Wood Group Mustang has been chosen by the Leviathan partners to provide the front-end engineering and design (FEED) work for the Leviathan project’s production platform in a US$120 million deal. Image from Wood Group Mustang Twitter…
Rystad Energy’s new report claims that there is hope in the oilfield service industry despite the current downturn, with an expected US$30 billion growth to be seen in the next two years. Closed and abandoned service markets as well as…
Global upstream capital spending from 2015 out to 2020 has been reduced by 22% or US$740 billion, however, when cuts to conventional exploration investment are included, the figure increases to just over $1 trillion, Wood Mackenzie said. Image…
Helix Energy Solutions completed its contract renegotiations with Petróleo Brasileiro (Petrobras) and has entered into amendments to its well intervention services contracts for its two chartered vessels, the Siem Helix 1 and the Siem Helix 2…
Hoover Container Solutions announced three new changes to its senior management team, supporting its continued global growth. Joseph Levy has been appointed senior vice president and chief financial officer; Johan Wramsby has been appointed senior vice president and chief operating officer…
Last year was a challenging year for the floating production systems (FPS) market. The low oil price threatened the commerciality of numerous projects, delay announcements for FPS units under construction arrived regularly and overall only four orders were placed…
BP’s compiled data from last year has revealed that global energy consumption has slowed further, with the mix of energy sources shifting towards lower-carbon fuels. Image from BP. In…
Primeline Energy has begun arbitration proceedings against China National Offshore Oil Corp. (CNOOC) for continuing disputes over the development, production and sale of gas from the LS36-1 gas field in the East China Sea. Primeline, which has 49% stake in LS36-1 in Block 25/34…
Fourteen new licensing options have been granted to 11 companies in Ireland’s second phase of the 2015 Atlantic Margin Licensing Round, which has received the largest response in Ireland’s offshore history. Of the 11 companies…
Noble Energy has received approval to move forward with the development of Leviathan, offshore Israel, in addition to inking a US$2.5 billion deal to supply up to 473 Bcf from the highly anticipated project. Image from Delek…
ConocoPhillips is working to plug and abandon 130 wells in the southern North Sea, reducing the number of days it takes as it works through the program. But, it wants to improve further, Elaine Maslin reports. The GMS Endurance jackup…
Greek exploration and production firm Energean Oil & Gas has secured a US$75 million loan from the European Bank for Reconstruction and Development (EBRD) to support the company’s ongoing $200 million investment plan in the Prinos and Epsilon oil fields offshore northern Greece…
Hyundai Heavy Industries (HHI) is spurring efforts to enhance its competitiveness by implementing intense management reform plans including the voluntary retirement of manager-level employees, the company announced today. “Along with the 25% cut of senior managers last month…
Colin Welsh Good news at last! In recent months, I have endeavored to counter some of the gloom that has pervaded the oil business for the last eight quarters by highlighting fundamentals such…
National Oilwell Varco (NOV) introduced an advancement in radio frequency identification (RFID) technology and asset management software for the oil and gas industry. NOV’s latest generation RFID tag, TracTagTM, has been field-proven…
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