Calgary-based Sterling Resources issued its 1Q results today, reporting US$20.5million revenue attributable to production from the Breagh gas field in the UK North Sea, and expenses of $2.6 million during the quarter. The average expected…
The Intervention & Coiled Tubing Association’s European Chapter (ICoTA) will examine the role of wireless communication technology and its benefits in well intervention at its next lunch and learn session on 20 May. The presentation,…
A third well is now producing in the Sapinhoá field, Petrobras announced, in keeping with the target date given when its preceding well was brought onstream in February. Well 7-SPH-04-SPS, which lays in 2120m of water on Block BM-S-9 of the Santos basin presalt region…
MAN compressor installed offshore MAN Diesel & Turbo in Zurich was awarded a contract to deliver a HOFIM (high-speed, oil-free, integrated motor) compressor to Det norske oljeselskap ASA. It is MAN’s first hermetically-sealed compressor to be installed on an offshore production platform…
Norwegian oil services technology firm Cubility AS has been bought from private equity firm Energy Ventures by a Triton Partners fund. The firm, based in Sandnes, has developed MudCube, a solids control and waste management system for drilling operations…
Middle East rig builder Lamprell has moved into the black, posting a profit. But, the firm warned that recent new order intake means 2014 and 2015 revenues could be lower than expected. The Dubai-based firm, which initiated a strategic review and appointed a new CEO and CFO last year…
Austrian integrated energy firm OMV has boosted its UK west of Shetland holdings after agreeing to buy four licenses in the area from Hess, including the Cambo field and the Blackrock prospect, for US$50 million. Depending on future developments…
Some 5Tcf of natural gas reserves are sitting undeveloped in the Southern North Sea, an event on the basin heard today (5 March). John Westwood, of industry analysts Douglas Westwood, was speaking at the Southern North Sea 2014 conference in Norwich…
Denmark’s Maersk Drilling has posted a 52% jump in profits for 2013, at US$528 million, but warned that there will be challenges in 2014 as it sees a drop in deepwater demand and a major overhaul of its fleet. Claus V. Hemmingsen…
How to increase exploration drilling rates on the UK Continental Shelf forms the largest section in today’s Wood Review report (see http://www.oedigital.com/component/k2/item/5082-all-eyes-on-north-sea-oil for more). Better seismic, data sharing…
Oil & Gas UK has underlined calls for a need to change how the UK North Sea oil and gas industry is managed by warning that exploration in the basin is facing its biggest challenge in 50 years and that capital spending is expected to halve by 2016-17…
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…
Petrobras announced that its total oil and natural gas production in Brazil in December 2013, was 2.362MMboe/d, up 0.8% on the 2.342MMboe/d extracted in November. Oil production averaged 1.964MMbpd, up 0.4% on November's production of 1.957MMbpd…
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…
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…
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