BW Offshore signed a farm-out deal to become operator of the Kudu license offshore Namibia with 56% stake. The company’s subsidiary BW Kudu will take over the license, with Namibian state-owned oil company National Petroleum Corp. of Namibia (NAMCOR) holding the remaining 44% interest…
Chevron posted total earnings of US$415 million for Q4 2016, however, posted a loss for full-year 2016 that the US supermajor says were due to the low oil prices. Image from Chevron. Chevron’s Q4 2016 earnings reflected a gain…
Independent explorer Tullow Oil is lining up a string of exploration projects this year, including targeting the 500 MMbo Araku prospect offshore Suriname in 2H this year. Other projects include seismic campaigns in Ghana, Jamaica and Uruguay…
FAR Ltd. says it has identified more than 1.5 billion bbl of undrilled oil prospectivity in its acreage offshore Senegal through the interpretation of new 3D seismic data. The Stena DRILLMAX is currently drilling the SNE-5 well…
Supermajor Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to US$3.8 billon. The packaged deal consists of Shell's interest in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster…
Oil & Gas UK has launched new guidelines, aimed at simplifying subsea developments. Realizing the potential of the North Sea’s “small pool” reserves could be helped by its guidelines, Oil & Gas UK says. The launch follows a call…
Newly merged Aberdeenshire-based Underwater Engineering Services (UES) and Houston-headquartered Seanic Oceans Systems secured its first contract in Tunisia, a region which neither firm had previously operated in. UES…
Apache’s FNT development may appear a bit “vanilla” on the surface, but a fit-for purpose and fast-to-first-oil ethos under the Apache Projects Group Mission Command management system meant the difference between production and stranded reserves…
Murphy Oil announced a partnership with supermajor Chevron in the Gulf of Mexico in Q4 2016, in addition to suffering from a net loss of US$64 million during the period, and an even bigger loss for the year. Image from Murphy…
British subsea companies are expecting to increase overseas activity in the next 12 months, according to a survey conducted by industry body, Subsea UK. Of the 300 member companies surveyed, 27% are predicting increasing exports by 50% or more in 2017…
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…
Costs have been cut in the industry, but has it been enough? Elaine Maslin looks at ongoing initiatives in the UK North Sea. Photo from iStock. The past two years of pain for the oil and gas industry is well known…
Norwegian outfit Borr Drilling has taken delivery of the Frigg (formerly Hercules Resilience) and the Ran (formerly Hercules Triumph) jackup drilling rigs from Hercules Offshore. The two rigs, bought for US$130 million late last year…
Kerogen Capital plans to commit up to US$300 million to back Pandion Energy, as the company pursues exploration, appraisal and development opportunities on the Norwegian Continental Shelf (NCS) through acquisitions, farm ins and licensing rounds…
Oil & Gas UK has elected Greta Lydecker from Chevron Upstream Europe, and UK ConocoPhillips President Terri King, to its board of directors. Lydecker, managing director, Chevron Upstream Europe, and King, president, UK ConocoPhillips…
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