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…
Europa Oil & Gas CEO Hugh Mackay says now is a perfect chance to drill on the firm’s offshore Irish prospects thanks to rig rates being at their lowest in a decade. The CEO, whose firm is targeting 1.5 billion boe, unrisked, in three…
BG group's Brazilian operations reached record net production of 159,000 boe/d in July 2015. Located 300km from Sao Paulo, BG Group along with partners Petrobras, PTTEP Brasil, and Petrogral, have interest in Sapinhoa, Lapa, Lula…
US supermajor Chevron announced in its Q3 results that it expects to make further workforce reductions in the realm of 6000-7000 in an effort to cut costs. The company’s earnings this quarter were better than anticipated, according to analysts Simmons & Co…
The North Sea’s first producing oilfield, Argyll, has finally been brought back on stream by operator EnQuest, after being started and decommissioned twice in the past by previous operators. Argyll, now named Alma, and part of EnQuest’s Alma/Galia development…
The geoscience segment of the offshore oil and gas industry was first to be hit, when oil prices took a nose dive from 2H last year. Results from two of the main geoscience players this morning confirm a broad industry outlook that the pain is set to continue well into 2016…
UK oil and gas firms are sitting on a war chest of £20 billion that could be released by simply improving their working capital management according to new research released today by business consultancy PwC. With no sign of an oil price rebound in sight…
Helix Energy Solutions announced in its 3Q results that its net income fell nearly 87% from US$75.6 million in 3Q 2014 to only $9.9 million for 3Q 2015. However, the drop is all about perspective. The company reported a net loss of 2.6 million in 2Q 2015…
London-listed oil and gas industry service provider Petrofac is facing legal action from a Chinese yard after terminating a construction contract for its newbuild JSD 6000 deepwater multi-purpose offshore vessel. Petrofac says the termination…
More than 40 items of unexploded ordnance (UXO) from World War II have been safely detonated or removed from the Norfolk coast, having been discovered on the export cable route for DONG Energy’s Race Bank offshore wind farm. Image…
Norwegian firms have chalked up yet another subsea first on the country's continental shelf. Just weeks after Statoil brought the Aasgard subsea gas compression project online, on 17 September, Statoil has announced it has now also started…
Nominations have opened for the 2016 Subsea UK Awards. Now in its 10th year, the awards seek to recognise companies and individuals who are leading the way in Britain’s successful £9billion subsea sector. Entries are being sought for the best subsea company of the year (large and small)…
Phoenix, Arizona-based minerals company Freeport-McMoRan (FCX) may be done with its foray into the oil and gas sector, nearly three years after the journey began. On Tuesday, the company announced that in consideration of spinning off its oil and gas business…
Low oil prices, falling investment and the need to transform the UK exploration and production sector were high on the agenda at SPE Offshore Europe. Elaine Maslin reflects. A packed plenary session during SPE Offshore Europe 2015…
Dallas-based Kosmos Energy entered into a deal with Atwood Oceanics that will see the exploration and production company get an extension, and a reduced rate for the Atwood Achiever ultra deepwater rig for operations offshore Northwest Africa…
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