More than 5000 jobs have been lost in the UK North Sea sector and more losses are likely, the CEO of trade body Oil & Gas UK says. Deirdre Michie, Oil & Gas UK’s recently appointed CEO, told reporters during a briefing in Aberdeen that this is a challenging time for the industry…
Seadrill’s 1Q 2015 results showed the company’s revenue at US$1.244 million, down just 1.36% from $1.261 million in 4Q 2014. The West Jupiter. Image from Seadrill. Operating profit skyrocketed to a whopping 35…
Floating production unit operator BW Offshore has taken a hit in revenues and profits following a fatal fire on one of its vessel offshore Brazil. However, the firm says it will recoup its losses after the fire on the Cidade de São Mateus floating production…
On 20 May 2015, ExxonMobil (45% and operator) announced a discovery at its Liza-1 well on the Stabroek Block offshore Guyana. The well was spud on 5 March and drilled to an Upper Cretaceous fan play at a depth of 5433m in 1743m of water.…
Kosmos Energy hit additional hydrocarbon pay at its Tortue-1 exploration well offshore Mauritania, western North Africa. Mauritania map. From Kosmos. Tortue-1 is located in Block C8…
For the US energy industry, 2014 will be remembered as the year when crude oil prices fell below US$50/bbl, resulting in significant realignments in the sector. Aside from the oil price collapse and the historic high of domestic natural gas production…
UK trade union GMB has agreed to hold a strike ballot after talks over a dispute over changes to terms for UK offshore workers stalled. The GMB is taking action of what it describes as unilateral changes to working conditions for workers…
Transocean issued its May 2015 monthly fleet update summary, which includes new contracts, changes to existing contracts, and changes in estimated planned out-of-service time of 15 or more days since the 16 April 2015 fleet status report…
The mobile offshore drilling unit (MODU) market continues to weaken in 2015, reports Odfjell Drilling during its 1Q 2015 investor presentation. The North Sea rig supplier expects the weak MODU market to continue during the next couple of years…
Accura Group, based in Wolverhampton, and Peterborough-based Advanced Interactive Materials Science joined forces to manufacture Venturi Flow Meters, using the HIPing process for use with oil and gas production measurements. Venturi Flow…
Work on UK independent Ithaca Energy's Greater Stella Area (GSA) floating production unit is reaching a peak in Remontowa's Polish shipyard. Ithaca says manning levels on the FPF-1 vessel have been at historic highs over recent weeks…
Houston-headquartered drilling contractor Hercules Offshore sold four jackups that had been previously cold stacked since 2009. Despite the sale, 11 rigs in the company’s fleet remained cold stacked, five were added to that list this year alone…
DONG Energy has taken on the offshore wind market—and it is winning. Elaine Maslin explains. A2SEA’s new wind farm installation vessel, the Sea Installer. Images from DONG Energy. In a short period of time…
French seismic firm CGG has launched a western extension of the Horda BroadSeisTM-BroadSourceTM 3D multi-client program it began acquiring in the Northern North Sea offshore Norway in 2014. The extension, known as Tampen, is in the Northern…
International testing, inspection, certification and consulting engineering group RINA has acquired Houston-based QIC as part of its strategy to expand and internationalise services to the oil and gas industries. QIC is a leading testing…
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