ExxonMobil has started oil production at its US$4 billion Julia oil field in the Gulf of Mexico with the first production well currently online, and a second well set to start production in the coming weeks, the supermajor announced. Image…
Tidal energy firm Atlantis is looking to form a joint venture to develop a 150MW tidal stream site off Indonesia. The firm is joining forces with SBS, a privately owned international marine, subsea and renewable energy developer, which…
Centrica plc will reduce its workforce by 3000 jobs this year, with the first 800 jobs to be cut in the first three months, in efforts to cut costs by more than US$1 billion (£750 million) per year. The job cuts are most likely to hit British Gas…
Independent Oil and Gas (IOG) is planning to submit a field development plan for the southern North Sea Blythe field and nearby discoveries. The move is likely to involve a small unmanned platform, with pre-installed risers for future tie-back opportunities…
Norwegian independent Det Norske has agreed to buy Centrica Resources Norge's operated stakes in the Frigg Gamma Delta and Rind discoveries in the Norwegian sector of the North Sea. Subject to the deal being agreed by regulatory authorities…
Statoil has cut its average project cost per barrel from US$70/bbl to around $40/bbl, but the work has just started and the changes need to be permanent, even if prices increase, CEO Eldar Sætre said this morning. Speaking at the Subsea Valley conference in Oslo…
The future of oil and gas technology looks increasingly automated, digital and smarter according to a new technology outlook report published by DNV GL. Image from DNV GL. The…
All eyes will be on the current and future potential of Mexico’s oil and gas industry at the 22nd annual Petroleum Exhibition & Conference of Mexico (PECOM),taking place 5-7 April in Villahermosa, Tabasco. PECOM 2015 exhibit floor…
Italian major Eni has found what could be the biggest gas deposit in the Mediterranean and the company is eager to develop it. Jerry Lee reports. Egypt Nile Delta. The Zohr discovery, in the Shorouk block…
After many years of decline, production of petroleum and other liquids in the United Kingdom (UK) increased by about 100,000 b/d in 2015, according to the US Energy Information Administration (EIA). The largest contribution to this…
William Jacob Management Inc. (WJM) has secured its initial contract to complete the detailed engineering and design of its first mobile offshore support services vessel: the MOSS V. Illustration of the MOSS V…
New Zealand is offering four offshore blocks in its 2016 block offer petroleum tender. 2016 block offer map, from New Zeland Petroleum & Minerals. The four offshore release areas have a total acreage of 525…
UK-based independent has now cut US$425 million off its North Sea Kraken heavy oil development budget as it looks to continue reining in costs. After initially shaving $300 million, or about 10%, off the project's original $3.2 billion costs…
The Norwegian Petroleum Directorate (NPD) has granted Wintershall a drilling permit for wildcat well 35/8-6 S, in block 35/8 of production license 248. Well 35/8-6 S will be drilled from the Borgland Dolphin drilling facility, a semisubmersible…
US supermajor Chevron is set to shave its budget by as much as 36% by next year, as the company approaches the finish line for global construction projects, and sets its sights on increasing production. Jack/St…
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