US-based Freeport-McMoRan (FCX) is cutting two vessels in the Gulf of Mexico in an effort to defer investments in several of the company’s long-term projects due to the oil and gas market slump. Image from FCX…
Even before the drastic drop in oil prices, deepwater extraction costs were under examination, as costs had nearly quadrupled in the past 10 years. The price collapse has created a greater urgency for rethinking how the industry does business…
Houston headquartered Apache has unveiled a string of discoveries it has made in the UK North Sea which could increase its total North Sea reserve base by 50% and result in investment in new production facilities. The company says it has made two 'significant' discoveries in the Beryls area…
Technip CEO Thierry Pilenko. Photo from Technip. “We are in an environment where something was broken.” It’s a harsh summary but one few would dispute. Nor would many now…
As Stone Energy reported a net loss of US$8.4 million in Q3 2015, the company’s operations in the Gulf of Mexico are moving full steam ahead, with exception of the decision to shed a minority stake in one non-operated project, in addition to cutting some of its workforce in Q4…
Noble Energy has commenced production from the Big Bend oil development in Mississippi Canyon 698 of the deepwater Gulf of Mexico. Noble and partners expect the single-well field to reach a maximum gross production rate of approximately 20…
DONG Energy announced it will construct the 660MW Walney Extension offshore wind farm, located in the Irish Sea, approximately 19km off the west coast of Britain. The final investment decision has been made after securing all necessary consents from authorities…
In this video, Aker Solutions talks about the vision of the world’s first subsea gas compression system to the Statoil-operated Asgard field offshore Norway. The NOK 19 billion (US$2.34 billion) Åsgard subsea gas compression project…
Norwegian firms have chalked up yet another subsea first on the country's continental shelf. Just weeks after Statoil brought the Aasgard subsea gas compression project online, on 17 September, Statoil has announced it has now also started…
Nominations have opened for the 2016 Subsea UK Awards. Now in its 10th year, the awards seek to recognise companies and individuals who are leading the way in Britain’s successful £9billion subsea sector. Entries are being sought for the best subsea company of the year (large and small)…
While much of SPE Offshore Europe focused on the North Sea, there was also a strong global focus, via UK Trade and Industry’s country briefings, as well as keynote sessions looking at global security issues. John Bradbury sat in on the “Security of staff and assets” keynote…
In response to the decline in crude oil prices since mid-2014, the number of active offshore rigs has declined worldwide, dropping close to 20%, says the US Energy Information Administration (EIA). There were 304 offshore rigs operating in August 2015…
Statoil's US$2.34 billion Asgard subsea gas compression project came onstream last week as the world's first subsea gas compression facility 300m below the surface of the Norwegian Sea. In this illustrated video, the Norwegian giant shows the installation and how it will work…
Some 140 fields could cease production on the UK Continental Shelf over the next five years, according to research by analysts Wood Mackenzie. The firm says high oil prices have enabled North Sea operators to extend field life and delay decommissioning time and time again…
Origin Energy’s BassGas production has exceeded 60 TJ/d following the Yolla-5 development well coming online offshore Australia, according to partner AWE Ltd. Image of BassGas. From Origin. The…
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