Norwest Energy has achieved the full farm-out of its 160 MMbbl Xanadu TP/15 prospect, off Western Australia, signing a binding term-sheet with 3C Group. 3C subsidiary, 3C Group IC Ltd., will contribute 40% of the well costs to earn a 30% interest in TP/15…
A new, US$224 million (£180 million) center aimed at making Aberdeen a center of oil and gas technology has been launched today. The launch of The Oil & Gas Technology Centre (OGTC), which is to include a number of thematic 'solutions centers…
Transocean is to scrap two idle rigs and has idled three others as contracts have been dropped, while others have been extended. The floaters M.G. Hulme, Jr. and GSF Rig 140 were classified as held for sale. Transocean says these rigs will be recycled…
Large upstream projects are more often delivered by a group of partners rather than a single 100% owner. This spreads project risks and can also make it possible to finance megaprojects, which could be beyond the capacity of any single player…
Innova, a specialist subsea engineering and technology company based in Norway, has selected acoustic and inertial navigation technology from Sonardyne International, for two new in-field resident ROVs (remotely operated vehicles) being built in the country…
French giant Total will launch 10 upstream projects in the next 18 months, as the company targets a US$3.5 billion costs savings for the year. Image of Total CEO Pouyanné, from Total. In 2017…
Saudi Aramco and Baker Hughes (BHI) have completed the first installation of the TransCoil rigless-deployed electrical submersible pumping (ESP) system, which is designed to help operators bring wells on production faster and lower the costs associated with installing and replacing ESPs…
The Norwegian Petroleum Directorate has granted Lundin Norway a drilling permit for well 16/1-27. Well 16/1-27 will be drilled from the Island Innovator drilling facility, at position 58°50’18.11” north and 2°11’56.83” east, in a southwesterly…
Polarcus has received a letter of award for a 4D marine seismic acquisition project offshore West Africa. The project is due to start in Q2 2017 and will run for approximately one month.
Polarcus has signed a heads of agreement with Russia's SCF GEO AS (Sovcomflot) to charter a vessel on bareboat terms with delivery scheduled for March 2017, a deal that comes with an option for Sovcomflot to buy the vessel. Image of the Polarcus Nadia…
BHP Billiton's board has approved to spend US$2.2 billion for its share of BP's Mad Dog Phase 2 development costs in the US Gulf of Mexico. Image of Mad Dog, from BP. The project is one of the largest…
A new US$6.29 million (£5 million) fund has been launched to provide opportunities for the supply chain in Scotland to benefit from the decommissioning of North Sea infrastructure. The Decommissioning Challenge Fund (DCF), launched by the Scottish government…
Statoil's Dudgeon Offshore Wind Farm has starting producing its first electricity to the UK National Grid, off southeast England. Some 67 foundations, plus cables and the offshore substation, on the wind park were installed last year…
Marine energy developer Minesto is planning to expand the commercial roll-out of its Deep Green tidal energy technology in Holyhead Deep, North Wales, increasing its installed tidal energy array capacity to 80MW. The Swedish firm has developed a technology…
Actemium Angola and Actemium Oil & Gas Maintenance have been awarded an offshore multidisciplinary maintenance contract by Total E&P Angola. Under the multi-year agreement, Actemium will continue the offshore maintenance of the Girassol…
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