Total has agreed to sell a 15% stake in the Gina Krog field in Norway to Tellus Petroleum, a subsidiary of Sequa Petroleum for NOK 1.4 billion. 'As a result of a full comparative review of our global asset portfolio and in particular of our vast portfolio of opportunities in Norway…
The US Department of the Interior announced it will cancel two planned Arctic offshore lease sales under the US government’s current five-year plan for 2012-2017 due to Shell’s failed Arctic campaign and current market conditions, which left…
In this video, Aker Solutions talks about the vision of the world’s first subsea gas compression system to the Statoil-operated Asgard field offshore Norway. The NOK 19 billion (US$2.34 billion) Åsgard subsea gas compression project…
Oil services giant Schlumberger revealed its revenue took a 33% plunge in 3Q 2015 with revenue hitting almost US$8.5 billion for the period, citing a decline in rig activity and pricing pressure as the reasons. The results are causing the…
MEO Australia’s exploration portfolio will be getting thinner next year, as the company announced it will drop out of three Australian blocks in the next six months due to high risks and minimal potential. Map of Beehive…
CEOs of 10 global oil and gas companies have joined forces to encourage a declaration on climate change to be made at next month’s 21st session of the United Nations (UN) Conference of Parties to the UN Framework on Climate Change - COP21…
Lundin Petroleum has started drilling exploration well 16/1-25 S on the Rolvsnes prospect in PL338C about 6km south of the Edvard Grieg field in the Norwegian sector of the North Sea. Well 16/1-25 S will explore the Rolvsnes area, between the Edvard Grieg field and the Luno II discovery…
Noble Energy has recorded oil and gas shows in the 53/02-01 Humpback exploration well, according to partner Falklands Oil and Gas (FOGL). The 53/02-01 well was drilled to 4718m with the oil and gas shows in the main target horizon and…
Aker Solutions and MAN Diesel & Turbo agreed to form an alliance to develop the next generation in subsea compression systems that can be used at even the smallest oil and gas fields to increase recovery and lower costs compared with conventional platform solutions…
In Repsol's 2016-2020 Strategic Plan, unveiled today, the company vowed to cut spending by 38% and divest US$7.1 billion (€6.2 billion) in non-strategic assets. The company said it expected to make half of those divestments in the next two years…
Statoil has, on behalf of the Johan Sverdrup partners, awarded Aibel in Norway the contract for construction of the converter station at Haugsneset and required construction site work for land-based power supply to the field. The contract covers engineering…
The Institute of Marine Engineering Science and Technology (IMarEST) will be offering free student membership to all students (undergraduate and postgraduate), cadets and apprentices for the duration of their studies or training. This…
Petrobras announced a further hydrocarbon discovery at the giant pre-salt Libra field in the Santos basin, offshore Brazil. The Brazilian national said that well 3-BRSA-1310-RJS, in the central portion of the block, identified the presence of hydrocarbons in a low-porosity reservoir…
Technavio has published a new report on the global drill bits in oil and gas industry, which is expected to grow at a CAGR of more than 4% from 2015-2019. The company says that the persistent decline in prices during the forecast period…
KNOT Offshore Partners announced that it has completed its acquisition of the ownership interests in the company that owns and operates the shuttle tanker Ingrid Knutsen for an aggregate purchase price of $115.0 million. KNOT has financed the purchase price with cash in hand…
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