Vaalco Energy reported strong Q4 and full year 2016 production results. Image from Vaalco. Production for Q4 2016 averaged approximately boe/d, above the previously provided guidance range of 3300-3600 boe/d…
The Thunder Horse South Expansion project, in the deepwater Gulf of Mexico, has started up 11 months ahead of schedule, supermajor BP announced today (23 January). Illustration of the expansion at Thunder Horse…
W&T Offshore has received approval for a capex of US$125 million that will set up the Houston-based company to drill six to eight wells in the Gulf of Mexico this year, with its priority going to its Mahogany field. Image from iStock…
Global Energy Development (GED) has entered into two share purchase agreements to acquire a total of 11 offshore subsea service vessels, and a barge vessel, as it seeks to adopt a new business strategy focusing on the subsea oilfield services sector…
Houston-based Vaalco Energy restarted production at the Avouma 2-H well on the Avouma platform, offshore Gabon, after utilizing a hydraulic workover unit to replace a failed electric submersible pump (ESP) system. Gabon drill floor operations…
Neil Gordon, chief executive of Subsea UK. When looking at oil price trends over the years since the 1920s, it becomes apparent that apart from the cyclical spikes every few years…
Mermaid Maritime is at the chopping block again with China Merchants Industry, as the Thai company axes an additional two newbuild contracts with the shipbuilder. Illustration of the MTR-3 rig…
Houston's Vaalco Energy is back online at the South Tchibala 2-H well after utilizing a hydraulic workover unit to replace a failed electrical submersible pump (ESP) system, offshore Gabon. Image from Vaalco…
BW Offshore and the BW Group entered into agreement to acquire 66.67% of the Dussafu production sharing contract offshore Gabon. Subject to closing of this first transaction, the partnership has secured a right to acquire a further 25% of the Dussafu license…
Statoil’s Troll B has produced 1 billion boe since coming onstream two decades ago, with a further eight to 10 years of oil production expected, the Norwegian giant revealed today. Image of Troll B…
US deepwater player Anadarko has completed a deal to buy Freeport-McMoRan Oil & Gas deepwater Gulf of Mexico assets and announced two new Gulf of Mexico finds: Warrior and Phobos. Anadarko said the two finds highlighted the value of its…
First oil has been achieved from Shell's deepwater Malikai field, offshore Sabah, Malaysia. The project is Shell's second deepwater project offshore Malaysia, and its first tension leg platform (TLP) in the country, following Gumusut-Kakap…
As OE takes a look back on the year that was 2016, our website's most popular stories pretty much tell everything you need to know. It has been a depressing year for the industry with too many job cut announcements, rigs and vessel stacked (or sold)…
Swiss multinational commodity trading group Glencore has confirmed it is in the final stages of negotiations over buying a 19.5% stake in state-owned Russian oil firm Rosneft. The acquisition would be as part of a consortium with the…
More than 70% of Chevron's US$19.8 billion 2017 planned upstream investment will generate production within two years, the firm said yesterday. Chevron says it is targeting shorter-cycle, high-return investments with its 2017 capital budget…
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