Huizhou 25-8 oilfield and Xijiang 24-3 oilfield in the South China Sea, known as the Xijiang 24-1 District joint development project. Xijiang 24-3 facility…
Petrobras hit first oil with the floating production and storage offloading unit (FPSO) Cidade de Ilhabela in the Sapinhoá field in the pre-salt Santos basin, offshore Brazil. Cidade de Ilhabela. From BG Group…
Statoil is paying US$350 million to take a “time-out” in its Kwanza exploration drilling program offshore Angola. The Stena Carron. From Stena Drilling. The Norwegian giant decided…
The board of directors for Mexico’s Petroleos Mexicanos (Pemex) approved a corporate restructuring plan that would see the company reorganize into two main units and five smaller subsidiaries. The national oil company said that the plan was…
At the PETEX 2014 conference in London on 18 November, Oil & Gas UK announced the kick-off of two projects aimed at stimulating exploration on the UK Continental Shelf (UKCS) and appealed for further industry participation in the 21st Century…
CNOOC Ltd. encountered a new mid-sized discovery at the Lufeng14-4 structure in the eastern South China Sea. Pearl River Mouth basin activity. From CNOOC. Lufeng14-4 is located in Lufeng…
Norwegian exploration and production firm Noreco is seeking to defer bond and bond interest payments as it continues to face financial pressure over impairments on key production assets. Noreco has said, according to updated reservoir modeling by operator Dong Energy…
Speaking at Tuesday's 2014 Deloitte Oil & Gas Conference in Houston, former Petroleos Mexicanos (Pemex) CEO Dr. Jesus Reyes-Heroles weighed in on the country's historic energy reform. Reyes-Heroles said that he expects the Mexican energy reform to impact the GDP by 4…
Eni and the Turkmen State Agency for Management and Use of Hydrocarbon Resources have signed a memorandum for the possibility of extending Eni's current activities in Turkmenistan to the country's offshore sector in the Caspian Sea. Eni's…
Leading industry executives including BP CEO Bob Dudley cautioned against “over-reacting” to current low oil prices at global industry forum. 'While there has been some speculation that the high cost of unconventional oil production might…
Fosun International subsidiary Transcendent Resources has almost completed its off-market takeover bid of Roc Oil. The Hong Kong-based Fosun announced that it has received acceptances of 92.595% of all existing Roc shares, which translates to 363…
The Consórcio Tomé Ferrostaal (CTF) consortium of Rheinmetall International Engineering, and Brazilian company Tomé Engenharia, delivered two modules for the first of a series of six floating, production, storage and offloading (FPSO) vessels to Brazilian national oil company Petrobras…
Technip is investing more than US$84.7 million and more than four years to modernize its flexible pipe manufacturing plant, Flexi France, in Le Trait, France. This plan focuses on the installation of new-generation machines and site optimization to fit 12m diameter reels…
Mubadala Petroleum began production from two wells at the Manora oil field in the northern Gulf of Thailand. Manora field FSO. From Mubadala. The field is located within the G1/48 concession…
McDermott International delivered its 7,200-ton riser support structure (RSS) tower for the Ichthys project in the Browse basin, about 124mi off Western Australia. Engineered in Singapore and fabricated on Batam Island, Indonesia, the RSS tower is more than 328ft tall…