Marine Contracting has opened an Australian office in Perth to service the Australian offshore market. The company will also open a new yard to house its offshore equipment in Karratha. Key services that Marine Contracting will provide include permanent mooring and riser installations…
UK North Sea production is expected to remain flat in 2014, marking the first time in 15 years the industry has not seen a production decline in the basin. Production declines on the UK Continental Shelf had been steadily dropping at a rate of 7-8% per year…
Current pressures on oil majors due to low oil prices and a heated market should not be allowed to turn into another crisis, a top ExxonMobil executive told SPE Annual Technology Conference in Amsterdam today (27 October). Image of Neil Duffin…
ConocoPhillips kicked-off the drilling campaign on its Eldfisk II project with Maersk Innovator. Five wells have been pre-drilled, and the drilling operations of the remaining 35 wells has now begun. Eldfisk II is one of four fields that comprise the Greater Ekofisk Area…
Uncertainty, high costs and low exploration rates are continuing to hamper the North Sea, according to a report published today (10 October). Business advisory firm Deloitte’s Petroleum Services Group’s report says that exploration rates remain low…
BP is due to restart production at the high-pressure, high-temperature (HPHT) Rhum gas field in the UK North Sea, four years after the field was shut in due to Western sanctions against its 50% owner, Iran. A BP spokesperson said today that production was due to restart soon…
Petrobras has begun production from FPSO Cidade de Mangaratiba, located in Block BM-S-11 of the giant Lula field. The start-up represents the first in the Iracema Sul area of the presalt Santos basin, located 300km off the coasts of the Rio de Janeiro and São Paulo states…
US-based Endeavour International is seeking bankruptcy protection after agreeing a restructuring agreement with some creditors. The company’s debt totals about US$1.2 billion, according to Chapter 11 papers filed in US Bankruptcy Court in Wilmington…
Malaysian state-owned oil firm Petronas has bought Statoil’s stakes in the BP-operated Shah Deniz project from Norway’s Statoil for US$2.25 billion. Statoil says the move, which sees it exit the Shah Deniz project, is part of its portfolio management…
UK exploration independent Enegi says the Phoenix discovery in the central North Sea is a viable candidate for its marginal field initiative. Phoenix, in Block 22/12b, was operated by Apache. In 2010, Apache, drilled the 22/12a-12 appraisal well…
New York-based NEAH Global Energy Solutions (GES) USA Inc. announced its intention to acquire English maritime security specialist Graspan Frankton Maritime Ltd. Graspan Frankton is based in Newcastle upon Tyne and offers maritime security courses and services…
The Minister of the Environment and Housing announced that a new Petroleum Act and a suite of regulations to guide and govern oil exploration in The Bahamas has been completed and is now to be placed before the House. Map from Bahamas Petroleum…
Sevan Drilling and Cosco (Qidong) Offshore have agreed to extend a standstill agreement over the building of the deepwater, cylindrical drillship Sevan Developer to 4Q. The move, which follows an initial standstill agreement, made on September 22…
The UK offshore-focused subsidiary of Hungarian integrated energy company MOL has announced the completion of its senior management team, based in the Aberdeen. The creation of MOL Energy UK was announced in March this year. Since then…
FoundOcean and Ranger Offshore Inc. signed a strategic agreement this month, formalizing a relationship that has previously developed between the two companies. FoundOcean, Ranger Offshore combine…
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