While the oil and gas industry shows signs of stabilization, the imbalance in value and margins between exploration and production (E&P) companies and the oilfield service segment is significant, according to a report by Deloitte.A major worry…
Singapore based Energy Drilling said it has received a letter of award (LOA) on May 15 from EnQuest to perform drilling services on the Seligi Field offshore Peninsula Malaysia with the tender assist rig (TAD) EDrill-2. The contract calls for two firm wells plus two option wells…
Offshore drilling contractor Seadrill is considering selling non-core assets, including its 15.7% stake in oil service firm Archer , to reduce its liabilities, the firm's outgoing chief financial officer said on Thursday.Seadrill, controlled by Norwegian billionaire John Fredriksen…
UK-based oil and gas exploration and production company Zennor Petroleum said drilling and testing operations have been completed at its operated Finlaggan field development in the UK Central North Sea.The development project is targeting 30mmboe…
Dana Gas said it commenced drilling operations on Monday at its Merak-1 well, offshore Egypt in the hopes of finding world-class natural gas resources in a basin where several giant discoveries have been made in recent years.The location is in 755 meters of water in the North El Arish concession…
New deepwater technologies and service capabilities from drilling fluids provider Newpark aim to help offshore oil and gas customers tackle challenging environments with faster, safer and cleaner results.The company's expanded portfolio of stimulation…
Oslo-listed Shelf Drilling, world's largest contractor of jack-up rigs, has secured a three-year contract offshore the Arabian Peninsula.The company’s recently acquired premium newbuild jackup drilling rig Shelf Drilling Achiever will likely start the program in 4Q 2019…
The Norwegian Petroleum Directorate (NPD) has granted Equinor Energy AS a drilling permit for well 7324/6-1.The well will be drilled from the West Hercules drilling facility, said a press release from NPD.The drilling programme for well 7324/6…
The Argentinian authorities have officially awarded the exploration license of offshore block MLO 124 to an Eni-led consortium.An Eni-led consortium wins an exploration license of offshore block MLO 124 from the authorities, said a press release…
Italian services provider Saipem said it has been awarded new contracts in offshore drilling in Norway and the Middle East totaling over $100 million.One contract was signed with Repsol Norge AS for the drilling of a well for operations in Norway expected to commence in the third quarter of 2019…
The consortium exploring the Kekra-1 well off the coast of Pakistan is ending drilling operations after no reserves of oil and gas were found, a spokesman for Oil and Gas Development Co Ltd, one of the Pakistani partners, said.'The oil exploration well will be plugged and abandoned…
Argentina awarded permits to begin hydrocarbon exploration in 18 areas off the coast of the country in the Malvinas West basin to companies including Exxon Mobil Corp, Total SA, YPF SA and Royal Dutch Shell Plc, the government said on Friday…
The offshore oil and gas industry appears to be in a fragile recovery, according to research consultancy Westwood Global Energy Group.Oil prices are expected to remain between $60/bbl and $80/bbl into the early 2020s before rising, and offshore spending between 2019 and 2023 is projected to hit $1…
Offshore drilling services provider EnscoRowan announced that an arbitration tribunal has awarded it $180 million in damages in its proceedings against South Korean shipbuilder Samsung Heavy Industries (SHI).Further, the company will be claiming…
Russian oil company Lukoil said it has commenced commercial operation of two wells at D41 offshore field in the Baltic Sea. Construction of one of the wells finished on February 6, 2019, the other was completed on May 7, 2019.The field is operated…
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