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…
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…
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…
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…
First oil production has started from ConocoPhillips Eldfisk II project in the Norwegian North Sea. The Eldfisk II project includes plans to drill 40 new production and water injection wells from the new Eldfisk 2/7 S platform. One of four pre-drilled wells is currently online…
GlobalData’s Adrian Lara sheds light on the kinds of deepwater projects expected to advance while the price of oil continues to fall. Engineers from Jumbo Maritime deliver 25 MOF caissons for the…
Drilling rig operator Seadrill has exercised a purchase option for the West Polaris, a 6th generation ultra-deepwater drillship, from Ship Finance International Limited. The West Polaris was acquired by Ship Finance in 2008, and subsequently…
Arctech Helsinki Shipyard has moved into full Russian ownership after United Shipbuilding Corporation bought the other half of the company's shares from STX Finland. Finland based Arctech Helsinki Shipyard was founded in December 2010…
Gazprom has agreed to buyout its South Stream Transport partners Eni, Wintershall and EDF just weeks after the project, which was already in construction phase, was cancelled. South Stream Transport was owned 50% by Gazprom, with Eni holding 20%…
BPZ Energy completed the Corvina CX15-14D development well offshore Peru. Block Z-1 map. From BPZ. The CX15-14D well is located in Block Z-1 and is to the west of the six previously drilled CX-15 wells…
EXMAR is ordering its second floating liquefied natural gas (FLNG) unit from China’s Wison Offshore & Marine. Wison's yard. From Wison. Wison will be responsible for the turnkey engineering…
Wood Group PSN (WGPSN) has been awarded a five year contract worth about $750million by BP for engineering, procurement and construction services on six UK continental shelf (UKCS) offshore upstream assets and the Forties Pipeline System (FPS) onshore midstream facilities in Grangemouth…
Ophir Energy signed a production sharing contract (PSC) with the Myanmar Ministry of Energy to finalize the award of Block AD-03, offshore Myanmar. Upon the terms of the agreement, Ophir will be the operator with a 95% interest in the 10…
While high development costs are deeming many Australian liquefied natural gas (LNG) projects economically unfeasible, the country should stay focused on these rather than gambling on floating liquefied natural gas (FLNG) technology too soon…
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