In an effort to restructure and transform, Eni’s 2016-2019 strategic plan is aimed for a competitive cost structure, which includes a total of US$7.9 billion (€7 billion) of disposed assets by 2019, in addition to an efficient operating model…
Prosafe’s Safe Boreas harsh environment accommodation vessel has commenced an eight-month contract with Talisman Sinopec Energy in the North Sea. The US$60 million contract comes with options. The Safe Boreas commenced operations…
Siem Offshore has been awarded two contracts for operation in the North Sea, and off Australia. Image of the MV Siem Marlin, from Siem. Contractors GmbH (SOC), a wholly owned…
Well-SENSE Technology’s technology director Dan Purkis has been singled out for his efforts in the offshore oil and gas industry with the award of the Society of Petroleum Engineer’s (SPE) Aberdeen section Significant Contribution accolade…
Norway’s Petroleum Safety Authority (PSA) has begun an investigation of a well control incident on the Visund field on 17 March 2016 that caused Statoil to put a halt to production and evacuate workers in the North Sea. Visund…
UK-based independent has now cut US$425 million off its North Sea Kraken heavy oil development budget as it looks to continue reining in costs. After initially shaving $300 million, or about 10%, off the project's original $3.2 billion costs…
Only one in five oil and gas companies see themselves as highly digitalized today. However, close to half of senior oil and gas professionals (45%) already see solid or high potential for big data and analytics to transform the operating efficiency of the industry in 2016…
Chevron's North Sea Erskine field production has been temporarily suspended during maintenance work to remove a pipeline blockage, according to partner Serica Energy. Erskine. Image from Chevron…
Operator VNG Norge has signed a frame agreement contract for the Pil and Bue (arrow and bow in Norwegian) project owner’s engineering services (OES) with Norwegian engineering firm Reinertsen. The OES contractor will provide necessary…
Frames Flow Control & Safeguarding has completed the flow control and safeguarding equipment for the Petrobras FPSO Cidade de Campos dos Goytacazes MV29. Modec Offshore Production Systems (Singapore), a Modec group company, awarded Frames…
The Petroleum Safety Authority of Norway (PSA) has given orders to Statoil to make improvements at the Gudrun platform in the North Sea, following an investigation of one of the largest hydrocarbon leaks on the Norwegian Continental Shelf that occurred more than a year ago…
North Sea producers have been given a tax break in the UK Government's 2016 Budget, announced today. Amid falling oil prices, high costs and falling production, Chancellor George Osborne had already made some tax reductions and created…
Statoil has exercised an option with Ocean Installer for flexible jumper replacement at the Vigdis field. The option falls under an amendment to the previously awarded SLMP Marine Installation contract. Vigdis is in block 34/7 in the…
Songa Offshore is looking to raise US$150 million in cash to help it deliver the fourth and final Cat D new build rig, the Songa Enabler. The firm has been building the rigs for client Statoil. But, lower than expected utilization rates on the first two delivered units…
UK-based subsea inspection, repair and maintenance (IRM) firm Harkand has been awarded a multi-million pound contract with Maersk Oil to deliver subsea support services. The contract includes a commissioning support campaign for the Flyndre…