Uncertainty, high costs and low exploration rates are continuing to hamper the North Sea, according to a report published today (10 October). Business advisory firm Deloitte’s Petroleum Services Group’s report says that exploration rates remain low…
Statoil Petroleum has made a gas discovery in wildcat well 7220/2-1 on the Isfjell prospect in production licence 714. The well, the first in PL714, was drilled in about 429m water depth, using the Transocean Spitsbergen semisubmersible drilling rig (pictured)…
Faroe Petroleum has completed the acquisition of a 53.1% operated interest in the Schooner field and a 60% operated interest in the Ketch field in the UK southern North Sea gas basin from Tullow Oil. Both fields are in Blocks 44/26a and 43…
Perenco, Tullow Oil’s partner in the Arouwe block offshore Gabon, has said the Sputnik-1 well, targeting a pre-salt structure in Gabon’s offshore Arouwe block, made a non-commercial discovery. But, according to Tullow, the pre-salt well's results are encouraging…
VAM USA celebrated its 30th anniversary on 9 October. The company hosted a gathering at its Houston headquarters to mark the event. Among the participants were customers, the board members from Vallourec, NSSMC and Sumitomo Corporation, the group’s North American leadership…
Noble Energy and Singapore-based Ezra Holdings’ subsea division EMAS AMC, finalized three subsea tieback contracts worth approximately US$300 million. Image from Ezra. The scope of work includes engineering…
Liberia’s current invitation-only bidding round has ignited interest among international oil companies, due to the country’s considerable hydrocarbon potential and favorable fiscal terms. However, the Ebola virus outbreak and Liberia’s poor infrastructure will pose challenges to the round…
Petrofac’s Offshore Projects & Operations business unit has been awarded a major reimbursable contract on the UK Continental Shelf. In the central North Sea, Petrofac has been selected to provide engineering and construction support…
Through water communication and positioning technology firm Nautronix has secured an order to supply NASNet, an underwater positioning system, to Subsea 7. The system will be used on Statoil's Aasta Hansteen field, in the northern Norwegian Sea…
In 2014, decommissioning spending on the UK Continental Shelf (UKCS) will reach approximately US$1.6 billion (£1 billion) for the first time in a single year, according to data published 9 October. The data, gathered from 28 UKCS operators…
Wärtsilä signed a joint development agreement with Indonesian national energy company Pertamina and waste utilization company Godang Tua Jaya on 8 October with the intent to create the first bio-LNG plant in Indonesia. Wärtsilä Oil &…
The Minister of the Environment and Housing announced that a new Petroleum Act and a suite of regulations to guide and govern oil exploration in The Bahamas has been completed and is now to be placed before the House. Map from Bahamas Petroleum…
CGG is launching its new business line, multi-physics effective 1 January 2015. The multi-physics business line will be established in the acquisition division and will build upon CGG’s strength in potential field and electromagnetic geophysical methods…
Marine Contracting's Houston outfit towed LLOG Exploration’s Delta House semisubmersible floating production system (FPS) to its operating site located in Mississippi Canyon 254 in the Gulf of Mexico. LLOG Delta House…
MPX North Sea's exploration well 9/14a-15a on the Aragon prospect in the North Sea is to be plugged and abandoned after the reservoir was found to be water bearing. Drilling and open hole logging operations were completed on the well…
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