Petroceltic has opted to exit stakes in Greece and Egypt, following an announcement by the company's board that it has initiated a formal strategtic review of its business and assets due to breaching debt repayment obligations. In the 23 December announcement…
Petrobras concluded two formation tests in the 3-SPS-105 (Carcará Norte) well, confirming the high productivity of the pre-salt carbonate reservoirs. The well is in the area of the Carcará Discovery Evaluation Plan (PAD), 4.6km north of the discovery well (4-SPS-86B)…
Delware-based Dleif Drilling has repossessed the Sertão drillship pursuant to an order issued by the Tribunal de Justiça do Estado de São Paulo Comarca de São Paulo Foro Central Cível 35a Vara Cível on 30 September 2015, the company announced on 24 December…
This year, the offshore oil and gas industry has had to come to terms with the worst downturn for more than a decade. With commodity prices plummeting to an eleven-year low in December, it is time to reflect on the year gone by and consider the outlook for the year to come…
Shell has terminated the contract for the Polar Pioneer, a harsh environment semisubmersible drilling rig, announced rig owner Transocean on 28 December. The rig was famously used this summer in Shell's Arctic campaign in the Chukchi Sea…
Marred by corruption and market turmoil, Petrobras, the operator of key pre-salt projects for Brazil’s oil production over the next five years, is one of many Brazilian oil and gas companies facing a difficult financial future in the short term…
Bisso Marine has announced its acquisition of the derrick/pipelay barge Global Iroquois. The 400ft x 100ft x 30ft laybarge has performed pipelay operations worldwide and will be renamed Bisso Iroquois. The central part of the barge’s…
Mexican national oil company Pemex has awarded a further extension to Fugro's contract to support its exploration drilling activities in the Bay of Campeche. The contract extension is valued at approximately US$20 million and the workscope…
Bad weather has delayed first oil from Premier Oil's Solan project, in the West of Shetland area, until January, the firm announced on 23 December. Premier Oil stated in its operations announcement that further progress has been made…
Det norske oljeselskap has completed its agreement to acquire Premier Oil Norway. The merger, previously announced on 16 November, comprises all Premier Oil plc’s Norwegian assets for a net consideration of US$120 million on a cash free, debt basis…
Total's UK subsidiary (Total E&P UK Ltd) has been fined a record £1.125 million (US$1.67 million) after it admitted failures that led to largest release of gas on record from the Elgin offshore platform in 2012. The fine was passed down by the Sheriff Court in Aberdeen…
Fugro will conduct survey services at a deepwater field development offshore Guyana for ExxonMobil affiliate Esso Exploration and Production Guyana, the geophysical service company announced on 22 December. The contract provides for autonomous…
Sparrows Group, and its cable and pipe-lay solutions (CPLS) division, has been awarded a contract by Oceaneering International, a provider of engineered services and products to the offshore oil and gas industry, to design and manufacture two 500-tonne powered and jack-able under-rollers…
Capital expenditure (Capex) on LNG facilities has risen substantially in recent years, mostly due to growth in the global economy which has been driving demand for natural gas. Douglas-Westwood (DW) forecasts that this trend is set to continue…
Lundin Petroleum has discovered oil at the Rolvsnes exploration well 16/1-25 S in PL338C, in the central North Sea sector of the Norwegian Continental Shelf (NCS), the company confirmed on 22 December. Lundin said the well encountered a 30m gross oil column in porous granitic basement…
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