Centrica has cut its exploration and budget 40% saying that it thinks oil prices will remain low for the rest of 2015 and potentially also into 2016 and 2017. The comments, made by the firm's CEO Iain Conn, echo BP CEO Bob Dudley's…
Russia's Gazprom has approved a new route for a gas pipeline across the Black Sea to Turkey. Gazprom had been due to build, in partnership with Eni, Wintershall and EDF, the South Stream pipeline, from Russia, across the North Sea, to Bulgaria and on to Italy…
Eni's Goliat cyclindrical floating production, storage and offloading (FPSO) platform, built in South Korea and now destined for the Barents Sea, has finally been loaded ready for transport to Norway. The 107m-diameter Goliat platform…
Aquaterra Energy is launching its new riser monitoring system (RMS), analytic equipment that the company says will enhance health and safety, increase asset life extension and deliver cost savings for the industry. Doyle…
Statoil and its partners have submitted their development plan for the largest oil field on the Norwegian Continental Shelf (NCS) since the 1980s – a project tipped to have “ripple effects” through the whole Norwegian economy for years to come…
Statoil is considering using an unmanned wellhead platform - instead of a subsea development - for a planned extension of the Oseberg field development. Illustration of unmanned wellhead platform. From Statoil…
A number of organizations have been looking at ways to reduce energy use and emissions offshore. Sintef has been working on a waste heat recovery project, focusing on gas compressors, with research involving operators and equipment vendors…
Private equity group Epi-V has taken on Talisman Sinopec Energy UK CEO Geoff Holmes to lead its FourPhase portfolio company CEO as it looks to grow its global portfolio. it has also taken on Expro director Tony Kitchener, as Chairman…
A unique and long-awaited sight arrived at one of Europe’s busiest ports early January - Allseas’ 382m-long, 124m-wide platform installation/decommissioning and pipelay mega-vessel Pieter Schelte. KOTUG…
CNOOC began production at its 100% owned and operated Jinzhou 9-3, offshore China. Image from CNOOC. The Jinzhou 9-3 oilfield is located in the North Liaodong Bay in Bohai in 6.5-10…
Statoil shows the process of getting its US$2.9 billion Valemon field on stream. The high-pressure, high-temperature, gas and condensate development, located in the Norwegian sector of the North Sea, started production on 3 January…
With oil prices depressed, Greg Hale argues that automation could make a much needed difference in the offshore industry. The scenario is set and it is time for everything to play out: automation can come to the rescue of the offshore oil and gas industry…
Statoil has continued a contract award spree on its giant Norwegian North Sea Johan Sverdrup project, awarding Aker Solutions a US$590 million detailed engineering contract. Johan Sverdrup, which sits in on the Utsira High, 140km west of Stavanger…
An incident on the BP-operated Central Area Transmission System (CATS) riser platform during a restart in the middle of December means output on the Huntington field, and others, remains restricted. Partners in the E.ON operated Huntington field…
North Sea oil independent EnQuest is expecting its 2015 production to be at least 10% above previous expectations, and announced a 40% cut in capital spending, easing concerns the firm could breach debt covenants. EnQuest said 2014 production was up 17% compared to 2013…
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