Oil major BP has posted a replacement cost loss of US$485 million in Q1 2016, compared with a profit of $2.1 billion a year ago, as it battles the continuing low oil prices. Yet, the firm is set to see production levels lifted as a string of new projects come onstream through 2016-2017…
Tullow Oil is eying exploration leads offshore Mauritania in order to fulfill a minimum work obligation of one well on the block before the second exploration phase runs out in November 2017. Image from Tullow…
Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April…
NSL has won HSE (health, safety, and enviornment) and lifting operations contracts with Italy's Saipem. The two-year agreement will deliver HSE competency assurance and lifting intervention of onshore and offshore lifting operations to Saipem personnel…
Statoil has entered into the German offshore wind market, through a 50% acquisition of the Arkona offshore wind farm. Statoil and E.ON also announce the final investment decision on the 385 MW project. The estimated total investment for the project will be in excess of US$1…
Siemens has received an order for the supply, installation, and commissioning of 60 direct-drive offshore wind turbines, each with a capacity of 6MW. The customer for the project is a consortium between the German power provider E.ON, based in Essen…
Fugro has been awarded a supply arrangement by the Canadian Hydrographic Service (CHS) to provide vessel based hydrographic survey services. Under the contract CHS will procure hydrographic surveys as needed, anywhere in Canada, to enhance…
Deep Sea Supply has been awarded multiple contracts by several international oil companies for work in the North Sea, offshore Asia, and South America. Statoil awarded Deep Sea a two-year contract, plus three yearly options for the PSV Sea Falcon for operations in the North Sea…
Halliburton has cut more than 6000 positions during Q1 2016, bringing its workforce down by one-third since late-2014, in addition to a decreased revenue of 40% during the period. Image from Halliburton…
CGG GeoSoftware has released VelPro, a velocity modeling and depth conversion software used to integrate seismic and well velocity information, horizons, faults and well tops into data-driven velocity models. VelPro models complement…
China National Offshore Oil Corp. (CNOOC) has started production at its Panyu 11-5 field in the South China Sea. Panyu is loctated in the Pearl River Mouth basin in 110m water depth. While there is currently one well producing approximately 3270 b/d…
Interocean Marine Services have been awarded a five-year contract by Maersk Oil North Sea UK for the provision of rig move and marine technical support services. The work will be managed by Interocean’s head office in Aberdeen, and will…
Petrobras has exercised an option to extend the fixed term of the lease contract for the floating production, storage and offloading (FPSO) vessel the BW Pioneer from Q1 2017 to Q1 2020. The FPSO BW Pioneer started work on the Cascade…
Aberdeen-based upstream consultancy Add Energy has agreed to a new, global maintenance integrity and asset performance management agreement with Shell. The contract, valued at approximately £3 million (US$4.3 million), will secure jobs for more than nine people over the next three years…
Wood Group has been awarded four subsea contracts with Statoil on the Norwegian continental shelf (NCS). The latest award is a study to deliver subsea field concept engineering for the Snorre expansion project. This project will focus…
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