Rosneft CEO Igor Sechin addressed the International Petroleum (IP) Week forum in London, stating that the oil markets are in a fairly acute crisis. Image from Rosneft. “In the second half of 2014 there was a drop in oil prices…
China National Offshore Oil Corp. (CNOOC), signed two production sharing contracts (PSCs) with SK Innovation Co., Ltd. (SK) for Blocks 04/20 and 17/03 in the South China Sea. The two blocks are located in the Pearl River Mouth basin. Block…
Weatherford provides a video illustration of managed pressure drilling (MPD) rig integration, and adjustment to the drilling industry’s technology to address operational obstacles of today’s deepwater projects. Weatherford and Petrobras…
With the discovery of deepwater pre-salt reservoirs offshore Brazil, national operator Petrobras began complex drilling operations to uncork the massive hydrocarbon reserves under these salt layers, which acted as seals, preventing the oil and gas from escaping…
Inspection, maintenance and repair (IMR) specialists N-Sea has launched its third diving support daughter craft. The Edradour represents a £1.5 million investment for the company and will be immediately used in its IMR operations across the North Sea…
AGR has secured a contract with LUKOIL Overseas to optimize the Russian firm's drilling performance. The contract covers LUKOIL’s drilling operations in several territories internationally, including Middle East, Black Sea, Africa and Central Asia…
Sterling Energy has agreed to acquire a 40.5% stake in the shallow water Block C-3 production sharing contract offshore Mauritania from Tullow Oil 's Mauritanian subsidiary. Tullow currently holds a 90% stake in the license with Société…
Dana Petroleum has discovered light sweet crude in the Lille John-2 appraisal well and side-track on the Lille John oil field in license 12/06 in the Danish North Sea. The Lille John-2 (LJ-2) appraisal well and side-track confirmed the presence of sweet…
Aquaterra Energy is launching its new riser monitoring system (RMS), analytic equipment that the company says will enhance health and safety, increase asset life extension and deliver cost savings for the industry. Doyle…
Statoil is considering using an unmanned wellhead platform - instead of a subsea development - for a planned extension of the Oseberg field development. Illustration of unmanned wellhead platform. From Statoil…
The Obama administration’s recently released draft proposed offshore oil and gas leasing program slams the door on industry and prevents America from sharing in the economic growth, new jobs and increased energy security that offshore oil and gas activity in new offshore areas would provide…
Norwegian pilot drilling technology firm Badger Explorer has been awarded NOK7.9 million in funding after passing its latest milestones. The Badger Demonstrator Program started in 2012 and has been supported by Statoil, Chevron, ExxonMobil…
Providence Resources has reached agreement with a proposed farm-in on its Barryroe asset, in the Celtic Sea offshore Ireland. But, further details are not being released due to the deal relying on the farm-in partner needing to secure finance…
Netherlands based lifting, drilling and subsea solutions firm Huisman and Brazilian shipping company and shipyard group Grupo CBO have signed a contract for the delivery of four anchor handling and towing winch packages for four new Havyard 843 AHTS vessels…
Statoil and its partners have increased recoverable resource estimates for the Krafla area in the mature Norwegian northern North Sea basin to 140-250 MMboe after a two-well campaign in the area. According to Statoil, the latest appraisal well on the Krafla Main Tarbert discovery…