The recently introduced 4-stroke diesel engine, Wärtsilä 31, has been selected to power a new generation icebreaker currently under construction at the PJSC Vyborg Shipyard. The ship is being built on behalf of FSUE Atomflot, the enterprise of ROSATOM…
London-listed oil and gas industry service provider Petrofac is facing legal action from a Chinese yard after terminating a construction contract for its newbuild JSD 6000 deepwater multi-purpose offshore vessel. Petrofac says the termination…
Petrobras has further revised down its investment plans for 2015 and 2016, opting to cut US$3 billion in spending in 2015, and $8 billion in 2016, the Brazilian state-owned firm announced on 5 October. In June, embattled operator approved a new five-year investment plan for 2015-2019…
Phoenix, Arizona-based minerals company Freeport-McMoRan (FCX) may be done with its foray into the oil and gas sector, nearly three years after the journey began. On Tuesday, the company announced that in consideration of spinning off its oil and gas business…
Arctic drilling has made headlines since the announcement of Shell’s 2015 summer drilling campaign. Paired with the low oil prices due to a surplus of supply, many people wonder why we even need to drill in the Arctic when there is so much oil right now…
Nominations have opened for the 2016 Subsea UK Awards. Now in its 10th year, the awards seek to recognise companies and individuals who are leading the way in Britain’s successful £9billion subsea sector. Entries are being sought for the best subsea company of the year (large and small)…
In response to the decline in crude oil prices since mid-2014, the number of active offshore rigs has declined worldwide, dropping close to 20%, says the US Energy Information Administration (EIA). There were 304 offshore rigs operating in August 2015…
When the oil price drops, people want to know how long the decline will last and when it will go back to “normal.” Audrey Leon reports on how market watchers and researchers tried to make sense of the downturn at this year’s SPE Offshore Europe conference…
Most of the building blocks are in place for the all-subsea solution. But do they offer an attractive proposition? Elaine Maslin looks at DNV GL’s current thinking. Operations during the Åsgard…
Statoil's US$2.34 billion Asgard subsea gas compression project came onstream last week as the world's first subsea gas compression facility 300m below the surface of the Norwegian Sea. In this illustrated video, the Norwegian giant shows the installation and how it will work…
Sustained low oil prices could lead to a long-term drop in upstream oil and natural gas investment, according to a new report by the US Energy Information Administration. “Given the fall in oil prices that began in mid-2014 and the relationship between oil prices and upstream investment…
Some 140 fields could cease production on the UK Continental Shelf over the next five years, according to research by analysts Wood Mackenzie. The firm says high oil prices have enabled North Sea operators to extend field life and delay decommissioning time and time again…
Stork successfully installed Emerson Process Management’s Roxar SandLog wireless sand erosion monitoring solutions on a major North Sea operator’s installation. The collaboration with Stork marks the first installation of the Roxar…
At 300m below the surface of the Norwegian Sea, the world’s first subsea gas compression facility has come on stream, Statoil announced this morning. The NOK 19 billion (US$2.34 billion) Åsgard subsea gas compression project, known as project Nemo to some internally…
Origin Energy’s BassGas production has exceeded 60 TJ/d following the Yolla-5 development well coming online offshore Australia, according to partner AWE Ltd. Image of BassGas. From Origin. The…
Subscribe
