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Headwinds to continue thru 2015

Apr 23, 2015

Strong performance in its subsea business has helped Technip offset “unsatisfactory” onshore and offshore revenues despite industry headwinds, the firm’s CEO Thierry Pilenko announced today. But, the chairman of France’s Technip, which recently launched a new subsea joint venture…

Sterling reasserts Ntem force majeure

Apr 23, 2015

London-based junior explorer Sterling Energy is challenging the expiration of its first renewal period on the Ntem concession offshore Cameroon. The firm declared a force majeure on the 100% owned Ntem concession in May 2014, due to its…

Trap Oil warns of possible insolvency

Apr 23, 2015

North Sea exploration minnow Trap Oil has warned that, without urgent additional funding, it is likely to become insolvent.  The firm, which has reduced its overheads from £5.1 million 2 years ago to £1.3 million/yr posted a pre-loss of £44…

BPZ to review Peru data

Apr 23, 2015

Houston-based BPZEnergy says it has started a reinterpretation of all Albacora well and seismic data after finding no oil in its latest well on the offshore Peru field. The firm is currently operating under provisions of Chapter 11 of…

CERAWeek: Fall continues for oil producers' share prices

Apr 22, 2015

Battered by the ramifications of rapidly declining oil prices, oil and gas company share prices continued to fall in 1Q 2015, but the share price declines have lagged behind the drop in oil prices, suggesting the market is pricing a recovery into the stocks…

FTO riserless light well intervention

Apr 22, 2015

FTO Services shows its riserless light well intervention at work in this video.  Riserless light well intervention is able to reduce well intervention costs by eliminating the need to use a drilling rig and it also increases the number of well interventions that can be performed…

ConocoPhillips misses in GoM

Apr 22, 2015

ConocoPhillips’ found no commercial hydrocarbons at its Harrier prospect in Mississippi Canyon Block 118 in deepwater Gulf of Mexico. Harrier was drilled to a total depth of 19,400ft. The well will be plugged and abandoned. ConocoPhillips is the operator of Harrier with 63%…

TGS in Barents 3D seismic

Apr 22, 2015

TGS signed an agreement with Thalassa Holdings/WGP to acquire P-Cable 3D seismic data in the Norwegian Barents Sea.  The activity is expected to last for 90 days and will commence in April 2015.  Also in the Barents Sea this week, several…

CERAWeek: Tillerson advises the industry

Apr 22, 2015

The sudden drop in oil prices is different from cycles in the recent past, said Rex Tillerson, chairman and chief executive of ExxonMobil, during his Tuesday morning keynote speech and discussion at the recently held CERAWeek. This event has been created due to oversupply…

Tentec releases Force10 tools

Apr 22, 2015

Tentec released its new range of topside bolt tensioning tools, Force10.  The Force10 range of topside bolt tensioning tools consist of 10 base tools covering bolt sizes from 3/4in to 4in (M20 to M100) and has been designed to fit on to most ANSI B16…

CERAWeek: Total gets back to basics

Apr 22, 2015

Fifteen years ago, the energy industry was managing its costs very well, said Patrick Pouyanne, chief executive and president of the executive committee for Total SA. Now, operators should find ways to simplify its processes to return to reasonable costs…

Tullow uses XPD8 on Jubilee

Apr 22, 2015

Asset integrity management specialist, XPD8 Solutions, secured a £375,000 contract for work in West Africa with Tullow Oil.  Over six-months, the Aberdeen-headquartered firm will migrate Tullow Oil’s existing computerized maintenance management system (CMMS) to the Maximo software package…

Deepsea Aberdeen starts on Quad 204

Apr 22, 2015

Norway-based Odfjell's newbuild deepwater semisubmersible Deepsea Aberdeen has started drilling operations under a seven-year contract with BP on the Quad 204 field development project West of Shetland, UK. Deepsea Aberdeen (pictured)…

CGG acquires Taurus

Apr 22, 2015

CGG's GeoConsulting business has acquired Calgary-based Taurus Reservoir Solutions. Taurus offers reservoir and geomechanical simulation and engineering technology along with consulting services to the global petroleum industry, from…

Gina Krog FSO ordered

Apr 22, 2015

Teekay has chosen Singapore-based Sembcorp Marine’s subsidiary Sembawang Shipyard to carry out a floating storage and offloading (FSO) conversion for the unit due to be deployed on Statoil's Gina Krog field in the Norwegian sector of the North Sea…

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