Longer step-outs, harsher environments, deeper waters all point to an increasing need for power on the seafloor. Statoil and its partners are working on solutions. Elaine Maslin reports. ABB’s power from shore vision…
Due to the low oil prices heard around the world, Mexico’s Pemex is cutting its budget by a massive US$5.52 billion ($100 billion pesos) to help meets its financial goal by deferring and dropping less-urgent projects. Undersecretary…
Harkand, an inspection, repair, maintenance (IRM) and light construction company, has been chosen to deliver installation work to support Apache with its existing drilling campaign in the Nevis South Field in the North Sea. The project…
National Ocean Industries Association (NOIA) president Randall Luthi, issued the following statement supporting the Atlantic Offshore Energy Caucus’s call for the Department of the Interior's retention of proposed Atlantic lease sale: “I…
Petrobras entered into a US$10 billion financing deal with China Development Bank (CDB) that includes a trade agreement for the Brazilian giant to supply oil to Chinese companies. Image from Petrobras…
Malaysia’s Petronas is pumping the breaks on its Petronas floating LNG 2 (PFLNG 2) project after the company suffered lower revenue and profit last year due to the low oil price environment. Image of the PFLNG 1…
Sixteen new licenses for oil and gas exploration in the Danish sector of the North Sea have been granted under Denmark's 7th Licensing Round, pending parliament approval. The move will see several new foreign operators enter the Danish sector…
Wintershall is due to start drilling its latest exploration well on production license 248 in the North Sea, starting in March. The firm has been given consent to drill two wells, 35/8-6S and 35/8-6A, taking around 85 days, depending on whether a discovery is made…
Tracerco, an oil and gas service company part of Johnson Matthey, has brought its technology to the Australasia region, permanently basing their equipment at their Western Australia facility in Perth. OTC Spotlight on New Technology 2015 winner…
Private equity funded Black Platinum Energy will move ahead with its plans for appraisal and development activities to prove up its shallow gas plays in East Natuna, offshore Indonesia, despite current industry conditions. Plans include drilling one exploration well…
EOG awarded Rowan a contract to utilize the Ralph Coffman jackup, offshore Trinidad. The rig will mobilize from the US Gulf of Mexico and is estimated to commence operations in Q3 2016 for five wells with an estimated duration of one year at a rate of US$135…
The government of Sri Lanka gas signed a joint study agreement (JSA) with French major Total covering two ultra-deep exploration blocks offshore its east coast. The study's objective is to explore the two offshore blocks (JS5 and JS6) for hydrocarbons…
Brazil’s Senate passed a bill that could strip Petrobras of its role as sole operator of the country’s pre-salt fields. Image of José Serra, from Senado Federal Flickr. Yesterday…
Oilfield services giant Halliburton will reduce its workforce by 8%, or 5000 positions, amid the falling oil prices. Image from Halliburton Twitter. The recent cuts add to the approximate 26…
Singapore’s KrisEnergy completed development drilling in the G10/48 and the G11/48 licenses in the Gulf of Thailand. The G10/48 license is located in the Wassana oil field, which comprises 13 producer wells and one water disposal well…