Trelleborg Sealing Solutions’ (Trelleborg) new website, the Knowledge Center, will showcase best practice in sealing technology and aim to bridge the gap between design engineers’ needs and standard technology documentation, bringing useful information together as part of one digital portal…
New York-headquartered Hess says it is cutting its 2015 capital and exploration budget by 16%, compared to 2014, to US$4.7 billion. While the firm said most of the cash (45%/$2.1 billion) would be spent on its unconventional shale resources…
French vessel operator Bourbon has commissioned three new next-generation heavy duty work ROVs (remote operated vehicles) designed by FMC Technologies Schilling Robotics. Capable of operating at depths of up to 3000m, the units will be deployed on multi-purpose support vessels (MPSV)…
Independent oil firm Premier Oil is sticking to an eight-well exploration campaign in 2015, including its four-well campaign in the Falkland Islands, due to start in March, and its first well in the emerging Mandal High play offshore Norway…
A new oilfield consultancy has been launched by GE Oil & Gas and McDermott International to “transform the development of front-end solutions for offshore fields.” Io oil & gas consulting, deliberately spelled without capital letters by the firms…
Belgian dredging, engineering and environmental group DEME has ordered two new vessels to serve the offshore energy market. Shipyards La Naval in Spain and Uljanik in Croatia will build the multipurpose vessel Living Stone and the self-propelled jackup Apollo…
Companies in the deepwater drilling market have lost more than half of their value over the last year; Transocean, Seadrill, ENSCO and Diamond Offshore are currently priced 56% lower on average compared to January 2014 in line with the decrease in oil prices…
Deloitte’s Petroleum Services Group’s latest North West Europe Review has revealed a drop in drilling, deals and new field start-ups in 2014. Deloitte says the drop in drilling was consistent with expectations, given recent trends and market conditions…
UK North Sea industry body Oil & Gas UK has said called on the UK Government to abolish a 30% charge on oil and gas producers as oil fell to its lowest prices in nearly six years. The body says oil and gas producers in the basin are unable to cover their costs at US$50 a barrel…
A selection of the country’s most innovative, dynamic and successful subsea businesses have made it on to the final shortlist for the annual Subsea UK Awards. The gala event, on 11 February at the Aberdeen Exhibition and Conference Centre…
McDermott International obtained a contract to install the offshore jacket, deck and piles for the Ayatsil-A drilling platform for Pemex Exploracion y Produccion in the Bay of Campeche Ayatsil field. Ayatsil…
First oil production has started from ConocoPhillips Eldfisk II project in the Norwegian North Sea. The Eldfisk II project includes plans to drill 40 new production and water injection wells from the new Eldfisk 2/7 S platform. One of four pre-drilled wells is currently online…
As oil prices move ever lower, Wood Mackenzie assessed at what price the operating cash flow from producing oil fields turns negative. Negative operating cash flow can be an immediate brake on production. While Wood Mackenzie does not think this floor will necessarily be triggered…
GlobalData’s Adrian Lara sheds light on the kinds of deepwater projects expected to advance while the price of oil continues to fall. Engineers from Jumbo Maritime deliver 25 MOF caissons for the…
Since June 2014, the oil price has been on a downward spiral. The price of West Texas Intermediate (WTI), a key global oil price benchmark, has more than halved and fell below US$50/barrel for the first time in 5.5 years yesterday (5 January)…
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