Westwood Global Energy Group (WGEG) predicts to see stagnation in terms of dollar demand through to early next decade before signs of a recovery emerge. This is due primarily to the marked oversupply of equipment. Most critically, the newbuild offshore rig market (comprising jackups…
Neptune Energy signed a firm US$5.1 billion (€4.7 billion) offer with Engie for its 70% stake of Exploration & Production International (EPI). Image from Engie. The binding offer includes nearly $1…
BP has achieved first gas from two fields - Taurus and Libra - in the West Nile Delta (WND), offshore Egypt, eight months ahead of schedule. Image of West Nile Delta, from BP. “The…
A recent Wood Mackenzie survey finds that 80% of oil and gas operators expect oil prices to reach the US$50-$60/bbl range this year. Despite optimism over oil prices, survey respondents remain very cautious right now, with little appetite for risk…
Xvision Software has developed FieldAP, a 100% cloud-based technology for the energy industry providing offshore project managers with an online tool for visual field development, digital planning and cost containment. According to Xvision…
Oceanteam received written notice from its joint venture partner McDermott, in which McDermott has committed to purchase Oceanteam's remaining 25% stake in the vessel-owning company North Ocean 105 on 20 June 2017. This is in line with…
The massive, 600 MW Gemini offshore wind park has been opened offshore the Netherlands ahead of schedule and under budget. Gemini will produce 2.6 TWh of wind power every year, reducing the Netherlands’ CO2 emissions by 1.25 million tons…
Audrey Leon profiles the Thunder Horse field, speaking with project manager Steve Raymer about the BP-operated field’s most recent expansion project, which came in 11 months ahead of schedule and $150 million under budget. Loading…
Jerry Lee profiles the development of Brazil’s giant Lula field, offshore Rio de Janeiro. The FPSO Cidade de São Vicente was brought in to perform extended well tests on a Lula NE well in 2011…
Petrobras shared innovations and efficiency gains related to the Libra field at the Offshore Technology Conference (OTC) in Houston. Petrobras says collaboration between Libra area partners has produced a US$13/bbl reduction to the project's breakeven price…
The oilfield service (OFS) industry can, at times, be intimidating in its complexity and depth. Furthermore, mega-mergers (e.g. GE – Baker, Technip – FMC, Wood Group – Amec Foster Wheeler) have created a supply chain that no-longer has homogenous…
Wood Mackenzie’s Caitlin Shaw provides perspective on the subsea market and how the industry will redefine a “good” year. An illustration of the Mad Dog Phase 2 development in the Gulf of Mexico…
Wintershall has started production from its first-ever operated Danish oil field, the Ravn field in the North Sea. The Ravn platfrom. Image from Wintershall. Ravn is in Block 5/06 in the Danish North Sea…
First Marine Solutions (FMS) has signed an official alliance with Interocean Marine Services (a Rigmar Group company) combining their equipment and technical capabilities to offer enhanced integrated mooring solutions. Both companies…
Even though the downturn has changed many operator’s initial plans, subsea tiebacks have emerged as the economical way to develop many Gulf of Mexico fields. Karen Boman reports. The North Ocean 105 lay vessel…
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