Repsol has been given the green light to remove the Petrojarl Varg floating production unit and related subsea structures from the Varg field offshore Norway. The Varg oil field is in the North Sea, about 220km south-west of Utsira in Rogaland county…
Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April…
Quest Offshore assesses the drilling, subsea, and marine construction dynamics affecting of one of the world’s pre-eminent deepwater basins amid the downturn. The Gulf of Mexico has long been a region of critical importance to the global deepwater industry…
Siemens has received an order for the supply, installation, and commissioning of 60 direct-drive offshore wind turbines, each with a capacity of 6MW. The customer for the project is a consortium between the German power provider E.ON, based in Essen…
Norwegian independent Det Norske has agreed to buy Centrica Resources Norge's operated stakes in the Frigg Gamma Delta and Rind discoveries in the Norwegian sector of the North Sea. Subject to the deal being agreed by regulatory authorities…
ExxonMobil has started oil production at its US$4 billion Julia oil field in the Gulf of Mexico with the first production well currently online, and a second well set to start production in the coming weeks, the supermajor announced. Image…
Oil services giant Schlumberger has laid off 2000 employees as the company reports one of its steepest revenue declines since the downturn began, citing global activity decline and disruption that has reached unprecedented levels. Image…
Cox Oil Offshore has acquired a number of assets in the Gulf of Mexico from Chevron. The acquisition includes 19 fields and associated assets primarily on the Gulf of Mexico Outer Continental Shelf and in Louisiana state waters. “Today’s…
Some 65 MMboe will be left untapped offshore Norway due to the early shut down of fields and the failure of the Vette project to meet economic margins, according to a report by the International Energy Agency (IEA). The IEA's April Oil…
Statoil has cut its average project cost per barrel from US$70/bbl to around $40/bbl, but the work has just started and the changes need to be permanent, even if prices increase, CEO Eldar Sætre said this morning. Speaking at the Subsea Valley conference in Oslo…
After many years of decline, production of petroleum and other liquids in the United Kingdom (UK) increased by about 100,000 b/d in 2015, according to the US Energy Information Administration (EIA). The largest contribution to this…
UK-based well examination services firm Chris Dykes International has been acquired by Danish well management company WellPerform. Established by Chris Dykes in 2002, following a career with oil majors and the UK's Health and Safety Executive…
Italian major Eni has found what could be the biggest gas deposit in the Mediterranean and the company is eager to develop it. Jerry Lee reports. Egypt Nile Delta. The Zohr discovery, in the Shorouk block…
Backlogs for subsea equipment manufacturers have been historically high in recent years – following record levels of subsea tree orders posted in 2013-2014. The process of working through these backlogs has thus-far cushioned the market against the decline in order activity seen in 2015…
The fact that exploration drilling activity is at a record lows in the UK North Sea is well recorded. It's easy to quantify and monitor. What is not so easy, is quantifying the number of already discovered fields which are currently sitting…
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