A new set of standards for the design and operation of tidal turbines has been published based on the outputs of a project in the Energy Technologies Institute’s (ETI) marine technology program. The new certification standards will apply…
BP has reported a 91% drop in Q4 2015 earnings, revealing the impact of the lowest oil prices in more than a decade on the business, and says oil prices look set to 'continue to be challenging in the near term.' The firm's full year underlying profit was a loss of $5…
Songa Offshore is planning to cut up to 200 staff and shut its offices in Aberdeen and South Korea, the firm announced yesterday. The company said the US$30 million-saving move, which will see support functions centralized out of Norway…
The Scottish government has pledged £24.5 million in support for the North Sea oil and gas industry in Scotland. The funding, unveiled by First Minister Nicola Sturgeon, comprising £12.5 million to help oil and gas firms research and…
Europe's biggest subsea-focused industry event kicks off tomorrow. Of course the oil price and low levels of activity in the industry will be on everyone's minds. OE, principal media sponsor for Subsea Expo, spoke to Neil Gordon, CEO of conference organizer Subsea UK…
Falling production efficiency has become a thorn in the side of the UK North Sea oil and gas industry. Is the industry getting to grips with its efficiency issues and, some ask, is it really that bad? Elaine Maslin reports. According…
Despite slower than anticipated demand for well intervention services, service firms are ploughing ahead with new designs and solutions to help operators get more out of their wells. Elaine Maslin highlights some of the activity in the market…
Norway’s E Plug was been named 2015 winner of the Intervention & Coiled Tubing Association (ICoTA) European Chapter’s Innovation Award, presented during the SPE ICoTA European Well Intervention Conference in Aberdeen late 2015. Scott Mitchell…
To create meaningful cost reduction – or value creation – the industry will need to be more aligned in its understanding of what exactly terms like standardization and fit-for-purpose mean. Meg Chesshyre reports. The…
BP is headlining a reorganization as upstream chief executive Lamar McKay takes on a new role of deputy group chief executive, with Bernard Looney, the company’s upstream chief operating officer, production taking his place. McKay…
Aker Solutions' maintenance, modifications and operations (MMO) business in Norway secured two contracts for North Sea fields operated by ConocoPhillips. The company received a framework agreement for a fixed period of five years to become…
The Petroleum Safety Authority (PSA) Norway has completed its investigation into a hydrocarbon leak on the Statoil-operated Gudrun facility in the North Sea on 18 February 2015. The PSA’s investigation has identified serious breaches to the regulations…
ROVOP, a remotely operated vehicle (ROV) service provider, and WFS Technologies, a wireless instrumentation and control solutions developer, have announced a collaboration effort to reduce certain operating costs by up to 80% and extend asset life by years…
GE entered into a US$1 billion sourcing program, signing a series of agreements with its Russian strategic partners at the 17th GE Oil & Gas Annual Meeting in Florence. Expanding the scope of their 2013 strategic partnership, GE and Rosneft…
US tech firm Blueshift has been working with the UK’s Oil & Gas Innovation Centre (OGIC) and the University of Strathclyde, Scotland, to support the development of a polymer aerogel blanket. Aerogels are “solid materials” composed of 99…