The decision by 52% of the voters in the EU referendum last week to vote to leave the EU has had far-reaching impact across the globe. The oil and gas sector, bruised from nearly two years of low oil prices, is bracing itself for the fall out…
A floating storage unit built to serve the Mariner heavy oil field in the UK North Sea has set sail from its yard in Korea. The Mariner B vessel was built at the Samsung yard in South Korea. Before reaching the North Sea the FSU will sail some 15…
Gazprom Neft has signed a memorandum of cooperation with IBM at this year’s St Petersburg International Economic Forum covering the use of information technologies in exploration and production (E&P). The agreement outlines the key areas of technical collaboration…
SeaBird Exploration signed an agreement to supply one 2D vessel for an upcoming survey in North West Europe during this coming summer season. The project is due to commence early Q3 2016 and will run for approximately 2 months.
Aberdeen-based oil and gas technology firm LUX Assure has secured a £2.4 million second round investment, which will allow the company to accelerate strategic growth, internationalization plans, and further key technology developments. The funding was provided by Chevron Technology Ventures…
DONG Energy has decided to build the German offshore wind farm Borkum Riffgrund 2, which is expected to be fully commissioned in 1H 2019. With this decision, DONG Energy will reach 6.7GW of installed offshore wind capacity, exceeding the 2020 target of 6…
The British public has spoken - as have the oil, money and stock markets. With a narrow margin, the leave campaign in the UK's referendum to stay in or leave the EU won by 52% to 48%, ending the UK's 43-long membership in the EU. Shares on the FTSE 250 index dropped 11…
If cost reduction in the industry goes far enough, it could start to unlock new projects, with net positive effect for the industry, the industry’s leading economist said last night (23 June) in Aberdeen. But, both Professor Alex Kemp…
An investigation of a well control incident at Visund A that halted production at the field and evacuated workers in March has been completed by Norway’s Petroleum Safety Authority (PSA), revealing several regulation breaches at the Statoil-operated North Sea platform…
Subsea 7 and Petrobras entered into an agreement to substitute a pipelay support vessel (PLSV) working on a day-rate contract for the Brazilian giant, offshore Brazil. The deal will substitute the PLSV Seven Mar for the chartered PLSV Normand Seven in the existing Normand Seven contract…
Maersk Group has appointed Søren Skou as its new chief executive officer, effective 1 July 2016. Image of Skou, from Maersk. Skou will replace Nils S. Andersen, who will leave the Maersk Group…
Freeport-McMoRan (FCX) paid out a US$540 million settlement to Noble Corp. after canceling two rig contracts operating in the Gulf of Mexico in May. The Noble Sam Croft. Image from Noble Corp…
UK-based small cap player Nordic has Energy has announced it is looking to wind up the company. The firm has instructed accountants Turpin Barker Armstrong to lead the insolvency proceedings. The Company listed on the ISDX Growth…
Shell has been cleared to resume drilling offshore Canada following a review to its procedures after an incident saw a 2km riser section drop to the seafloor. Shell was drilling the Cheshire L-97 well, in about 2000m water depth, in the Shelburne basin…
Wood Group Mustang has been chosen by the Leviathan partners to provide the front-end engineering and design (FEED) work for the Leviathan project’s production platform in a US$120 million deal. Image from Wood Group Mustang Twitter…