A three phase asset management strategy could help counter costs, says ABB’s Will Leonard. In mid-December, the price of oil fell further after the International Energy Agency (IEA) forecast weaker demand in 2015. Brent crude fell to around US$60 a barrel…
Voluntary oil production cuts to support oil prices have been ruled out in favor of a brutal process of natural selection to correct the market. The most efficient producers will be left standing as growth slows and companies cut capital budgets and reduce headcounts…
With oil prices depressed, Greg Hale argues that automation could make a much needed difference in the offshore industry. The scenario is set and it is time for everything to play out: automation can come to the rescue of the offshore oil and gas industry…
Kuwait Petroleum Corp.'s (KPC) CEO today said the company would be increasing output, a move he says will put pressure on deepwater projects as well as the likes of onshore oil sands and expensive unconventional projects. Nizar Al-Adsani said the market…
North-east England subsea vehicle specialists Specialist Machine Developments (SMD) is to be taken over by a Chinese corporation. Zhuzhou CSR Times Electric Co., which specializes in mass transit electric drive converter and control systems…
Outland Technology (Outland) has come out with a new underwater HD Camera, model UWC-625. The UWC-625 comes standard with an XSK-5-BCL, allowing it to run on all existing Outland cables still out in the field, and can transmits HD 1080P over standard Outland coax cable…
Teledyne Technologies has acquired Aberdeen-based Bowtech Products through its UK-based subsidiary. Bowtech designs and manufactures harsh underwater environment vision systems. Founded in 1989, Bowtech is a leading supplier of rugged…
Oil and gas industry sentiment in the UK plunged dramatically in Q4 2014, according to the results of a survey published today. Oil & Gas UK’s Business Sentiment Survey says optimism in the oil and gas industry fell 16 points to -23 points on a -50/+50 scale…
Orderbooks reflect reined-in spending based on conservative near-term oil price estimates. ABS’ James Graf sets out the detail. MODU new construction projects through 4Q/14. Source: ABS. Weak demand…
Trelleborg Sealing Solutions’ (Trelleborg) new website, the Knowledge Center, will showcase best practice in sealing technology and aim to bridge the gap between design engineers’ needs and standard technology documentation, bringing useful information together as part of one digital portal…
EMAS AMC's flagship ice-classed, DP3 multi-lay construction vessel Lewek Constellation is on track to turn fully operational by March 2015. The vessel, which has heavy lift capabilities, has already secured a backlog of nearly US$0.5 billion…
New York-headquartered Hess says it is cutting its 2015 capital and exploration budget by 16%, compared to 2014, to US$4.7 billion. While the firm said most of the cash (45%/$2.1 billion) would be spent on its unconventional shale resources…
Danish engineering house Ramboll Oil & Gas is to perform detailed design work for the two jackets for Maersk Oil's ultra-high-pressure, high-temperature (HPHT) UK North Sea Culzean field. The jackets are for a central processing facility…
Independent oil firm Premier Oil is sticking to an eight-well exploration campaign in 2015, including its four-well campaign in the Falkland Islands, due to start in March, and its first well in the emerging Mandal High play offshore Norway…
A new oilfield consultancy has been launched by GE Oil & Gas and McDermott International to “transform the development of front-end solutions for offshore fields.” Io oil & gas consulting, deliberately spelled without capital letters by the firms…
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