Petrobas' pre-salt production has reached 40% of all the state-oil firm's production in Brazil and 12 more systems are due online in the Santos Basin alone by 2020, the firm has said. The milestone was reached as over all pre-salt production set new highs…
French group ENGIE's Norwegian business has hailed an increase in gas production on its Gjøa field by 17.5% and an increase in the ultimatly recoverable reserves by 60 MMboe. 'Gjøa was originally designed to export 17 MMscm/d. That we are currently producing 20 MMscm/d…
Oil major Shell has said it is to cut around 475 jobs from its UK and Ireland business by the end of this year as it further reduces its cost base. The firm has already announced more than 10,000 jobs cuts globally, including some 2800…
The downturn is forcing operators to go back to the drawing board in order to advance projects. EIC Analyst Angeline Elias provides an overview of activity in Asia Pacific. Dockwise loading out the SHWE platform…
Australian operator Carnarvon Petroleum has acquired 100% of WA-523-P Australia’s North West Shelf (NWS). Carnarvon says the area offers it a great opportunity at a low cost, given today's oil price environment. In total, within about 40km around WA-523-P…
The UK oil and gas industry is set to become a pioneer in decommissioning activity globally and has the opportunity to become leaders in this field according to Wood Mackenzie. 'Although decommissioning in the North Sea has been an impending reality for some time…
Bermuda listed Seadrill, and Norwegian drillers Odfjell and Sevan Drilling reported their Q1 results this morning. Intense focus on cost cutting and efficiency have helped all three, as it had with the likes of Ensco and Transocean,…
UK supplier of subsea umbilicals and power cables JDR has been awarded a contract by GE Oil & Gas, on behalf of operator ONGC, for the Vashishta and S1 development project, offshore India. The Vashishta and S1 fields are in the KG Basin…
Oil major BP has bought a 16% stake in the high-pressure, high-temperature (HPHT) Culzean development project in the North Sea, doubling its stake to 32%. BP has acquired the stake from JX Nippon. Maersk Oil North Sea operates the US$4…
Apache is moving ahead with its Callater development in the Beryl area despite spending cut backs in its North Sea business. The firm has awarded Subsea 7 an engineering, procurement, installation and commissioning (EPIC) contract as part of its Callater field development…
Swiber Holdings reported a net loss of US$0.2 million for Q1 2016, in addition to a group revenue increase of $191.3 million due to South Asia projects. The offshore engineering, procurement, installation and construction (EPIC) company's…
UK-based procurement services firm Craig International has launched, at OTC, a new platform to help oil and gas companies offload surplus stock and buy other products and equipment they need at competitive prices. Craig Collaboration…
Houston-based Anadarko Petroleum has successfully drilled its first horizontal deepwater well offshore the Ivory Coast. The firm encountered 100ft net of true vertical thickness (TVT) pay on the Paon-5A well using Bolette Dolphin drillship…
Drilling contractor Awilco Drilling posted zero revenues for Q1 this year and a net loss of US18.7 million, thanks to one rig being out of work and another undergoing work. While the firm has work for one of its two semisubmersible rigs…
Dallas, Texas-based Kosmos Energy has laid claim to more than 25 Tcf of gas in the Senegal-Mauritania fairway after making its latest gas discovery. Kosmos says the “significant” Teranga-1 deepwater exploration well, in the Cayar Offshore Profond block…
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