Super major Shell is curtailing its spending by more than US$15 billion over the next three years and has futher options to reduce spending, the supermajor announced this morning, citing the dramatic, nearly 60% drop in oil prices over the past six months…
BG Group has signed a six-year global alliance with KBR to provide technical support, services (in both the pre-FEED and FEED stages), and project management expertise across BG Group’s global upstream portfolio. Under the agreement, which has options to extend up to 10 years…
Russia's Gazprom has approved a new route for a gas pipeline across the Black Sea to Turkey. Gazprom had been due to build, in partnership with Eni, Wintershall and EDF, the South Stream pipeline, from Russia, across the North Sea, to Bulgaria and on to Italy…
Maersk Drilling has taken delivery of its third ultra harsh environment jackup, XLE-3, from the Keppel FELS shipyard in Singapore, ahead of schedule. The rig (pictured) will start her mobilisation to the Norwegian North Sea late February…
Europe’s second largest steel producer Tata Steel has marked the supply of one million tonnes of pipeline for oil and gas projects in the North Sea. Henrik Adam, chief commercial officer of Tata Steel in Europe, says the firm has completed…
Dubai-based Gulf Marine Services has won a new long-term contract award for one of its Large Class vessels. The vessel will start a four-year charter (three years firm with a one-year option) at the end of Q1 2015 on completion of…
Danish engineering house Ramboll Oil & Gas is to perform detailed design work for the two jackets for Maersk Oil's ultra-high-pressure, high-temperature (HPHT) UK North Sea Culzean field. The jackets are for a central processing facility…
US$75-80 barrel oil price will be the new norm, industry commentators predicted Tuesday morning. But how long it will take to get there is the greatest uncertainty. Elaine Maslin reports. Uncertainty around how long oil prices will remain around US$50/bbl and…
DONG Energy has awarded offshore substation transportation and installation contracts for the Burbo Bank Extension, Race Bank and Walney Extension to Seaway Heavy Lifting (SHL). The three contracts cover the transportation and installation of in total up to five platforms…
COSCO (Dalian) Shipyard awarded Huisman a contract for the delivery of four customized 400mt rope luffing knuckle boom cranes and two 100mt knuckle boom cranes onboard four new subsea support vessels (SSVs) for Maersk Supply Service. MT 6027…
Germany’s Wintershall picked up eight new exploration licenses from the Norwegian Ministry of Petroleum and Energy in the current licensing round APA 2014. Image from Wintershall. Wintershall…
Following the split of Aker Solutions, sub-surface consultancy Aker Geo will now operate under the First Geo brand. In 2015, Aker Solutions ASA split into two separate companies: Aker Solutions ASA and new oil services investment company Akastor ASA…
Statoil is bringing the Transocean Spitsbergen semisubmersible back to the waters to drill a wildcat well in the Snedrid Nord prospect, after gaining consent from the Petroleum Safety Authority Norway (PSA). Transocean Spitsbergen…
North Sea oil independent EnQuest is expecting its 2015 production to be at least 10% above previous expectations, and announced a 40% cut in capital spending, easing concerns the firm could breach debt covenants. EnQuest said 2014 production was up 17% compared to 2013…
Oil and gas operators will need to cut costs by US$170 billion, or 37%, to maintain net debt at 2014 levels at a Brent oil price of $60/barrel, analysts Wood Mackenzie said this morning (23 January). Wood Mackenzie also says large-scale…