In recent years, the speed with which newbuild vessels have entered the market has amplified the subsea vessel demand/supply imbalance. This has been further exacerbated by sustained low oil prices, as operators defer the sanctioning…
BP’s five-year plan has revealed the next wave of its competitive projects with potential new final investment decisions (FID), a list of several offshore projects set to come online this year, and eight projects that are currently under construction set for start-up in 2018-2021…
Audrey Leon chats with Schlumberger, Baker Hughes and Weatherford to learn about the latest technologies available for artificial lift. Dedicated Schlumberger surveillance engineers monitor alarms to prevent or mitigate adverse events…
Ocean Rig has reached a US$25 million settlement agreement with Premier Oil and Noble Energy over disputed invoices for the Eirik Raude semisubmersible. Image of the Eirik Raude, from Ocean Rig…
Anadarko had to shut-in production at two of its operated facilities last week, following a fatal fire at the onshore Phillips 66 Partners Paradis Pipeline Station west of New Orleans, Louisiana. Image of Heidelberg…
Anadarko has its eyes set on Colombia, announcing further drilling plans in the Purple Angel block, and opportunities it has identified through the Esmeralda 3D seismic survey in the area. Map of Gorgon…
Apache’s FNT development may appear a bit “vanilla” on the surface, but a fit-for purpose and fast-to-first-oil ethos under the Apache Projects Group Mission Command management system meant the difference between production and stranded reserves…
Newly formed subsea firm M² Subsea has opened its new office in Aberdeen and created 30 jobs. The business, which secured private equity investment towards the end of 2016, has moved people and equipment into premises in Arnhall Business Park at Westhill in Aberdeenshire…
Kerogen Capital plans to commit up to US$300 million to back Pandion Energy, as the company pursues exploration, appraisal and development opportunities on the Norwegian Continental Shelf (NCS) through acquisitions, farm ins and licensing rounds…
Norwegian outfit Borr Drilling has taken delivery of the Frigg (formerly Hercules Resilience) and the Ran (formerly Hercules Triumph) jackup drilling rigs from Hercules Offshore. The two rigs, bought for US$130 million late last year…
Chevron posted total earnings of US$415 million for Q4 2016, however, posted a loss for full-year 2016 that the US supermajor says were due to the low oil prices. Image from Chevron. Chevron’s Q4 2016 earnings reflected a gain…
Vaalco Energy reported strong Q4 and full year 2016 production results. Image from Vaalco. Production for Q4 2016 averaged approximately boe/d, above the previously provided guidance range of 3300-3600 boe/d…
The Thunder Horse South Expansion project, in the deepwater Gulf of Mexico, has started up 11 months ahead of schedule, supermajor BP announced today (23 January). Illustration of the expansion at Thunder Horse…
W&T Offshore has received approval for a capex of US$125 million that will set up the Houston-based company to drill six to eight wells in the Gulf of Mexico this year, with its priority going to its Mahogany field. Image from iStock…
Global Energy Development (GED) has entered into two share purchase agreements to acquire a total of 11 offshore subsea service vessels, and a barge vessel, as it seeks to adopt a new business strategy focusing on the subsea oilfield services sector…
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