As Stone Energy reported a net loss of US$8.4 million in Q3 2015, the company’s operations in the Gulf of Mexico are moving full steam ahead, with exception of the decision to shed a minority stake in one non-operated project, in addition to cutting some of its workforce in Q4…
Faroe Petroleum has completed an up to US$20 million deal to acquire Roc Oil (GB Holdings), which holds 12.5006% interest in the Blane field and a 12.00% interest in the Enoch field, both in the UK North Sea. Roc Oil GB is a subsidiary of Roc Oil Company…
Some 40-50% of savings or efficiency gains need to be made if the industry is going to survive the low oil price regime we are in, an industry event was told in Aberdeen today. 'For us to survive this long-term, to get by on the oil price as it is…
Jerry Lee reports on all the exploration and production activity currently ongoing in the Mediterranean and North Africa. The Maersk Discoverer drilling in Egypt’s East Mediterranean Sea. Photos from BP…
CGG announced that it has been appointed as technical consultant by the Gabonese Republic’s Ministry of Petroleum and Hydrocarbons to help with the promotion of its 11th Licensing Round focusing on five highly prospective deepwater blocks…
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…
Drilling on the Spanish Point area offshore Ireland is now scheduled for 2017, according to partner Providence Resources, which is now looking to farm-out some of its 58% interest in the license. Spanish Point, in Frontier License 2/04 and 4/08…
Foxtrot International has started production from a second platform on Block CI-27 offshore Côte d'Ivoire, according to Foxtrot part owner, Oslo listed RAK Petroleum. The Marlin-B1ST well, the first well in an initial five-well drilling…
Transocean has chosen to delay the operating and delivery contracts for two newbuild ultra-deepwater drillships by 12 months, the company announced on 26 October. Transcocean, working with its customer, Shell, and the shipyard, Daewoo…
A new report reveals that whilst the current environment is creating opportunities for innovation, almost half of oil and gas executives admit they have fallen short of their innovation goals. The number of respondents saying they have fallen…
The North Sea’s first producing oilfield, Argyll, has finally been brought back on stream by operator EnQuest, after being started and decommissioned twice in the past by previous operators. Argyll, now named Alma, and part of EnQuest’s Alma/Galia development…
Alpha Petroleum has lifted the lid on a new FPSO based development for the Cheviot heavy oil field in the UK sector of the North Sea. Alpha has spelled out plans for a 26 well project with a target for first oil in 2021, which will have production of up to 35…
Norwegian firms have chalked up yet another subsea first on the country's continental shelf. Just weeks after Statoil brought the Aasgard subsea gas compression project online, on 17 September, Statoil has announced it has now also started…
US-based Era Group’s Brazilian joint venture Aeróleo Taxi Aero received notification from Petroleo Brasileiro (Petrobras) that Petrobras will cancel the ongoing tender process for heavy and medium helicopters, leaving the helicopter with a potential workforce reduction…
Although Houston-based FMC Technologies fell 22% in its 3Q 2015 revenue, the company managed to book US$1 billion in subsea orders, and added US supermajor Chevron to its 20k JIP. FMC ROV. Image from FMC Twitter…
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