Subsea 7 expects to save US$550 million through its plans to cut 2500 jobs and 12 vessels from its fleet, the firm said today as the offshore industry continues to suffer from low oil prices. The firm, which had announced its staff and vessel reduction plans in May…
Production from the Gullfaks South (GSO) fast-track project for improved oil recovery in the North Sea started 27 July, increasing output from the Gullfaks area by around 65 MMboe. The project is part of Statoil’s fast-track portfolio…
French oil major Total has followed in Statoil's footsteps this morning, announcing 2Q profits which beat predictions as it increased production and refining. The firm saw new projects start in Angola (CLOV), the North Sea (West Franklin Phase 2) and Russia…
The 2010 Deepwater Horizon spill came back to haunt BP once again in 2Q 2015, as the company reported a massive loss of US$6.3 billion, largely due to the deadly Gulf of Mexico incident. Bob Dudley…
Norway’s Statoil beat profits forecasts thanks to an increase in production and better refining margins but it further reduced its planned capex as oil prices remain low. The firm, which saw net income fall to US$882 million (7.2 billion NOK) from 9…
Junior exploration firm Trapoil has agreed to acquire Jersey Oil and Gas E&P (JOG) for £495,000 and raise about £820,000 to cover its costs. In a reverse takeover style deal, Trapoil will be renamed Jersey Oil and Gas and JOG's founding…
Image: manifolds leaving Rosythe/Babcock A major milestone has been reached in Babcock’s delivery of 73 subsea structures for BP’s Quad 204 offshore redevelopment project, 130km west of Shetland…
CAPE Holland successfully deployed its first commercial application of the new Vibro Lifting Tool (VLT) to install four piles in 90m water depth at the Maersk-operated Culzean field in the UK North Sea. This installation is part…
BMT Cordah, a subsidiary of BMT Group, announced the appointment of Andrew Glass as managing director. Glass will be responsible for leading the business in implementing strategy, direction and policy, ensuring the company continues to…
More than 40 new exploration licenses have been issued in the UK North Sea by the newly formed industry regulator Oil and Gas Authority (OGA). Image from Dolphin Geophysical. The…
Trelleborg’s offshore operation has secured a contract to supply its thermal insulation, corrosion and passive fire protection (PFP) solutions for use on the new Johan Sverdrup oil field in the North Sea, off Norway. Contracted by Kvaerner…
Maersk Drilling has been awarded a contract extension for the jackup rig Mærsk Innovator with ConocoPhillips Norway for work on the Eldfisk field, part of the greater Ekofisk area, offshore Norway. The duration of the contract extension is 16 months…
Equalizer Group has set up a separate service company headed up by general manager Alan Morrison to take forward the development of its award-winning Xtegrity system. As GM of Equalizer Flange Integrity Systems (EFIS) Morrison, who has almost 30 years’ experience in the oil and gas sector…
Australia and UK-based Global Petroleum says it is seeing progress on its bid to gain blocks in the Adriatic Sea, but that the company is making cost reductions reflecting the low oil price and its lack of progress making an acquisition to grow its portfolio…
Global Marine Systems has secured a contract that will see it provide personnel and equipment that will support the delivery of a submarine fiber optic link between platforms on behalf of client, Subsea 7, a provider of subsea engineering and construction…
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