Lundin Petroleum subsidiary Lundin Malaysia has completed the Imbok-1 exploration well offshore East Malaysia. The well, located in Block SB307/308 encountered minor oil shows and was plugged and abandoned. The well was targeting hydrocarbons in Miocene aged sands…
Italy’s Eni commenced production from the Mpungi field offshore Angola that will bring production ramp up in the West Hub Development Project to about 100,000 boe/d this quarter. N’Goma FPSO. Image from SBM Offshore…
Norway, Cyrpus based rig operator Songa Offshore suffered a BOP equipment failure on one of its new Cat D semisubmersible drilling rigs as it was readying to start operations for Statoil. The Songa Endurance started drilling operations…
UK trade union Unite repeated a call for the industry to end its year-long imposition of cuts after members in the Offshore Contractors Association (OCA) agreement accepted improvements to their terms and conditions. Following a consultative ballot…
Premier Oil has confirmed its Isobel Deep oil discovery offshore the Falklands, as well as an additional discovery in the same well. The well, which was a re-drill of the 14/20-1 Isobel Deep well, hit 27m of net pay, with no oil water contact or gas…
Oil prices have been extremely volatile since the first trading day of 2016 and hit 12-year lows last week with Brent dropping below US$33/bbl for the first time since 2005. The fall in the Chinese manufacturing index, the Saudi-Iran…
Baker Hughes’ rig count for December 2015 shows decreases across five of the six regions with the US suffering the most, representing a 59.3% drop year-on-year, and the Middle East with the only increase. Image from iStock…
ABS, a provider of classification services to the global marine and offshore industry, has signed a strategic cooperation agreement with Marine Design and Research Institute of China (MARIC) to expand collaboration, focusing on operational…
PACC Offshore Services Holdings (POSH), an Asia-based offshore marine services provider, has announced that it has entered into a joint venture (JV) and incorporated “POSH Saudi Co.” with Saudi Arabia’s Hmood Al-Khalaf Group as part of its plans to expand its presence in the Middle East…
Hardide Coatings, a UK-based provider of advanced surface coating technology, has announced the opening of its new Virginia production facility. In January 2015 the company commenced an investment of up to US$7 million in Martinsville to expand its production operations to North America…
A floating production vessel working on CNR International Banff field has become the latest victim to bad weather in the UK. The Teekay-owned Petrojarl Banff unit, based some 190km east of Aberdeen, saw two of its 10 achor lines 'lose tension' at around midnight on 3 January…
A year on since the oil price collapse and the effects are making themselves felt across Northwest Europe, particularly in the UK and Norwegian sectors. The count of exploration and appraisal well spuds in the UK is an all-time low…
Lundin Petroleum has started drilling the Bambazon exploration well in Block SB307/SB308, offshore East Malaysia. The Bambazon prospect is in shallow water and lies to the north of a major producing field in offshore East Malaysia. The well will target hydrocarbons in Miocene aged sands…
Statoil Petroleum has signed master service agreements with Aker Solutions and OneSubsea Processing. The agreements form the basis for potential new engineering, procurement and construction (EPC) for subsea equipment in the medium term future…
2015 truly was the year of ups and downs. At the start of the new year the price of oil tumbled to just below the US$50/bbl mark and by 31 December it rested at just under $40, at $37.04/bbl. However, it is not known what true bottom is for the market…
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