Owners of significant floating assets are continuing to feel the pinch in the offshore market as rates sink to “unsustainable levels.” Floating production specialist BW Offshore says it is cutting its onshore staff by 35%, while Norwegian…
Marathon Oil is to reduce its conventional exploration spending to just US$30 million, down from more than $250 million in 2015 and from more than $500 million in 2014. The firm said exploration activity in 2016 would be limited to existing commitments in the Gulf of Mexico and Gabon…
Norway-based NorSea Group's Stordbase is to be used to assemble the world's first floating wind farm, the Hywind Scotland Pilot Park under a US$5.8-8.1 million (NOK 50-70 million) contract. The contract, which enters starts 1 March 2016…
Romanian gas producer Romgaz and its partners are to drop their EX29 Est Rapsodia Block in the Black Sea, offshore Romania, following exploration results. Romgaz, with partners Lukoil Overseas Atash and PanAtlantic Petroleum, had signed two concession agreements…
UK-based exploration minnow Cluff Natural Resources (CLNR) has entered into a further memorandum of understanding (MOU) with Halliburton. The move will see the pair to collaborate on the development of CLNR's southern UK North Sea gas…
Wood Group PSN says it is to reduce rates paid to about a third of its UK-based contractors by about 9% 'in response to continuing cost and efficiency challenges affecting the UK North Sea oil and gas sector.' Wood Group, which already…
PGS is to start a 8200sq km survey of the Nordland Ridge area of the Norwegian Sea, starting May and to be completed during 2016. The survey is a prefunded GeoStreamer project and extends the existing PGS library coverage of the Halten Terrace to provide a regional dataset of over 29…
Don Wallette, Jr., currently ConocoPhillips executive vice president, commercial, business development and corporate planning, has been named executive vice president, finance, commercial and chief financial officer (CFO), after the announcement of the retirement of Jeff Sheets…
Rolls-Royce signed an US$11.5 million (£8 million) contract to supply the mooring system for the world’s largest semisubmersible crane vessel (SSCV), Sleipnir. An illustration of the Sleipnir vessel…
UK-based Centrica plans to reduce its workforce by 3000 by year-end, and a total of 6000 by 2020 in a move that will save the company more than US$1.1 billion (£750 million). Image of Iain Conn…
Oil production in the US Gulf of Mexico (GoM) will reach record high levels in 2017, due to some 14 projects starting up during 2015-17, despite low oil prices. Anadarko's Heidelberg. Image from Anadarko…
Noble Energy is implementing an aggressive plan to decrease its capital program by 50% in 2016, as the company moves forward with several development projects planned for the year that include Israel and the Gulf of Mexico. Image from Noble…
Petrobras has discovered 'good quality oil' in a new well in the giant Libra field, in the pre-salt Santos basin, offshore Brazil. Map of the Libra field, from Petrobras. Well 3-BRSA-1305A-RJS…
MacGregor signed a contract to supply its Pusnes technology to the COSCO Shipyard Group in China. Upon the terms of the agreement, MacGregor will design, manufacture, deliver and commission complete Pusnes loading systems for two cargo transfer vessels (CTVs)…
Irish independent Providence Resources is eying a potential risk sharing alliance with a drilling firm and contractors to help it move forward on its Barryroe oil field offshore Ireland. Providence, 80% owner and operator of the Barryroe field…
Subscribe
