AGR released new functionality for its bespoke well data software, iQx that will improve the analysis of spatial well data by using data collected from more than 6000 wells drilled on the Norwegian continental shelf. The new GEO module is aimed at geologists and petroleum engineers…
The crash in oil prices has led to a dramatic decline in the number and value of awards for floating production and storage offloading (FPSO) units. There have only been three contracts awarded this year; a conversion for the Sankofa-Gye Nyame development in Ghana…
Wellesley Petroleum Holdings, a new exploration company focused exclusively on the Norwegian Continental Shelf (NCS), announced that Chris Elliott has been appointed as CEO. Elliott’s last role was exploration manager UK and Norway for Cairn Energy…
China National Offshore Oil Corp. (CNOOC) commenced production at the Dongfang1-1 gas field Phase I adjustment project ahead of schedule, in the South China Sea. Image from CNOOC. The…
Upstream oil and gas deals activity, including capital markets and mergers and acquisitions, totaled US$23.5 billion from 114 transactions in May 2015, an almost $75 billion drop in value from the $98.4 billion achieved across 111 deals in April 2015…
Subsea challenges are in focus at this week’s Underwater Technology Conference (UTC) in Bergen. While the conference examines future oilfield challenges, we take a look back at past innovations in the industry. In a three-part series, Elaine Maslin looks at three past papers from UTC Bergen’s…
Asset Guardian Solutions (AGSL) announced that it received a contract from McDermott Asia Pacific provide its Asset Guardian software management toolset to protect and manage the software installed on the process control systems that…
Oil majors BG Group, BP, Eni, Royal Dutch Shell, Statoil and Total are jointly calling for international governments and the United Nations to introduce carbon pricing systems which could eventually be internationally connected. In what…
In a new two-part study, Wood Mackenzie explores the implications of the current low oil price for upstream fiscal terms. Governments dependent on oil taxation income are wrestling with lower oil revenues for public spending and pressure from oil and gas companies for more lenient terms…
Apparently undeterred by low oil prices, oil and gas output from ultra deepwater (>1000m water depth) fields will continue the relentless growth seen in recent years. Image from Shell. In…
Chevron's Erskine field has restarted production after being shut-in since September last year while a major upgrade was carried out on BG Group's Lomond facility, which it exports production through. Before the shut-down, the field was producing about a quarter of what is able to…
W&T Offshore encountered hydrocarbon pay at Ewing Banks 910 with the successful drilling and evaluation of the Ewing Banks 910 A-5 ST well in the Gulf of Mexico. The company logged 160ft of gross hydrocarbon interval and is currently completing the well…
Petrofac has been selected as duty holder for newly appointed southern North Sea Sean field operator Oranje-Nassau Energie (ONE), as of 1 June. Dutch operator ONE made its first step into UK waters when it bought a 50% stake in and took…
Atlas Knowledge has been awarded a contract by INPEX to provide training for production workers involved in the US$34 billion Ichthys LNG project. The INPEX-operated project includes some of the world’s largest offshore facilities off the coast of Western Australia…
For the US energy industry, 2014 will be remembered as the year when crude oil prices fell below US$50/bbl, resulting in significant realignments in the sector. Aside from the oil price collapse and the historic high of domestic natural gas production…
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