Wintershall's Kvalross exploration well in the Norwegian sector of the Barents Sea (Faroe 40%) is being abandoned after it was found to be non-commercial. The well, 7224/2-1, was spudded on 11 January, and reached a total vertical depth of 2917m in the Lower Triassic Havert formation…
Saudi Arabia’s oil minister Ali bin Ibrahim Al-Naimi has no concerns about current and future demand, he told delegates at IHS CERAWeek on Tuesday. “The bottom line is that the world demands 90 MMbo/d and long-term this will increase…
Owners of significant floating assets are continuing to feel the pinch in the offshore market as rates sink to “unsustainable levels.” Floating production specialist BW Offshore says it is cutting its onshore staff by 35%, while Norwegian…
During the period of 5-7 January 2016, the Petroleum Safety Authority (PSA) Norway conducted an audit on ENI Norge's facility Goliat FPSO. The audit was conducted as a follow-up to an audit carried out in June 2015 linked to logistics on Goliat…
ExxonMobil is seeking a permit to plug 22 wells at its Jotun field in the North Sea, with start-up planned for April, according to news reports. The Jotun vessel. Image from ExxonMobil. The…
Blow out preventer (BOP) related issues have hit Songa Offshore with low earnings on two of its new Cat D semisubmersible drilling rigs. The Songa Endurance, the second of the firm's four new Cat D rigs, had just 11% operational and earnings efficiency while working for Statoil in Norway…
Transocean’s Deepwater Thalassa has commenced operations on its 10-year contract for Shell’s Stones project in the US Gulf of Mexico this month. The Deepwater Thalassa. Image from Transocean. Stones…
Mexican President Enrique Peña Nieto has fired Emilio Lozoya Austin as CEO at the country's state-owned oil company, Pemex. Lozoya will be replaced by José Antonio González Anaya (pictured), the country’s current director of the Social Security Institute (IMSS)…
The Petroleum Safety Authority (PSA) of Norway has granted Statoil consent to use the Bideford Dolphin mobile drilling facility to drill a sidetrack on the Vigdis field in production license 089. The planned start-up is early February and the activity is estimated to last 8 days…
Danish energy group DONG Energy has made a final investment decision (FID) to build the giant Hornsea Project One offshore wind farm. Once built, Hornsea will be the world's first offshore wind farm with more than 1000 MW capacity. Located 120km off the Yorkshire coast…
UK-based independent explorer Premier Oil's share value surged 100% this morning after trading recommenced following a two-week suspension. On 13 January 2016, Premier announced that it had agreed to acquire the whole of E.ON's UK North…
Lundin Petroleum secured up to US$5 billion in a seven-year deal to fund the company’s stake in Statoil’s giant Johan Sverdrup project, offshore Norway. Johan Sverdrup rendering. Image from Lundin Facebook…
Semi-state owned Danish energy company DONG Energy has decided to keep its exploration and production business ahead of floating on the stock market. But, the firm said its exploration and production business will have to 'adapt to the significant decline in oil and gas prices…
Despite the already difficult North Sea market and painfully high cost levels, a new research report published today by DNV GL reveals that more short-term cost cuts are expected in 2016. Sixty-five percent of UK respondents think mistakes made in previous downturns are being repeated…
Swedish exploration and production firm Lundin Petroleum is to sell the floating production vessel Bertam to Malaysian state-backed M3nergy for US$265 million. The deal, expected to complete in Q1, is subject to certain completion conditions…
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