National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement in advance of tomorrow’s Gulf of Mexico offshore oil and gas lease sale: 'This sale will be interesting due to low oil prices, which just dropped further this week…
For the 2014 financial year, VIKING Life-Saving Equipment A/S has again managed to lift both its top and bottom line to record levels. Turnover grew 7% to US$250 million, and pre-tax profits reached $26.5 million – an increase of 30%. VIKING’s…
A total of 42 offshore companies showed up to the Central Gulf of Mexico (GoM) Lease Sale 235 that drew in more than US$538 million in high bids for exploration and development in the area. Gulf of Mexico map…
Following up on last week's article on companies bracing for bankruptcies within the oil and gas industry, OE's Managing Editor Audrey Leon spoke with Charles Kelley and Robert Gray, Houston-based attorneys with law firm Mayer Brown to discuss the downturn in oil prices…
Rosneft sent North Atlantic Drilling Ltd. (NADL) a notice of termination for the West Navigator, in connection with a framework agreement between the two companies. The West Navigator. From NADL. The…
Newcaslte, England-based valve manufacturer BEL Valves is looking to set up a new £10 million subsea engineering facility for Newcastle’s Quayside. Plans for the 20,000sq ft Neptune Test Centre on the now derelict Spillers Tyne Mill site…
Cairn Energy is planning an up to six-well exploration campaign offshore Senegal, starting this year, after making potentially the largest global oil discovery in the country's waters last year. Image from Cairn…
An American data analytics and risk assessment firm based in Jersey City has bought Edinburgh, UK-based energy and mining industry analyst Wood Mackenzie. Verisk Analytics has agreed to buy the firm for US$2.8 billion from owners Hellman & Friedman and other Wood Mackenzie shareholders…
Singapore-based KrisEnergy is increasing its stake offshore Vietnam by taking over operatorship and all of Eni Vietnam’s interest. Map of Block 105. From KrisEnergy. Block 105 that covers 7192sq km at 20-80m water depth…
CNOOC Ltd. announced that its Qinhuangdao 32-6 comprehensive adjustment project has commenced production. The Qinhuangdao 32-6 oilfield is located at the central north of Bohai Bay with an average water depth of approximately 20m. The…
The recent downturn in oil prices is expected to have minimal direct impact on Gulf of Mexico (GOM) crude oil production through 2016 because of the long timelines associated with GOM projects, according to a new report by the US Energy Information Administration (EIA)…
Woodside Petroleum's proposed acquisition of Houston-based Apache's interests in the Wheatstone, Balnaves and Kitimat projects are moving forward after the Australian Competition and Consumer Commission (ACCC) announced that it will not oppose the deal…
Angus Rodger and Matt Howell discuss the exploration environment as well as the potential impact from the recent fall in oil prices on Australian and New Zealand projects. Graphs from Wood Mackenzie. Australia…
Statoil has agreed to buy stakes in production license 602, close to the Aasta Hansteen development project, in the Norwegian Sea from Norwegian exploration firm Rocksource and Faroese explorer Atlantic Petroleum. Statoil will take Rocksource’s 10% stake in PL602 and 2…
Oil and gas explorers must rethink their capital expenditure on exploration activity across the African continent in the wake of the significant drop in the global oil price, according to an analysis on the oil and gas industry in Africa released by PwC today (17 February)…
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