When the oil price drops, people want to know how long the decline will last and when it will go back up. Manouchehr Takin, a London-based international oil and energy consultant, tried to make sense of the economic side of low oil prices at yesterday’s SPE Offshore Europe breakfast briefing…
A high oil price has enabled operators to extend field life and delay decommissioning time and time again on the UK continental shelf (UKCS), however, the current low oil price has brought into stark relief that this cannot continue indefinitely concludes a new analysis by Wood Mackenzie…
Singapore’s Keppel Offshore & Marine has agreed to buy Cameron International’s offshore rig business for US$100 million, comprising of the LeTourneau jackup rig designs. Keppel says the LeTourneau suite of jackup rig designs have been…
Private equity backed Proserv Group has bought Aberdeen-based subsea acoustic positioning firm Nautronix. Employing 120 people, Nautronix is recognised for its through-water digital acoustic wireless communications and positioning systems…
Statoil has opted for Aptomar’s TCMS tactical collaboration and management system at the energy company’s field monitoring centre at Sandsli in Bergen, Norway. Under the contract, Aptomar will provide Statoil with TCMS (Tactical Collaboration and Management System) workstations…
Norway's official statistics organisation, Statistics Norway, has predicted that oil prices are set to remain low and only gradually increase to around US$60 in 2018. The organization said yesterday that low spending will also result in a drop in investment of almost 33% from 2013 to 2018…
The recent rise in domestic crude oil production from 5.6 MMb/d in 2009 to 8.7 MMb/d in 2014 and the prospect of continued supply growth have sparked interest in the question of how the relaxation or removal of current policies, which restrict…
Project services consultancy Cambla is set to release a new version of its state-of-the-art software, the Schedule Animation Tool (SAT), next week during its exhibit at SPE Offshore Europe. The technology has been developed to improve the accuracy…
An online information management system for the offshore decommissioning market has been launched by well management and performance improvement specialist, Exceed. The Aberdeen-based company has invested in excess of £300,000 in the development of iVISION…
Trelleborg Sealing Solutions has produced a new innovative seal for a 'ground-breaking' valve designed by Schoolhill Hydraulic Engineering for BP’s Shah Deniz field. The high-flow, high-integrity, safety critical subsea quick exhaust valve (QEV)…
Image: IWCF employees review FORUM/IWCF The International Well Control Forum (IWCF), the independent organization that sets international well control standards, has launched a new online administration system called “FORUM…
The Society of Petroleum Engineers Aberdeen's Young Professional Committee has launched an online survey to gather the opinions of students, graduates and young professionals about their preconceived ideas about the industry. The results…
Phases 15 & 16 of the massive offshore South Pars gas field are close to starting production, according to the project's manager. Reza Forouzesh said the phases are expected to come online by mid-October. Production from Phases 15 & 16 of the offshore South Pars…
Global management consultancy and services firm Accenture has agreed to acquire Schlumberger Business Consulting (SBC), Schlumberger's management consulting unit. Accenture says the acquisition will expand its capabilities in helping…
First oil has commenced from the Wassana oil field in the G10/48 concession in the Gulf of Thailand, operator KrisEnergy announced. Wassana is expected to achieve peak production of approximately 10,000 bo/d by year’s end. KrisEnergy…
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