A 'back-to-fundamentals' strategy is helping seismic firm Polarcus weather the storm, CEO Rod Starr said this morning. The firm's revenues are down 33% in 2Q, compared to the same period last year, at US$91.7 million, but the firm has…
Lundin's Edvard Grieg field is on track for first oil in 4Q this year despite a delay to the topside modules installation earlier this year (see video below). The firm has also drilled its latest successful appraisal well on the 185.8 MMboe gross reserves field…
LR Senergy’s new process uses computational fluid dynamics (CFD) to model a well and near wellbore — and subsequently identify production optimization options and strategies. Jeannie Stell reports. Michael Byrne…
US-based Chevron isn’t expecting first production to come from its Big Foot platform in the Gulf of Mexico until 2018, a delay of about two and a half years that will result in reducing production estimates by up to 22,000 b/d net. The…
In this video, Aibel shows the DolWin beta converter platform leaving Aibel's yard in Haugesund, Norway on its way to be installed in the DolWin wind cluster in the German North Sea. The platform concept is based on experience from the oil and gas sector…
Origin Energy is entering a deal to sell 53% stake of its New Zealand subsidiary Contact Energy for approximately US$3.06 ($4.65 NZD) per share in an attempt to reduce the company’s debt and costs. Image of BassGas…
Contracting activity across the global upstream sector rose 20% in 2Q this year, compared to 1Q, but is still lower than the same period last year, according to the Energy Industries Council's EIC Monitor. The uptick in EPC activity was focused on Brazil and Norway…
North Sea production could finally reverse its 15-year downward trend this year as new fields come onstream and production efficiency measures take hold. According to the Department of Energy and Climate Change provisional 2015 production figures…
After just four years in production, the Peregrino field in the Campos basin offshore Brazil has passed a significant milestone, with 100 MMbo produced since April 2011. The field, jointly owned by Statoil and Chinese Sinochem, achieved the milestone on 2 August…
The US Department of Justice (DOJ) and the European Commission are digging deeper into Halliburton’s US$34 billion proposed acquisition of Baker Hughes by requesting additional information in discrete areas. Image from Baker Hughes…
Ceona, a SURF contractor with heavy subsea construction capabilities, has expanded its West African reach after entering into a strategic partnership with Interoil Angola. The partnership will see Interoil Angola, which is a key player in offshore support vessel management in West Africa…
Norwegian-based Siem Offshore has appointed Idar Hillersøy its new CEO, effective 1 August, replacing current CEO Terje Sørensen, who will stay until a transitional phase is completed. Since April, Idar Hillersøy has been responsible…
Noble Energy recorded a net loss of US$109 million for 2Q 2015, however managed to slightly increase its total sales volume. Image from Noble. 'Although these are challenging times in our industry…
Exceed, a well management and performance improvement specialist, has announced that it has joined forces with eight former members of senior staff from Applied Drilling Technology International (ADTI). ADTI ceased trading in May 2015…
Otto Energy spudded the Hawkeye-1 exploration well offshore Palawan basin in the Philippines on 31 July. The 36in conductor was run to 1906m and the 26in hole subsequently drilled to 2449m. Current operations are to cement the 20in casing string…
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