Rystad Energy’s new report claims that there is hope in the oilfield service industry despite the current downturn, with an expected US$30 billion growth to be seen in the next two years. Closed and abandoned service markets as well as…
Forum Energy Technologies (FET), a subsea technology provider, has unveiled a deepwater test facility and received industry accreditation for the calibration laboratory at its new European Operational Centre in Aberdeen. The primary purpose…
NEL has completed the latest upgrade phase of its wet gas test facility, in response to increasing industry demand. The upgraded facility has been designed to more accurately simulate the increased flowrates experienced during production and processing…
Unmanned aerial vehicle (UAV) inspection and survey company Cyberhawk Innovations entered into an agreement with UK-based SSE last month for Cyberhawk to carry out close visual inspections of more than 600 blades using UAVs. Image…
Fugro has been awarded a three-year contract for integrity management support (IMS) and intervention works for Det norske in the Norwegian sector of the North Sea. The offshore scope covers subsea assets at Alvheim, Vilje, Volund and Bøyla field developments…
Faroe Petroleum hit an oil discovery at its Brasse exploration well in the Norwegian North Sea, with plans for a sidetrack to follow. The Transocean Arctic, from Transocean. The company encountered oil at the Brasse well 31/7-1…
The UK oil and gas industry may be gripped by a downturn but a lot of positivity has emerged from the two-day conference organized by trade body Oil & Gas UK, which concluded today (15 June) in Aberdeen. Almost 500 delegates attended the “UKCS: Open for Business” themed event…
Incidents relating to the installation and operation of high voltage subsea cables are the costliest cause of financial losses in the global offshore wind industry and led to insurance claims totaling more than US$67 million (€60 million) in 2015…
MPs and Cabinet Ministers will be urged to do everything they can to protect the US$13 billion (£9billion subsea) industry at a Parliamentary Reception this week, according to Subsea UK. The industry body is leading a delegation of high…
Global upstream capital spending from 2015 out to 2020 has been reduced by 22% or US$740 billion, however, when cuts to conventional exploration investment are included, the figure increases to just over $1 trillion, Wood Mackenzie said. Image…
New business models able to handle ongoing volatility in the oil price are set to be the future of the North Sea industry, according to the CEO of Det Norkse. Karl Johnny Hersvik is set to lead a new company, Aker BP, which has been described as a “super independent…
Netherlands Enterprise Agency has awarded Fugro has been awarded a geotechnical site investigation survey contract for the Hollandse Kust (zuid) Wind Farm Zone, in the Netherlands. This follows previous contracts awarded earlier this…
Mads Andersen will take over as the new president and CEO of Stavanger-based oil services firm Aibel, effective 1 January 2017. Jan Skogseth, Aibel's current president and CEO, since 2008, plans to retire. He will hold an advisory role in the company until spring 2017…
Offshore wind is headed toward new highs with the North Sea region serving as the backbone of the global market, says Douglas-Westwood’s Celia Hayes. Image from iStock. The offshore…
Polarcus has received a letter of intent for an XArray project in the Norwegian-Barents Sea for an undisclosed client. The survey is due to commence in August 2016, after required authorization has been obtained, and will run for approximately four weeks…