Bermuda listed Seadrill, and Norwegian drillers Odfjell and Sevan Drilling reported their Q1 results this morning. Intense focus on cost cutting and efficiency have helped all three, as it had with the likes of Ensco and Transocean,…
Erik Milito, director of upstream and industry operations, American Petroleum Institute (API), will serve as the first keynote speaker at the 12th Annual Deepwater Intervention Forum (DIF) in Galveston, Texas, on 10 August 2016. Milito…
Oil major BP has bought a 16% stake in the high-pressure, high-temperature (HPHT) Culzean development project in the North Sea, doubling its stake to 32%. BP has acquired the stake from JX Nippon. Maersk Oil North Sea operates the US$4…
Shell announced on 15 May that production from the Brutus field in the US Gulf of Mexico has resumed following a leak at the nearby Glider field on May 12, which shut-in all production to the associated tension leg platform. While production…
UK-based procurement services firm Craig International has launched, at OTC, a new platform to help oil and gas companies offload surplus stock and buy other products and equipment they need at competitive prices. Craig Collaboration…
Kory Kinney, of IHS, takes a look at some of the projects underway in the US Gulf of Mexico. As we move through 2016, construction activity in the US Gulf of Mexico has begun dwindling…
Apache is moving ahead with its Callater development in the Beryl area despite spending cut backs in its North Sea business. The firm has awarded Subsea 7 an engineering, procurement, installation and commissioning (EPIC) contract as part of its Callater field development…
US supermajor Chevron has taken a big fall in Q1 2016, reporting a loss of US$725 million, compared to earnings of $2.6 billion in the same period last year. Image of Jack/St. Malo, from Chevron…
Cyprus-based Ocean Rig has stepped in to buy the sixth generation ultra-deepwater (UDW) drillship Cerrado, which once drilled the giant Libra prospect offshore Brazil, following its owner Brazil-based Schahin Group bankruptcy declaration last April…
ExxonMobil has started oil production at its US$4 billion Julia oil field in the Gulf of Mexico with the first production well currently online, and a second well set to start production in the coming weeks, the supermajor announced. Image…
Norwegian independent Det Norske has agreed to buy Centrica Resources Norge's operated stakes in the Frigg Gamma Delta and Rind discoveries in the Norwegian sector of the North Sea. Subject to the deal being agreed by regulatory authorities…
Statoil has cut its average project cost per barrel from US$70/bbl to around $40/bbl, but the work has just started and the changes need to be permanent, even if prices increase, CEO Eldar Sætre said this morning. Speaking at the Subsea Valley conference in Oslo…
After many years of decline, production of petroleum and other liquids in the United Kingdom (UK) increased by about 100,000 b/d in 2015, according to the US Energy Information Administration (EIA). The largest contribution to this…
Italian major Eni has found what could be the biggest gas deposit in the Mediterranean and the company is eager to develop it. Jerry Lee reports. Egypt Nile Delta. The Zohr discovery, in the Shorouk block…
Polarcus has announced the purchase of a complete marine seismic in-sea acquisition system (Streamer Package) from Dolphin Geophysical, for a price of US$11.5 million. The Streamer Package comprises 12 x 8100m active streamers and all peripheral in-sea equipment…
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