The numbers are staggering. At US$50/bbl, at least 20% of production in the North Sea is loss making, an industry event was told last week. And that is likely to be a conservative estimate. Faced with what has been called “a perfect storm” by many – high operating costs…
Aberdeen-based sand control technology firm has secured a contract with Statoil following a successful trial of its downhole well completions technology. Darcy has signed a framework agreement with Statoil to supply its unique hydraulic…
Petronas has laid the keel of its second floating LNG vessel, the Petronas Floating LNG2, in Geoje Island, South Korea. JGC Group and Samsung Heavy Industries (SHI), the consortium leading the engineering, procurement, construction, installation and commissioning of PFLNG2…
Lundin Petroleum has started drilling the Selada-1 exploration well in Block PM308A, offshore Malaysia. The well will target hydrocarbons in Miocene aged sands and is located 14km to the south of the Bertam field, operated by Lundin…
The Norwegian Petroleum Directorate has granted start-up consents for the Edvard Grieg oil pipeline and the Utsira High gas pipeline. These transport solutions will become part of the development of the Edvard Grieg and Ivar Aasen fields on the Utsira High in the North Sea…
Statoil has received an expert calculation of revised tract participations for the Agbami field, offshore Nigeria. Assuming implementation, this calculation will result in a reduction of 5.17% in Statoil’s equity interest in the Chevron-operated field from 20…
US services giant Halliburton is offering five tranches of senior notes for a total of US$7.5 billion, to use the cash to fund a portion of the pending $34.6 billion Baker Hughes mega merger. Image from Baker Hughes…
With under four weeks until entries close for the 2016 Offshore Achievement Awards (OAA), Robert Gordon University students have been set a challenge to design the trophy which will be presented to winners at the 30th awards ceremony. Image: Last year's trophy…
Faroe Petroleum has completed an up to US$20 million deal to acquire Roc Oil (GB Holdings), which holds 12.5006% interest in the Blane field and a 12.00% interest in the Enoch field, both in the UK North Sea. Roc Oil GB is a subsidiary of Roc Oil Company…
Dutch engineering and fabrication firm Heerema Fabrication Group (HFG) has opened its new Heerema Innovation Center, where it plans to develop next-generation welding robots, and use latest gaming and data processing technology. The center is cloes to HFG's Zwijndrecht headquarters…
Noble Corp. is the latest major oil and gas company to be linked to the Petróleo Brasileiro’s (Petrobras) Lava Jato bribery and corruption scandal, the offshore driller revealed in a regulatory filing to the US Securities and Exchange Commission…
Brazil’s Petróleo Brasileiro (Petrobras) has appointed Segen Farid Estefen as the chairman of the board for its subsidiary company Petrobras Distribuidora, until 31 January 2016. Estefen is replacing Clovis Torres Jr., who announced his resignation earlier this week…
A letter of award has been announced and signed by Electromagnetic Geoservices (EMGS), worth approximately US$15.3 million, with a repeat customer in India. The survey, which is located off the eastern coast of India, is expected to start in early January 2016 by the vessel BOA Thalassa…
Italy’s Eni encountered a new oil and condensate discovery in the Marine XII block, offshore Congo. Image from Eni. The Nkala Marine prospect is located in Marine XII block, about…
Cairn Energy spudded the first appraisal well on the SNE oil field located 100km offshore Senegal; according to joint venture partner Far Ltd. Map from Far. The SNE-2 well will…
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