Austrian integrated energy firm OMV has boosted its UK west of Shetland holdings after agreeing to buy four licenses in the area from Hess, including the Cambo field and the Blackrock prospect, for US$50 million. Depending on future developments…
More than 500 industry professionals came together at the sparkling 28th Offshore Achievement Awards ceremony in Aberdeen, last night. The Society of Petroleum Engineers (SPE) Aberdeen Section organized and hosted the awards, “the industry Oscars”…
John White has seen many changes in the oil and gas industry over his 40 years in the business. Subsea infrastructure has become increasingly diverless and remotely operated vehicles (ROVs) have enabled work in deeper, harsher environments…
A rendering of Kirinskoye's subsea processor, a first for a Russian company. Sarah Parker Musarra examines the offshore developments that helped make 2013 a banner year for Russia's Gazprom. Located…
Lundin Petroleum has completed two successful appraisal wells 16/3-8 S and 16/3-8 S T2, on the Johan Sverdrup discovery. Appraisal well 16/3-8 S, on the Avaldsnes High, was drilled about 4km southeast of discovery well 16/2-6 and about 3km west of appraisal well 16/3-4…
Viper Subsea has signed a joint industry project (JIP) agreement with energy giants BP and Total to further develop its Subsea Line Insulation Monitoring (V-SLIM) technology for identifying and locating cable and connector faults in remote subsea electrical distribution systems…
Weatherford International Ltd. and Baker Hughes Incorporated have signed an agreement for the sale of Weatherford’s pipeline and specialty services business to a subsidiary of Baker Hughes for a total consideration of US$250 million, including…
Germany’s RWE Aktiengesellschaft has conditionally agreed to sell its exploration and production firm subsidiary RWE Dea AG to Russian-backed LetterOne Group for about Euro 5.1 billion (US$7 billion). LetterOne was founded last year as an investment vehicle…
The Bureau of Ocean Energy Management (BOEM) received 380 bids on 19 Mar 2014, for 326 blocks in the central Gulf of Mexico, totaling more than US$850 million. Gulf of Mexico Lease Sale 231 attracted operators to bid on almost 40 million acres…
A new tax break for high-pressure, high-temperature fields in the UK North Sea has been overshadowed by a move by the UK Government to change to taxes on drilling rigs. The move, relating to bare-boat chartering, “perplexed” industry…
Cairn Energy has said it is committed to its planned 2014 operations, but that spending beyond then is being looked at closely as its awaits resolution of tax issues in India. The Edinburgh-based firm says spending beyond 2014 would depend…
AVEVA announced that AVEVA E3D Insight is now commercially available for project decision makers in the power, process plant and mining industries. This Windows 8.1 app enables mobile users to comment and approve AVEVA Everything3D (AVEVA E3D) designs from a tablet device…
Wrench time has been highlighted as one of the key areas the UK offshore oil and gas industry needs to address to improve production efficiency levels. Average wrench time - the amount of time spent working on a mechanical project, either…
UK and Singapore headquartered services firm Cape has acquired UK-based Motherwell Bridge, a provider of storage tanks, gasholders and heat exchangers to the energy and steel markets for £37.65 million. Motherwell Bridge, headquartered in Lanarkshire…
FAR Ltd has said a geotechnical evaluation of its offshore Western Australia exploration permits WA-457-P and WA-458-P in Australia’s Dampier Basin has identified multiple prospects with total prospective resources amounting to 447MM boe (unrisked best estimate basis) net to FAR…
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