Neil Gordon, chief executive of Subsea UK. When looking at oil price trends over the years since the 1920s, it becomes apparent that apart from the cyclical spikes every few years…
Houston's Vaalco Energy is back online at the South Tchibala 2-H well after utilizing a hydraulic workover unit to replace a failed electrical submersible pump (ESP) system, offshore Gabon. Image from Vaalco…
US deepwater player Anadarko has completed a deal to buy Freeport-McMoRan Oil & Gas deepwater Gulf of Mexico assets and announced two new Gulf of Mexico finds: Warrior and Phobos. Anadarko said the two finds highlighted the value of its…
First oil has been achieved from Shell's deepwater Malikai field, offshore Sabah, Malaysia. The project is Shell's second deepwater project offshore Malaysia, and its first tension leg platform (TLP) in the country, following Gumusut-Kakap…
More than 70% of Chevron's US$19.8 billion 2017 planned upstream investment will generate production within two years, the firm said yesterday. Chevron says it is targeting shorter-cycle, high-return investments with its 2017 capital budget…
The Organization of the Petroleum Exporting Countries (OPEC) has confirmed its decision to implement a new OPEC-14 production target of 32.5 MMb/d effective 1 January 2017 to accelerate the ongoing drawdown of the stock overhang and bring the oil market rebalancing forward…
Statoil has made an oil and gas discovery at the Njord North Flank in the Norwegian Sea that could potentially hold up to 28.3 MMboe, according to partner Faroe Petroleum. The Songa Delta, from Songa Offshore…
Australian energy giant Woodside will acquire half of BHP Billiton’s Scarborough gas assets in the Carnarvon Basin, offshore Western Australia. Woodside will pay US$250 million on completion of the transaction and a contingent payment…
Transocean's Transocean Winner semisubmersible drilling rig, which ran aground on a Scottish Island more than two weeks ago, is now under tow to safer waters. The rig was refloated from Dalmore Bay, on west coast of the Isle of Lewis…
Noble Energy has been named the successor operator of the Thunder Hawk production facility, according to the company’s Q2 2016 report. Scant on details, Noble did confirm that the deal is expected to become effective within Q3 2016, subject to regulatory approval…
Cost reduction measures continue at Fugro, as the company plans to further reduce its workforce and fleet in the remainder of 2016. Image from Fugro. During 1H 2016, Fugro cut its headcount by 585…
Teekay Offshore is to take a hit of US$43.7 million after cancelling construction contracts for two flotels, described by Teekay as units for maintenance and safety (UMS). The firm also says it suffered a drop in income due to its Arendal…
Tullow Oil's TEN floating production project offshore Ghana is on schedule for first oil within the next three to six weeks, the firm announced this morning. Tullow says the project, which is also within budget, is over 96% complete…
Searcher Seismic, with project partner BGP, has completed the acquisition of two new multi-client seismic surveys offshore Norway and offshore Western Australia. Map of Silver-Eye 3D, Bilby 2D…
Riyaz Ali from Emerson Process Management describes the problems and possible solutions for testing the final control element of Safety Instrumented Function loops. Accidents in process industries have created concern as to whether functional safety protects personnel…
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