Since its discovery in 2010, the Sea Lion field offshore the Falkland Islands has been subject to a string of development options. Elaine Maslin looks at Premier Oil’s optimized final plan. Ocean Rig’s Ocean Guardian semisubmersible drilling rig…
Norwegian universities have a great habit of directing their students towards research that quite often results in a new technology – and new businesses. Elaine Maslin reports on a new business bringing micro-electronic mechanical systems to the subsea business…
UK-based Centrica plans to reduce its workforce by 3000 by year-end, and a total of 6000 by 2020 in a move that will save the company more than US$1.1 billion (£750 million). Image of Iain Conn…
Italian oil major Eni has completed its first appraisal well on the giant Zohr gas discovery in the deep water Shorouk block offshore Egypt. The firm, which is now preparing for a well test, says the latest well on Zohr confirms the Zohr…
The failure of UK-based independent explorer First Oil has resulted in partners EnQuest and Cairn Energy increasing their stakes in the Kraken heavy oil field development. First Oil had held 15% interest in the Kraken field in the UK North Sea…
North Energy completed the acquisition of Explora Petroleum for a cash payment of US$2.5 million this week. Image from North Energy. The transaction was implemented through the…
Were the North Sea’s oil and gas industry not already depressed enough, the latest results from an annual survey of the sector, revealed in Aberdeen this morning, will surely ensure it’s descent into sclerosis. Attendees at the launch…
Total may have taken an 18% hit in its net income compared to 2014, but the French company said it was “the best performance among the majors.” Image of Total CEO Patrick Pouyanne. From Total Twitter…
Byron Energy mobilized the Hercules 205 jackup drilling rig to the SM 6 #2 well location in the Gulf of Mexico last week, and expects to spud the well this week. Hercules 205. Image from Hercules Offshore…
Malaysian independent exploration firm Hibiscus Petroleum is set to become a UK North Sea operator after receiving regulatory and shareholder approval for its acquisition of a 50% stake in the Anasuria cluster. It will be the firm's first producing asset…
Marathon Oil is to reduce its conventional exploration spending to just US$30 million, down from more than $250 million in 2015 and from more than $500 million in 2014. The firm said exploration activity in 2016 would be limited to existing commitments in the Gulf of Mexico and Gabon…
Oil production in the US Gulf of Mexico (GoM) will reach record high levels in 2017, due to some 14 projects starting up during 2015-17, despite low oil prices. Anadarko's Heidelberg. Image from Anadarko…
Noble Energy is implementing an aggressive plan to decrease its capital program by 50% in 2016, as the company moves forward with several development projects planned for the year that include Israel and the Gulf of Mexico. Image from Noble…
Wood Group PSN says it is to reduce rates paid to about a third of its UK-based contractors by about 9% 'in response to continuing cost and efficiency challenges affecting the UK North Sea oil and gas sector.' Wood Group, which already…
UK-based exploration minnow Cluff Natural Resources (CLNR) has entered into a further memorandum of understanding (MOU) with Halliburton. The move will see the pair to collaborate on the development of CLNR's southern UK North Sea gas…
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