A striking comment was made by the head of CNR International at a breakfast briefing in Aberdeen this week. James Edens, VP and Managing Director at CNR International (UK), said UK North Sea production in 2013 was 1.43MM boe/d—the lowest it had been since 1977…
The third phase of the Na Kika field in the Gulf of Mexico recently entered production, BP announced. Phase 3 production started on 19 Feb 2014, with a second well expected to come online 2Q 2014. Sitting in around 6300ft of water…
For the first time in 20 years, Norway's government is looking to include a new area in the Barents Sea in its next exploration licensing round. Blocks in the Barents Sea south-east have been included in consultation documents issued…
Results of the first well drilled in the Atlanta post-salt oil field off Brazil were better than operator Queiroz Galvão Exploração e Produção (QGEP) and its partners anticipated, according to an announcement the Brazilian company made Wednesday…
Energy production technology services company Proserv has bought KRG Industries Ltd from majority shareholder Torishima Pump Mfg. Co. Ltd, (Torishima) in Japan. KRG provides precision engineering services to the oil and gas and aerospace and defense industries…
Waves of progress. With several mega projects underway, OE asked: Can floating LNG be done economically on a smaller scale? The obvious answer is that we believe so, but it depends on the application. Wison Offshore & Marine sees smallerscale…
Shell has agreed to sell a 23% stake in the Parque das Conchas (BC-10) project, offshore Brazil, to Qatar Petroleum International, for about US$1 billion. Shell will continue to operate BC-10, with a 50% working interest, and retains a significant upstream presence in Brazil…
Statoil recently halted production on the Statfjord C platform off Norway after a “limited” oil leak in to the Norwegian Sea. No injuries were reported by the firm, but its 270 crewmembers were boarded lifeboats until the leak was identified and stopped…
Chinese oil firm CNOOC says it is planning to invest RMB 105 billion (US$17.35 billion) to 120 billion ($19.82 billion) on projects during 2014. Nexen Inc, bought by CNOOC in early 2013, will account for about 19% of the spending. Overall…
UK-based engineering and project management firm AMEC has said it has made a provisional offer to buy Switzerland-headquartered Foster Wheeler AG for US$3.2 billion.Foster Wheeler is an international engineering, construction and project management contractor…
GAC EnvironHull has launched HullWiper, a new innovation offering diver- free, cost effective and eco-friendly underwater hull cleaning. The compact, remotely-operated vessel cleaning vehicle is capable of cleaning up to 2000sq m of hull per hour without damage…
PTTEP and Pertamina agreed to form a 50:50 joint venture to buy Hess’ assets offshore Indonesia for US$1.3 billion. The companies will gain 75% stake in Pangkah field and 23% in the Natuna Sea A field. The Pangkah transaction will be finalized in Q1 2014…
Petrobras' partners in the BC-10 development, also known as Parque das Conchas, have finalized a buyout worth approximately US$1.6 billion for the Brazilian national's 35% interest in the project. Shell will pay $1 billion for its additional 23% interest…
Ceona's high-capacity flexible/umbilical pipelay and subsea construction vessel the Polar Onyx has been floated out of dry dock at Ulstein Verft yard in Norway following an intensive outfitting program. It has now moved to the shipyard quay…
Cairn India Ltd. today announced that its board of directors approved a proposal for the buyback of equity shares of the company from its existing shareholders. The buyback would be done from the open market through the stock exchanges…
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