Marathon Oil is to reduce its conventional exploration spending to just US$30 million, down from more than $250 million in 2015 and from more than $500 million in 2014. The firm said exploration activity in 2016 would be limited to existing commitments in the Gulf of Mexico and Gabon…
Total may have taken an 18% hit in its net income compared to 2014, but the French company said it was “the best performance among the majors.” Image of Total CEO Patrick Pouyanne. From Total Twitter…
Offshore trade unions have teamed up to form a co-ordinated 'fightback' against cuts and changes effecting workers in the UK's oil industry. The newly formed Offshore Co-ordinating Group (OCG) has representatives from Units, the RMT, the British Airline Pilots’ Association (BALPA) the GMB…
HAWXEYE, developed by Xodus engineers as an alternative to spreadsheets, is a cloud-based web app geared to screen assets for vibration, erosion and corrosion related issues. Complex data from monitors and piping and instrumentation…
China’s CNOOC commenced production at the Kenli 10-4 oilfield, offshore China. The Kenli 10-4 oilfield is located in the South of Bohai at about 15m water depth. In addition to fully utilizing the existing facilities of Kenli 10-1 oilfield…
A series of talks aimed at young oil and gas industry professionals in Aberdeen launches with a look at risk management and collaboration early next month. The SPE Aberdeen Simplified Series is run by the Society of Petroleum Engineer's Young Progessionals section in Aberdeen…
In contrast to 2015, upstream oil and gas deal activity is set to ramp up this year regardless of what happens to the oil price, according to Wood Mackenzie's M&A outlook for 2016. Should oil prices stay low, companies will be forced to sell assets and merge businesses: to free up capital…
Louisiana-based LLOG Exploration’s Delta House floating production system (FPS) achieved its nameplate oil capacity of 80,000 b/d in the Gulf of Mexico during the last days of 2015. Image of Delta House…
Shipping and offshore specialist law firm Wikborg Rein says current low oil prices could mean there are bargains to be had for investors in the offshore sector who follow recommended procedures for assessing and acquiring distressed companies…
Noble Energy revealed a 15,000 boe/d increase in its Q4 2015 sales volumes for both offshore and onshore fields to an estimated 405,000-415,000 boe/d. Map of Noble's Gulf of Mexico assets. Image from Noble…
Norway's Det Norske has bought UK-based independent explorer Premier Oil's Norwegian assets for US$120 million, just a month after agreeing to buy Svenksa Petroleum for $75 million. The Premier Oil assets include the Vette development…
Houston headquartered Apache has unveiled a string of discoveries it has made in the UK North Sea which could increase its total North Sea reserve base by 50% and result in investment in new production facilities. The company says it has made two 'significant' discoveries in the Beryls area…
Noble Energy has commenced production from the Big Bend oil development in Mississippi Canyon 698 of the deepwater Gulf of Mexico. Noble and partners expect the single-well field to reach a maximum gross production rate of approximately 20…
DONG Energy announced it will construct the 660MW Walney Extension offshore wind farm, located in the Irish Sea, approximately 19km off the west coast of Britain. The final investment decision has been made after securing all necessary consents from authorities…
In this video, Aker Solutions talks about the vision of the world’s first subsea gas compression system to the Statoil-operated Asgard field offshore Norway. The NOK 19 billion (US$2.34 billion) Åsgard subsea gas compression project…
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