Start up on the Stella field will mark a step-change in operator Ithaca Energy's business, the firm said this morning. First oil on the field, due at the end of this month, will see the firm's production more than double to 20-25,000 boe/d and unit operating costs drop to under US$20/boe…
Statoil has confirmed to the Oil and Gas Authority that it will drill a well on the Verbier prospect in the North Sea, in summer 2017, according to partner Jersey Oil & Gas. Jersey says the prospect, which is in production license 2170…
North Sea intervention firm Altus Intervention has won a fixed term, five-year contract to provide well intervention services for Maersk Oil UK. Altus Intervention was awarded the contract for the provision of slickline services, coiled tubing services…
Italy's Fincantieri has offered to buy out all the shares in shipbuilder Vard. Shipbuilding group Fincantieri, which is listed in Italy and is currently the majority shareholder in Vard, with 55.63% of shares, is offering S$0.24 a share in cash for Vard…
Premier Oil's Solan field, west of Shetland, was shut-in over concerns about safety on the what was designed to be normally unmanned facility. The Solan oilfield came onstream in April this year. The to be normally unmanned facility…
Mitra Energy, via its subsidiary Jadestone Energy, has acquired the producing Stag oilfield, offshore Australia, from Quadrant Northwest and Santos Offshore. The move sees the firm become a producer for the first time. The Stag oilfield…
KBR selected and implemented Intergraph Smart 3D from Intergraph Process, Power & Marine (PP&M) to improve the execution of key projects for the design and construction of offshore platforms and large liquefied natural gas (LNG) liquefaction plants around the globe…
The Board of Directors of Paragon Offshore has appointed Dean E. Taylor, a member of the Board, to serve as interim president and chief executive officer, effective immediately. Taylor, who has served as a director of the company since its founding in 2014…
Mexico’s national oil company Petróleos Mexicanos (Pemex) unveiled its 2016-2021 business plan that will see the company take advantage of the Energy Reform with an aggressive farmout program, expecting to increase production by 15%. Image from Pemex…
Sonangol and its Block Zero partners Cabinda Gulf Oil Co., Total E & P Angola, and Eni Angola, started the early production system (EPS) operations at the South Wellhead Platform of the Mafumeira Sul project, off the Coast of Malongo, in the province of Cabinda on 31 October…
Subsea 7’s revenue fell more than US$1 billion in the first nine months of the year, however, the company remains positive that there will be a surge in subsea, umbilical, riser, and flowline (SURF) projects within the next 18 months. Image…
Total investment in oil and natural gas extraction in Norway was 21% lower in 1H 2016 compared with 1H 2015, a decline of about US$3.5 billion (NOK 20.9 billion). However, investment cuts have affected some segments of the industry more than others…
Sonomatic, a provider of automated ultrasonic inspection services, has developed a tool for the internal inspection of caissons. The integrity of caissons is critical to safe and efficient operation of offshore structures. As offshore facilities age…
The Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB) received nearly US$563 million (CAD $758 million) in work commitments in its latest deepwater bid round for the East Newfoundland and Jeanne d’Arc regions, offshore the Canada-Newfoundland and Labrador areas…
China Oilfield Services' 12-streamer HYSY 720 seismic vessel has completed the operations of two 3D seismic data acquisition in the Arctic Barents Sea recently. The campaign covered three blocks and follows a previous campaign covering 1820…
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