Aker Solutions, N-Sea and Saab are in contention for the Subsea Company of the Year award at this year’s Subsea UK Awards, held during Subsea Expo – Europe’s largest subsea focused exhibition and conference, and supported by principal media partner OE…
Sparrows Group, and its cable and pipe-lay solutions (CPLS) division, has been awarded a contract by Oceaneering International, a provider of engineered services and products to the offshore oil and gas industry, to design and manufacture two 500-tonne powered and jack-able under-rollers…
Shipping and offshore specialist law firm Wikborg Rein says current low oil prices could mean there are bargains to be had for investors in the offshore sector who follow recommended procedures for assessing and acquiring distressed companies…
Vaalco Energy’s North Tchibala 2-H well, the second development well drilled by Vaalco in the North Tchibala field, was brought online, offshore Gabon. The well was stabilized at rate of approximately 500 b/d, gross. The well was drilled to a measured depth of 16…
You’ve found the oil. Now drill into significant cost savings.Having the resources is only the start. It’s knowing how to maximise the potential as cost-efficiently as possible is the key. Based on knowledge gained over 500 global drilling operations…
Aker Solutions suffered a disappointing loss to competitors in Statoil awards that will see the oil services company lose up to US$69 million in revenue, undergo workforce reductions, and an organizational restructure of its maintenance, modifications…
Noble Energy revealed a 15,000 boe/d increase in its Q4 2015 sales volumes for both offshore and onshore fields to an estimated 405,000-415,000 boe/d. Map of Noble's Gulf of Mexico assets. Image from Noble…
US-based Freeport-McMoRan (FCX) is cutting two vessels in the Gulf of Mexico in an effort to defer investments in several of the company’s long-term projects due to the oil and gas market slump. Image from FCX…
Apache is to increase investment in drilling to 78% of its annual capital spending in 2016-2020, compared to 51% in 2012-2015, a business breakfast was told in Aberdeen this morning. Investment in seismic will double, from 5% of its capital spending to 10%…
Even before the drastic drop in oil prices, deepwater extraction costs were under examination, as costs had nearly quadrupled in the past 10 years. The price collapse has created a greater urgency for rethinking how the industry does business…
Oil major Shell has been fined £22,500 after admitting failures that led to an oil leak in the North Sea. The leak, the biggest in a decade in the North Sea, was discovered on 10 August 2011, when oil was spotted on the sea surface near Shell’s Gannet F field…
Norway's Det Norske has bought UK-based independent explorer Premier Oil's Norwegian assets for US$120 million, just a month after agreeing to buy Svenksa Petroleum for $75 million. The Premier Oil assets include the Vette development…
Houston headquartered Apache has unveiled a string of discoveries it has made in the UK North Sea which could increase its total North Sea reserve base by 50% and result in investment in new production facilities. The company says it has made two 'significant' discoveries in the Beryls area…
Technip CEO Thierry Pilenko. Photo from Technip. “We are in an environment where something was broken.” It’s a harsh summary but one few would dispute. Nor would many now…
Noble Energy has commenced production from the Big Bend oil development in Mississippi Canyon 698 of the deepwater Gulf of Mexico. Noble and partners expect the single-well field to reach a maximum gross production rate of approximately 20…
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