Petrobras has awarded Seadrill an 18-month contract extension for the West Tellus drillship offshore Brazil, commencing in April 2018, and securing work for the unit through the end of October 2019. The total backlog for the contract extension is approximately US$164 million…
Byron Energy has started drilling a sidetrack well to the SM 6#2 well in the Gulf of Mexico, after a drill pipe became stuck with several unsuccessful attempts over a three-day period to free it, according to partner Otto Energy. Map…
UK-based independent has now cut US$425 million off its North Sea Kraken heavy oil development budget as it looks to continue reining in costs. After initially shaving $300 million, or about 10%, off the project's original $3.2 billion costs…
North Sea producers have been given a tax break in the UK Government's 2016 Budget, announced today. Amid falling oil prices, high costs and falling production, Chancellor George Osborne had already made some tax reductions and created…
UK-based subsea inspection, repair and maintenance (IRM) firm Harkand has been awarded a multi-million pound contract with Maersk Oil to deliver subsea support services. The contract includes a commissioning support campaign for the Flyndre…
Emerson Process Management has been awarded a contract to automate the Maersk Oil Culzean gas field development in the North Sea. Image of Culzean, from Maersk. Emerson will provide…
Anadarko Petroleum has cut some1000 jobs from its workforce, as the company braces itself for its proposed budget cut of nearly 50%, to stay afloat during the downturn hitting the entire oil and gas industry. Anadarko CEO Al Walker…
US supermajor Chevron is set to shave its budget by as much as 36% by next year, as the company approaches the finish line for global construction projects, and sets its sights on increasing production. Jack/St…
Dutch firm Boskalis has signed a letter of intent (LOI) to acquire offshore activities from VolkerWessels. Under the offer, Boskalis will acquire maritime and offshore wind energy related activities of VolkerWessels, namely VBMS, Stemat and VSI (Volker Stevin International)…
Atlantic Petroleum has agreed to sell its Norwegian activities to M Vest Energy - a company partly owned by Atlantic's existing management. The Norwegian activities include all of Atlantic's assets and licenses, the liabilities of the licenses…
With a weak start of the year for CGG, the French seismic company will reduce its fleet by another three vessels by the end of Q1, as its revenue dropped 32% from 2014. The Oceanic Vega. Image from CGG…
The first production test at Eni’s Zohr 2X appraisal well delivered some 44 MMcf/d of gas, offshore Egypt. Eni CEO Claudio Descalzi. Image from Eni. The Zohr 2X well, Eni’s first appraisal well on its giant Zohr discovery…
ScottishPower Renewables has made a final investment decision on the East Anglia ONE offshore wind farm, which is set to be one of the largest wind parks in the world. The 714 MW, £2.5 billion (US$3.47 billion) project offshore East Anglia…
Anadarko is reducing its capital investments by nearly 50%, and plans to monetize up to US$3 billion of assets, as the company focuses on its offshore assets in the Gulf of Mexico, and off Africa. Mozambique operations…
The UK oil and gas industry could release more than five million man hours each year if the sector standardized and simplified safety practices. The sector could recover as much as one hour of work per day per person at worksites through…
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