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…
Hibiscus Petroleum's wholly-owned subsidiary Carnarvon Hibiscus (CHPL) has commenced drilling operations at its Sea Lion-1 exploration well, off the coast of the state of Victoria, in southeast Australia. Not to be confused with Premier Oil's Sea Lion project offshore the Falkland Islands…
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…
The big four oil services companies released their 3Q 2015 reports this week and the news is a sign that things are not improving in the sector, and in particular in North America. However, globally, thousands more job cuts are expected. Halliburton…
Brazil’s National Agency of Petroleum (ANP) held the 13th Bidding Round for exploratory blocks yesterday (7 October) that almost mirrored Mexico’s Round One, in that the ANP was only able to sell 37 out of the 266 blocks offered. Brazil's 13th round…
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…
Sweden's Lundin Petroleum has agreed to sell its Indonesian oil and gas assets to PT Medco Energi Internasional TBK for US$22 million. The Indonesian assets include a non-operated interest in the producing Singa gas field and operated…
Spanish yard Dragados Offshore and Norway’s Kvaerner Verdal have won the latest construction contracts on the Johan Sverdrup mega-project. Statoil, operator on the multi-million dollar development, in the Norwegian sector of the North Sea…
In 2016, Bruce Clement will step down from his position as managing director and CEO of AWE Ltd., after five and a half years of being in the role. Image of Clement. From AWE. According to AWE…
Mexican state owned company Pemex this morning announced it had evacuated the Sihil-A platform in the Bay of Campache, offshore Mexico, in the latest of a string of incidents offshore Mexico this year. The firm said the measure was taken…
In this video, Norwegian giant Statoil shows the installation of its largest-ever built jacket for one of its project, the Mariner project. The steel jacket for Statoil’s Mariner platform on the UK Continental Shelf has now been placed on the field…
Primeline Energy Holdings announced that its drilling contractor China Oilfield Service (COSL) started the mobilization of the rig for the drilling operation of LS23-1-1 well, in the East China Sea. Following the signing of the drilling…
The Danish North Sea high-pressure, high-temperature Hejre oil field project continues to be challenged by delays from its supplier consortium, according to operator DONG Energy. Henrik Poulsen, the firm's CEO and President, said DONG continues to press for first oil in 2017…
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