Oil & Gas UK has launched new guidelines, aimed at simplifying subsea developments. Realizing the potential of the North Sea’s “small pool” reserves could be helped by its guidelines, Oil & Gas UK says. The launch follows a call…
Supermajor Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to US$3.8 billon. The packaged deal consists of Shell's interest in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster…
Vaalco Energy reported strong Q4 and full year 2016 production results. Image from Vaalco. Production for Q4 2016 averaged approximately boe/d, above the previously provided guidance range of 3300-3600 boe/d…
The Thunder Horse South Expansion project, in the deepwater Gulf of Mexico, has started up 11 months ahead of schedule, supermajor BP announced today (23 January). Illustration of the expansion at Thunder Horse…
W&T Offshore has received approval for a capex of US$125 million that will set up the Houston-based company to drill six to eight wells in the Gulf of Mexico this year, with its priority going to its Mahogany field. Image from iStock…
Hess Corp. posted a US$4.9 billion net loss in Q4, as the company moves forward to focus on its developments offshore Thailand and in the Gulf of Mexico, which are expected to contribute significant production and cash flow. The…
Global Energy Development (GED) has entered into two share purchase agreements to acquire a total of 11 offshore subsea service vessels, and a barge vessel, as it seeks to adopt a new business strategy focusing on the subsea oilfield services sector…
Stabilizing oil prices have prompted producers to return to both shale and offshore projects, but the industry still needs to cut costs. A new workforce program offered by the University of Houston (UH) focuses on helping oil and gas…
McDermott will exercise its option to purchase Oceanteam’s 25% ownership in the vessel-owning company North Ocean 105 AS by the end of April 2017, according to joint venture partner Oceanteam. Under McDermott’s main credit facility agreement…
Houston-based Vaalco Energy restarted production at the Avouma 2-H well on the Avouma platform, offshore Gabon, after utilizing a hydraulic workover unit to replace a failed electric submersible pump (ESP) system. Gabon drill floor operations…
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…
Short-term production from the BP-led Azerbaijan’s Azeri-Chirag-Gunashli (ACG) project in the Caspian Sea is expected to be flat, and contain gas rather than oil, according to a new analysis from Douglas-Westwood (DW). ACG…
Austrian operator OMV is restarting production from the Maari/Manaia wellhead platform, offshore New Zealand, in which a crack was found late last year. A temporary repair has been made and now OMV, with advisors AMOG and Worley Parsons…
The first offshore facilities to be decommissioned in Great Yarmouth on the east coast of England are due to start arriving in Spring this year. A partnership between Veolia and Peterson partnership has been awarded two platform decommissioning…
Heerema Marine Contractors (HMC) has chosen Emerson Automation Solutions to provide a valve remote control (VRC) system for a semisubmersible offshore crane vessel, SSCV Sleipnir, currently under construction at Sembcorp Marine’s shipyard in Singapore…
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