Statoil ended a joint license agreement with Bahamas Petroleum. Bahamas Petroleum says Statoil is dropping its involvement in the agreement following its exploration successes elsewhere and a subsequent review of its global portfolio…
Fundy Tidal Inc.'s turbine project in the Bay of Fundy, off Nova Scotia. www.fundytidal.com
UK-based engineering and project management firm AMEC has said it has made a provisional offer to buy Switzerland-headquartered Foster Wheeler AG for US$3.2 billion.Foster Wheeler is an international engineering, construction and project management contractor…
Twenty-one companies have dropped out of the final cycle of bidding in the Myanmar offshore license round. The licensing round offers 30 offshore areas, including 19 deepwater blocks. These blocks are predominantly in the Rakhine Offshore Area (12 blocks)…
PTTEP and Pertamina agreed to form a 50:50 joint venture to buy Hess’ assets offshore Indonesia for US$1.3 billion. The companies will gain 75% stake in Pangkah field and 23% in the Natuna Sea A field. The Pangkah transaction will be finalized in Q1 2014…
EV launched its Optis HD Electric line camera, which provides vital diagnosis to the well intervention market. It has the capacity to stream color video at a maximum of 25 frames per second. The new camera features improve speeds and picture…
Schlumberger released the Vx Spectra surface multiphase flowmeter, which enables operators to obtain flow rate measurements in production testing and permanent monitoring. The Vx Spectra 19mm monitors low-rate producing wells down to 30 b/d…
Emerson creates new reservoir modeling software Emerson Process Management released Roxar RMS 2013, the latest version of its reservoir modeling software. RMS 2013 includes model-driven interpretation capabilities and new solutions for seismic…
The Statoil-operated Peregrino field, one of Brazil’s most significant offshore producers, is a wealth of resources, including Norwegian- developed technology. Sarah Parker Musarra chatted with Statoil Brazil Country President Thore E. Kristiansen…
Wood Mackenzie’s annual UK upstream oil and gas review concluded that 2013 was a mixed year for the industry.Capital investment continued to increase, however, this was set against the backdrop of project delays, production underperformance and poor exploration success…
Brazilian independent HRT Participacoes em Petroleo SA acquired a 60% working interest and the operatorship stake in the Polvo field from BP Energy do Brasil Ltda, following the Jan. 8 close on a deal worth US$101 million.In the transaction…
US shale oil production will not be a threat to deepwater oil and gas development, an analyst has said today. Steven Kopits, working with Douglas-Westwood in New York, says many investment banks and government agencies have forecast that…
Repeated boughts of bad weather around the UK have caused disruption to offshore oil and gas operations in the North Sea. Endeavour International Corporationsaid today that, due to the continued periods of bad weather, timing of first production from second production well…
Petrobras' partners in the BC-10 development, also known as Parque das Conchas, have finalized a buyout worth approximately US$1.6 billion for the Brazilian national's 35% interest in the project. Shell will pay $1 billion for its additional 23% interest…
After Norwegian Energy Company ASA (Noreco) announced that the Siri would not return online until Q2 2014, the Danish Energy Agency approved a temporary production solution to allow for a Q1 2014 restart. Siri, wholly-owned by operator DONG Energy…
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