Declining reserves from mature fields worldwide, the ongoing demand for oil, and retreating sea ice have brought a flurry of exploration activity to the Arctic. The US Geological Survey estimates undiscovered Arctic petroleum resources of 90 billion bbls of oil and 1…
Houston’s Cobalt International Energy, Inc. reported that its Lontra #1 presalt discovery well in Block 20, offshore Angola, found more oil and gas than estimated. Drill stem test placed Lontra’s well production at a stabilized flow rate of 2…
Strategic decision-making in the boardroom is vital for those operating on the new frontiers, a new report says. Elaine Maslin reports. “A single event can transform the fortunes of an entire industry,” warns a recent report on frontier hydrocarbon exploration…
Renowned energy expert Prof. Michael J. Economides suffered a fatal heart attack this past weekend on an international flight from Madrid to Chile. He was 64. Economides was a professor at the University of Houston’s Cullen College of…
GMC Inc.’s Clyde Crochet discusses a self-installing tower, currently deployed off Peru, which offers a new substructure solution compared to conventional jackets/piles. The buoyant tower concept represents an innovative bridging design…
Dana Petroleum’s Marcus Richards is stepping down as group chief executive after three years. Graham Scotton, chief operating officer will become the company’s acting group chief executive immediately. Richards joined the company following…
Watch as the 488m-long hull of Shell’s Prelude floating liquefied natural gas (FLNG) facility floats out of the dry dock at Geoje, South Korea’s Samsung Heavy Industries yard, where the facility is currently under construction. Upon completion…
Malaysia-based offshore oilfield services firm Bumi Armada Berhad has been awarded three contracts by LUKOIL-Nizhnevolzhskneft LLC to provide three Ice-Class vessels to service offshore platforms in the Filanovsky field, in the Caspian Sea…
Heerema Fabrication Group (HFG) has opened a new €6 million fabrication facility in Opole, southern Poland. Heerema said growing demand for qualified prefabrication of small offshore steel structures and substructures for HFG’s fabrication yards…
Petroleum Geo-Services (PGS) announces the TRITON GeoStreamer® Full Azimuth survey, a new solution to complex imaging problems in the deepwater Gulf of Mexico. PGS offer this survey as the next important advance in tailored acquisition design…
UK-based EV, a specialist in downhole video technology, has launched its Optis HD Electric line camera to the well intervention market, which they say can provide vital wellbore imagery that can save time and reduce risk. The new technology…
PTTEP and Pertamina signed a 50:50 joint venture to buy Hess' assets off Indonesia for US $1.3 billion. The companies will gain 75% stake in Pangkah field and 23% in the Natuna Sea A field. The Pangkah transaction will be finalized in Q1 2014…
Statoil, Technip sign framework contract Statoil has made a call-off for the framework contract Technip has with Statoil for diving services. The work will be performed in connection with the future Edvard Grieg oil pipeline as well as Utsira high gas pipeline…
The deadline for entries for this year’s Offshore Achievement Awards (OAAs) has been extended to December 9. Ambitious companies and individuals hoping to be recognised amongst the best and brightest that the UK offshore industry has…
Fincantieri has signed an agreement with a Russian research centre to define plans for a new drillship able to navigate in ice up to 1.5m thick. The Italian ship building firm has also won a contract with Russia's RosRAO, to build a semisubmersible…
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