Norwegian giant Statoil and Argentina’s state owned company YPF have entered a cooperation agreement to study the offshore areas of Argentina. Darre, Dodson. Image from YPF. YPF CEO Ricardo Darre…
ExxonMobil took a 38% decline in its Q3 2016 earnings, in addition to reducing its capital and exploration expenses by 45% during the period. Image from Exxon. The supermajor’s earnings for Q3 2016 took a US$1…
Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 MMb/d in 2015. Deepwater production, or production in water of depths greater than 125m, has increased 25% from nearly 7 MMb/d a decade ago…
US supermajor Chevron reported a 35% decline for Q3 2016 when compared to 2015, and an even more drastic drop when looking at its total earnings for the first nine months of the year. Big Foot…
Inpex made a gas find at an exploration well offshore the Shimane and Yamaguchi prefectures in Japan. The Transocean M.G. Hulme Jr., from Inpex. The Transocean M.G. Hulme Jr. semisubmersible…
French oil major Total has made a deepwater oil discovery in the Black Sea, Bulgaria, opening up a new play. The discovery was announced in Total's Q3 results and while unnamed has been identified as the Polshkov-1 well, which the firm…
Oceaneering International has been awarded a two-year extension through January 2019 under the field support vessel services contract for work on Blocks 18 and 31 offshore Angola. Under the contract extension, the Ocean Intervention III vessel will remain chartered through April 2017…
UK explorer Independent Oil and Gas (IOG) has completed the acquisition of 100% of the shares of Oyster Petroleum, a subsidiary of Verus Petroleum. Oyster holds southern North Sea licenses containing the Vulcan East, Vulcan North West and Vulcan South fields…
TGS is expanding its North West Atlantic Margin (NWAAM) multi-client library in the Mauritania, Senegal, Guinea-Bissau and Conarky Basin (MSGBC). It has plans to acquire more than 11,500km of long-offset broadband 2D seismic data as well as magnetic and gravity data…
ConocoPhillips reported a US$1 billion loss in Q3 2016, along with plans to reduce its capital expenditures. ConocoPhillips headquarters, from ConocoPhillips. Although the Q3 loss for ConocoPhillips was big…
Husky Energy President and CEO Asim Ghosh will retire, with Rob Peabody, Husky's chief operating officer will take over for Ghosh, effective 5 December. 'For the past seven years Asim has brought his extensive business experience and…
The Lake Erie Energy Development Corp. (LEEDCo) in Cleveland, Ohio has appointed Offshore Design Engineering Ltd. (ODE), an engineering and operations support services contractor that is part of the DORIS Group located in the UK, as the engineering representative for Icebreaker Wind…
ExxonMobil’s newest discovery offshore Nigeria could possibly hold up to 1 billion bbl, the supermajor said today (27 October). Image from Exxon. Exxon said a “significant discovery”…
Hurricane Energy is suspending the Lancaster sidetrack well offshore the UK to develop as a future producer and moving on to its Lincoln well. Technip today also confirmed a win for its subsea joint venture with FMC Technologies, Forsys Subsea…
Ongoing low oil prices and reduced spending by oil majors are continuing to hurt the oil industry, with a new round of layoffs in full swing. But, some, at least, are seeing the possibility of light at the end of the tunnel. The gloom…
Subscribe
