Phase 12 of the giant South Pars gas field has been brought online in a ceremony involving Iranian president Hassan Rouhani. Phase 12, described as the biggest phase of the development of the South Pars field, officially launched operation…
An American data analytics and risk assessment firm based in Jersey City has bought Edinburgh, UK-based energy and mining industry analyst Wood Mackenzie. Verisk Analytics has agreed to buy the firm for US$2.8 billion from owners Hellman & Friedman and other Wood Mackenzie shareholders…
National Ocean Industries Association (NOIA) President Randall Luthi issued the following statement in advance of tomorrow’s Gulf of Mexico offshore oil and gas lease sale: 'This sale will be interesting due to low oil prices, which just dropped further this week…
The global offshore accommodation market has seen significant growth over the past five years, with persons on board (PoB) requirements increasing by 27% between 2009 and 2014. Although the recent oil price decline has negatively impacted the accommodation market to some extent…
CNOOC Ltd. announced that its Qinhuangdao 32-6 comprehensive adjustment project has commenced production. The Qinhuangdao 32-6 oilfield is located at the central north of Bohai Bay with an average water depth of approximately 20m. The…
The recent downturn in oil prices is expected to have minimal direct impact on Gulf of Mexico (GOM) crude oil production through 2016 because of the long timelines associated with GOM projects, according to a new report by the US Energy Information Administration (EIA)…
Woodside Petroleum's proposed acquisition of Houston-based Apache's interests in the Wheatstone, Balnaves and Kitimat projects are moving forward after the Australian Competition and Consumer Commission (ACCC) announced that it will not oppose the deal…
Industry cost-cutting and job cuts will get worse before it gets better, industry leaders told a business seminar in Aberdeen on 3 March. But, despite the gloom, they also said that the industry also needed to send out a more positive message…
Is the oil industry good at lessons learned but not at learning lessons? – asks Jan-Erik Nordtvedt, SPE Intelligent Energy program committee chair 2014 and President and CEO, Epsis Almost a year has passed since the SPE Intelligent Energy 2014 conference…
It is widely accepted that the UK Continental Shelf (UKCS) is a high cost petroleum province by world standards. The collapse in oil prices from over US$100/bbl to less than $50 can thus be expected to have a substantial effect on activity levels…
Angus Rodger and Matt Howell discuss the exploration environment as well as the potential impact from the recent fall in oil prices on Australian and New Zealand projects. Graphs from Wood Mackenzie. Australia…
Offshore drilling rig operators have put a positive spin on the tough market conditions, suggesting that the downturn could improve the global fleet and offer opportunities to buy distressed assets. Seadrill CEO and President Per Wullf said while…
Statoil and Wood Group Mustang Norway (WGMN) completed the hook-up of the Valemon platform in the North Sea. Valemon. From Statoil. WGMN teamed with the Korean engineering, procurement…
The outlook for mergers and acquisitions in the oil and gas service sector in 2015 will hinge upon the resilience of businesses and a recalibration of pricing expectations, according to energy specialist corporate advisory firm Simmons & Co…
Statoil has agreed to buy stakes in production license 602, close to the Aasta Hansteen development project, in the Norwegian Sea from Norwegian exploration firm Rocksource and Faroese explorer Atlantic Petroleum. Statoil will take Rocksource’s 10% stake in PL602 and 2…
Subscribe
