Mexico's finance ministry said on Monday that it will implement measures to strengthen the finances and boost the production of state oil firm Pemex, specifically by increasing the limit on deductions for costs related to extraction and exploration…
CNOOC announced Tuesday it has made a significant discovery on the Glengorm prospect, located in the Central North Sea of the U.K. continental shelf (UKCS), with recoverable resources estimated at close to 250 million barrels of oil equivalent…
Equinor’s application to prolong the technical lifetime for the Åsgard A facility in the Norwegian Sea has been approved by the Norwegian Petroleum Directorate, extending production up to 12 years longer than was originally planned.The Åsgard A floating production…
An area of rich oilfields in the southern North Sea off Norway appears set to become the next large-scale development to awe and shock observers for being a possible “fast-track” project in a mature area thought to have seen its best days.Norwegian offshore operator…
Icebergs on a collision course with petroleum facilities represent a serious hazard, according to a new study commissioned by the Petroleum Safety Authority Norway.The study performed by ArcIso assessed the consequences of potential collisions…
Faroe Petroleum announced Monday that it new directors have been appointed to lead the company after much of its executive team resigned following a hostile takeover by DNO.Faroe said Bjørn Dale has been appointed as Chairman and Ørjan Gjerde…
McDermott International announced Monday it has secured a contract from LLOG Exploration Company to install the subsea infrastructure to support a two well subsea tieback from the Stonefly development site to the Ram Powell platform approximately…
Vietsovpetro, a Vietnam-Russia oil joint venture, has started crude oil production at the Ca Tam field offshore southern Vietnam, Vietnamese state oil firm PetroVietnam said on Monday.Initial production from Ca Tam, jointly developed by Vietsovpetro…
Offshore geophysical company Polarcus said it has been awarded a contract for a 3D marine seismic acquisition project in West Africa.The project will commence in the first quarter of 2019 with an approximate duration of six weeks.
A team of researchers at Rutgers University has used new forecasting methods to predict offshore sea breeze patterns on the Jersey Shore — data that could be useful for companies hoping to build wind farms off Atlantic City.'The proposed, multimillion…
A cutting ceremony was held Friday for the DES Innovative Drilling System project at Huisman China.The drilling system, to be integrated and installed on a moored drilling semi-submersible constructed at CMHI Haimen, will be used for oil and…
Turkey will begin drilling for resources around Cyprus, Foreign Minister Mevlut Cavusoglu said on Friday, a move that could create tensions with neighboring Cyprus and Greece over ownership of natural resources.Attempts to tap gas and oil in…
Britain's public spending watchdog on Friday questioned a government estimate of 24 billion pounds ($31 billion) as the cost of tax relief to decommission oil and gas infrastructure.As one of the oldest and most mature oil basins, Britain's…
Total E&P Danmark A/S has awarded IKM Testing a contract for the Tyra redevelopment project on the Danish continental shelf. The contract, which includes cleaning and preparation for the removal of existing platforms and associated subsea pipelines…
Wood is using a global yet regional approach to complete offshore projects around the world.Kent McAllister, Wood’s president for capital projects upstream & midstream, called Equinor’s Peregrino 2 project a good example of that kind of global yet regional approach…