American upstream oil company founded and based in Dallas Kosmos Energy made an offshore oil discovery in Equatorial Guinea, Reuters reported quoting the Ministry of Mines and Hydrocarbons.The S-5 well was drilled at a total depth of 4,400 meters…
The oil and gas industry is witnessing wide-scale deployment of virtual reality (VR) technology across its value chain, according to GlobalData.According to the report, ‘Virtual Reality in Oil & Gas’, VR is finding its way into upstream, midstream…
Heavyweight oilfield service providers like Saipem and Baker Hughes are moving past just oil and gas projects and embracing more renewable energy projects going forward.In 2014, non-upstream oil and gas activities accounted for 22% of revenues among service suppliers…
GlobalData revealed that a total of 38 oil and gas discoveries were made globally in Q3 2019.South America and Europe led globally with the highest number of oil and gas discoveries during the third quarter (Q3) of 2019, with eight discoveries each during the quarter…
The global oil and gas industry can save as much as $100 billion through automation and digitalization in the 2020s, energy research firm Rystad Energy said.'As much as $100 billion can be eliminated from E&P upstream budgets through automation and digitalization initiatives in the 2020s…
Norwegian oil and gas firm Equinor Energy AS, operator of production licences 796 and 796 B, has has drilled a duster 8 kms northeast of the Mikkel field in the Norwegian Sea and 183 kms north of Kristiansund.The primary exploration target for…
The global offshore oil and gas seismic equipment and acquisitions solutions market stood at around $660 million in 2018 and is forecast to grow at a CAGR of 5% to cross $890 million by 2024.According to a report by ResearchAndMarkets, the growth…
Half of the 6.7 billion barrels of oil equivalent (boe) new conventional oil and gas discoveries in the first half of 2019 were deepwater finds, signalling a return for explorers to high-risk frontier deepwater plays, said analyst Rystad Energy…
Norwegean oil and gas exploration and production company Capricorn Norge AS has completed the drilling of wildcat well 6508/1-3. The well was a dry hole.According to Norwegian Petroleum Directorate (NPD), the well was drilled about 6 kilometers…
Danish provider of offshore service vessels A1 Offshore Solutions ApS and lifting and offshore equipment specialist KenzFigee have signed a cooperation agreement to offer clients in the offshore oil, gas and wind industry a cost-efficient and safe Walk-to-Work vessel solution…
Oilfield services companies are in bullish mode. They are now able to raise prices for their products and services, after several years of gloom.“Oil and gas investments are on the rise, and so too is the pricing power of service companies. After losing pricing power in 2015 and 2016…
British industry regulator, Oil & Gas Authority (OGA) will soon publish an industry report detailing the cost of decommissioning on the UK Continental Shelf and the progress being made by industry, government and regulators to reduce costs by more than 30 per cent…
OPEC and its allies, including Russia, can maintain their current cuts and not reduce outputs any more because there will be a crude oil demand surge later this year from changing shipping fuel standards worldwide.The OPEC+ countries will not…
The rising domestic crude oil production in the United States has created a need for more pipeline capacity, revealed the US Energy Information Administration (EIA).EIA recently launched a new liquids pipeline projects database that tracks more than 200 crude oil…
On top of production declines in Iran and Venezuela, ongoing OPEC cuts, Urals contamination outages in Russia and maintenance in Kazakhstan, North Sea production is also struggling, Rystad Energy said.'Currently we see unplanned outages at Oseberg and Flotta with combined impact of 160…
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