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…
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…
Aker Solutions completed the acquisition of 70% of Brazilian CSE Mecânica e Instrumentação Ltda. The agreement includes an option for Aker Solutions to purchase the remaining 30% of the company three years from now. The acquisition…
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)…
Russia's Rosneft is to take a 30% stake in the Shourouk Concession, offshore Egypt, containing the supergiant Zohr gas field. Rosneft will pay operator Eni US$1.125 million and a share of past expenditures, which amount so far at about $450 million…
A rising number of UK operator companies are demonstrating their commitment to working smarter by signing up to two initiatives designed to reduce the legal and commercial complexity of offshore operations. As a result of collaboration between UK operators…
French independent Perenco has acquired a 70% interest in the Teak, Samaan and Poui Block (TSP) in Trinidad and Tobago. The interest in the fields, offshore south east of Trinidad, has been bought from Repsol E&P T&T, a subsidiary of Spain's Repsol…
BP has sanctioned the US$9 billion Mad Dog Phase 2 project in the Gulf of Mexico, with first production set to start in late-2021. Illustration of Mad Dog 2, from BP. The UK supermajor’s…
Faroe Petroleum and DONG E&P Norge have completed the acquisition deal consisting of five Norwegian North Sea oil and gas fields, with Faroe only paying a fraction of the original US$70.2 million price tag. Image of Trym subsea gas compression…
A new report from NSRI (National Subsea Research Initiative) has identified operations and maintenance (O&M) – particularly inspection, repair and maintenance (IRM) activities – as the highest potential area for subsea companies to diversify into offshore wind…
Centrica plc entered a deal to sell its entire portfolio of gas assets in Trinidad and Tobago to Shell E&P for an initial cash consideration of US$30 million (£24 million). The assets consist of a 17.3% interest in the producing NCMA…
Renco Elang Energy is set to spud the Amanah Timur-1 exploration well in the South Block A PSC, in the North Sumatra basin of Indonesia. Assuming satisfactory rig inspection by government officials, the well is currently scheduled to spud on 5 December…
2016 has been a year of challenges for the oil and gas industry. Audrey Leon surveys some of the year’s notable starts. Shell’s Stones project came online in September 2016, using the Gulf of Mexico’s second ever FPSO…
BP has agreed to buy a 10% interest in the Shorouk concession offshore Egypt, containing the super-giant Zohr gas field, for US$375 million. As part of the deal with Eni, BP will also reimburse Eni for BP’s share of past expenditure…
BP has acquired stakes in the Jock Scott and Craster high-temperature high-pressure, North Sea exploration prospects, operated by Statoil and Nexen respectively, with exploration wells planned on each mid-2017. The move comes just days…
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