North Sea exploration firm Independent Oil and Gas (IOG) has agreed to buy Oyster Petroleum off Verus Petroleum (previously Bridge Energy) for up to £3.25 million (US$4.6 million). The move will see IOG take over 320.7 Bcf (53.45 MMboe)…
A cross-industry project led by DNV GL to halt the boom in subsea documentation shows that implementing a standardized approach can significantly reduce engineering hours. The two-year collaboration led by Norway-based DNV GL has resulted…
The North Sea basin has a two-year transformation window in which to ensure a strong, productive and profitable future for the sector according to senior oil and gas executives interviewed for PwC’s latest report, 'A Sea Change.' While…
Statoil made two oil discoveries in the Bay du Nord area during its 19-month exploration drilling program offshore Newfoundland, which the company is estimating the finds to possibly be in the lower end of the anticipated volume range. Map…
BP and Det norske oljeselskap have combined their Norwegian businesses to create Aker BP – a move that is expected to organically grow production to more than 250,000 boe/d by the early 2020s. Image from BP…
The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway a drilling permit for appraisal well 7220/11-3 AR on its Alta discovery in the Barents Sea. The well will be drilled from the Leiv Eiriksson in production license PL 609…
Trelleborg’s offshore operation has appointed Sebastian Araujo as managing director of its Brazilian manufacturing facility in Macae. Araujo has an extensive background in the oil and gas subsea sector, previously holding general and…
Jobs supported by the UK’s offshore oil and gas industry, currently under the severe strain of continued low oil prices, will have fallen by the end of 2016 by an estimated 120,000 since their peak in 2014. New employment figures based…
Vancouver-based EnerGulf Resources entered into a letter of intent (LOI) with Houston-based Texas South Energy, to participate in six offshore Gulf of Mexico (GoM) prospects owned and operated by GulfSlope Energy. GoM operations…
The first call for Mexico’s Round 2.1, consisting of 15 shallow water blocks, is anticipated to be released before the end of July, the country’s Secretary of Energy confirmed in Monterrey. The…
Wintershall’s flagship development in Norway has reached a new milestone as the two giant subsea templates for the Maria field were installed offshore last week. The 285-tonne templates, each the size of a basketball court, sailed…
The European Commission (EU) has awarded more than US$4.4 million (€3.9 million) to support tidal energy testing and demonstration in Orkney waters. Magallanes test turbine installation at EMEC…
GE’s Marine Solutions was awarded a service contract by CIMC Raffles to provide the first dry-dock services on two of Gazflot’s semisubmersible drilling vessels, the Northern Lights and Polar Star. During the dry-docking, GE’s Marine…
PGS’s newest Ramform Titan-class survey vessel, the Ramform Tethys,has made her first project a new world towing record by drawing the world's largest seismic spread. Image of the Ramford Tethys…
Petrofac has been awarded a three-year contract to provide a condition monitoring program for Bumi Armada’s Olombendo floating, production, storage and offloading (FPSO) unit bound for offshore Angola. Currently under conversion in Singapore…
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