Neil Gordon, chief executive of Subsea UK. When looking at oil price trends over the years since the 1920s, it becomes apparent that apart from the cyclical spikes every few years…
Mermaid Maritime is at the chopping block again with China Merchants Industry, as the Thai company axes an additional two newbuild contracts with the shipbuilder. Illustration of the MTR-3 rig…
Houston's Vaalco Energy is back online at the South Tchibala 2-H well after utilizing a hydraulic workover unit to replace a failed electrical submersible pump (ESP) system, offshore Gabon. Image from Vaalco…
BW Offshore and the BW Group entered into agreement to acquire 66.67% of the Dussafu production sharing contract offshore Gabon. Subject to closing of this first transaction, the partnership has secured a right to acquire a further 25% of the Dussafu license…
Statoil’s Troll B has produced 1 billion boe since coming onstream two decades ago, with a further eight to 10 years of oil production expected, the Norwegian giant revealed today. Image of Troll B…
US deepwater player Anadarko has completed a deal to buy Freeport-McMoRan Oil & Gas deepwater Gulf of Mexico assets and announced two new Gulf of Mexico finds: Warrior and Phobos. Anadarko said the two finds highlighted the value of its…
First oil has been achieved from Shell's deepwater Malikai field, offshore Sabah, Malaysia. The project is Shell's second deepwater project offshore Malaysia, and its first tension leg platform (TLP) in the country, following Gumusut-Kakap…
As OE takes a look back on the year that was 2016, our website's most popular stories pretty much tell everything you need to know. It has been a depressing year for the industry with too many job cut announcements, rigs and vessel stacked (or sold)…
Swiss multinational commodity trading group Glencore has confirmed it is in the final stages of negotiations over buying a 19.5% stake in state-owned Russian oil firm Rosneft. The acquisition would be as part of a consortium with the…
More than 70% of Chevron's US$19.8 billion 2017 planned upstream investment will generate production within two years, the firm said yesterday. Chevron says it is targeting shorter-cycle, high-return investments with its 2017 capital budget…
Aker Solutions completed the acquisition of 70% of Brazilian CSE Mecânica e Instrumentação Ltda. The agreement includes an option for Aker Solutions to purchase the remaining 30% of the company three years from now. The acquisition…
2016 has been a year of challenges for the oil and gas industry. Audrey Leon surveys some of the year’s notable starts. Shell’s Stones project came online in September 2016, using the Gulf of Mexico’s second ever FPSO…
BP has agreed to buy a 10% interest in the Shorouk concession offshore Egypt, containing the super-giant Zohr gas field, for US$375 million. As part of the deal with Eni, BP will also reimburse Eni for BP’s share of past expenditure…
Italy's Fincantieri has offered to buy out all the shares in shipbuilder Vard. Shipbuilding group Fincantieri, which is listed in Italy and is currently the majority shareholder in Vard, with 55.63% of shares, is offering S$0.24 a share in cash for Vard…
In this video, Chevron shows the process it took for its Alder HPHT field to reach first gas, 41 years after in was discovered. Chevron’s high-pressure, high-temperature (HPHT) gas condensate Alder field in the Central North Sea started production this week…
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