Forecasters with the National Oceanic and Atmospheric Administration's (NOAA) Climate Prediction Center raised the likelihood for a below-normal season in last week’s update to the Atlantic Hurricane Season Outlook. Image…
Mexico’s senate has given the final congressional approval to the country’s watershed energy reform that will open up the oil industry to private investment in a 78-26 vote late Wednesday night. The reform, which initially became law 21 December 2013…
Finland's Arctech Helsinki Shipyard signed a contract to build three icebreaking stand-by vessels for Russia´s largest shipping company, Sovcomflot (SCF Group). The vessels will be built for the North East Sakhalin Offshore region oil…
Chinese industrial conglomerate Fosun International Ltd. is buying Australia’s Roc Oil Co. Ltd. in an all-cash, A$474 million (US$441 million) transaction. Sydney-based Roc Oil has assets from Australia to Malaysia, China, and the UK North Sea…
Oman's Ministry of Oil & Gas (MOG) has announced an oil and exploration bid round which includes two blocks offshore. The two offshore blocks 18, 59 are being opened to bidders alongside onshore blocks 43A, 54, 58. Block 18 is in…
BW Offshore has agreed a US$800 million, 10-year credit facility for the Catcher floating production, storage and offloading project. The facility is a combined construction and long term financing facility. The credit facility was substantially…
Galp Energia will plug and abandon its Tao-1 exploration well in the Tarfaya block offshore Morocco after encountering unfavorable reservoir quality in the Trident objective, partner Tangiers Petroleum announced on 4 August 2014. The…
Petroleos Mexicanos, Mexico's national oil company, released 2Q 2014 financial results last Friday. Total sales increased by $15.9 billion pesos (US$1.2 billion), which represented 4% growth year-over-year. The growth is primarily attributed to a 27…
Total E&P UK’s HPHT Elgin Franklin complex. Image from Total E&P UK. High-pressure, high-temperature developments are on the increase in the UK North Sea…
Statoil released a video showing the Valemon topside arriving on 26 July 2014 near Stavanger, Norway after a 40-day trip from South Korea. The topsides set sail in June from the Geoje yard in South Korea, where Statoil contracted…
Loading rock on to the Flintstone at Shenzhen, mainland China. Photo from Tideway. Fast local sourcing and past experience helped Tideway turnaround a Chinese rock placement project in quick time…
China National Petroleum (CNPC) and Cupapetroleo (CUPET) signed a framework agreement to increase crude output and production sharing and a cooperation agreement on drilling services in Havana, Cuba on 22 July. Under the agreements, CNPC…
Ingrid Sølvberg, director for the Norwegian and Barents seas, Norwegian Petroleum Directorate. Photo from UTC. Challenges to produce new areas, like the Barents, and extend the life of more mature regions…
Portugal-based Galp Energia’s recent drilling campaign at the Tao-1 exploration well in the Tarfaya block off Morocco was unsuccessful, partner Tangiers Petroleum announced 28 July 2014. Australian-based Tangiers Petroleum, which holds 25% interest in the Tarfaya block…
Topsides were lifted into place on the 9150-tonne steel jacket on the Valemon field in the Norwegian North Sea on 28 July, operator Statoil announced. Statoil's Valemon. Photo from Statoil's Andre Osmundsen…
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