Statoil has cut its average project cost per barrel from US$70/bbl to around $40/bbl, but the work has just started and the changes need to be permanent, even if prices increase, CEO Eldar Sætre said this morning. Speaking at the Subsea Valley conference in Oslo…
Oil company cuts could be going too far, leading to another period of high cost inflation as the oil price returns and capacity is found to be lacking, a Norwegian industry analyst has warned. Speaking ahead of the Subsea Valley conference…
FMC Technologies will reduce its Norwegian operations by 700 jobs in coming months, after taking a number of efforts to adjust to the low oil price environment, the company told OE. Image from FMC…
Zennor Petroleum’s subsidiary Zennor Pathway has spudded an appraisal well at its Finlaggan discovery in the Central North Sea. Well 21/5c-7, spudded on 5 April, is being drilled with Transocean Sedco 704 semisubmersible drilling rig…
BP has renewed its contract with Asco for its Norwegian operations. The supply services contract will be delivered across Norway, providing support in Tananger and Farsund, as well as further services in the northerly base of Sandnessjøen…
As part of President Obama’s continued commitment to safe and responsible domestic energy production, Bureau of Ocean Energy Management (BOEM) director Abigail Ross Hopper has announced the bureau will offer approximately 23.5 million acres…
Freeport-McMoRan (FCX) subsidiary Freeport-McMoRan Oil & Gas (FM O&G) has shaken up its workforce with a reorganization that sees four top executives depart the company in a move that will reduce costs, streamline functions, and enhance capital allocation…
Honeywell has appointed Darius Adamczyk to the company’s newly created role of president and chief operating officer (COO) effective immediately, reporting to chairman and CEO Dave Cote. Image of Adamczyk…
Kvaerner's executive vice president and CFO, Eiliv Gjesdal, has decided to step down from the role as CFO as of 6 April 2016. He will work with special tasks until his notice period ends 30 June 2016. 'Gjesdal started as CFO in Kvaerner…
Hoover Container Solutions appointed Scott Meints as the vice president of service operations. In addition, Adolfo Aguilera is joining Hoover’s executive team as vice president of manufacturing. Both will report directly to Johan Wramsby…
Bibby Offshore (BOUK), a subsea services provider to the oil and gas industry, has secured a multimillion dollar contract with a North Sea Operator, to deliver decommissioning operations in the Northern North Sea East Shetland Basin. The agreement…
The board of directors of AVIC International Maritime Holdings (AVIC Maritime) has announced that it has entered into a contract, as a co-seller, for four RoPax vessels with two plus two options with Stena RoRo, a subsidiary of Swedish ship owner…
Tullow Oil awarded subsea engineering and training firm Jee a contract to investigate the most appropriate options for decommissioning their Thames area assets in the North Sea. Awarded in February 2016, the contract relates to the decommissioning of the Horne…
Tullow Oil is set to start up production at its Jubilee field offshore Ghana later this week, after declaring force majeure on two cargoes last month. Image of the Kwame Nkrumah, from Tullow. In a statement from the company…
The future of oil and gas technology looks increasingly automated, digital and smarter according to a new technology outlook report published by DNV GL. Image from DNV GL. The…
Subscribe
