Louisiana-based LLOG Exploration Co. began production from the Delta House floating production system (FPS) in the Gulf of Mexico. Delta House. From LLOG. Delta House is located in Mississippi Canyon 254…
An oil price below US$70/bbl will not be sustainable long term, according to Norwegian energy analysts Rystad Energy. Speaking at the firm’s offices in Oslo, senior analyst Audun Martinsen outlined how the firm sees current global liquids…
Houston-based BPZ Energy, that is currently under chapter 11 protection, is suspending its Corvina CX15-9D well offshore Peru after failing to produce oil. Map from BPZ. The well…
Several floating wind turbines have been installed in recent years, with operational turbines in Norway, Japan and Portugal. Floating turbines have several benefits over their conventional counter-parts – firstly, they are more economically efficient…
Despite the recent memorandum of understanding (MOU) between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating liquefied natural gas (LNG) projects in Russia, according…
The oil and gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed. However in an effort to drive value…
The first signs of a recovery in the oil price have been seen and opportunities are opening up in the Mediterranean for Europe to significantly reduce its reliance on energy imports, delegates at the 12th Offshore Mediterranean Conference (OMC 2015) heard this morning…
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…
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…
A three phase asset management strategy could help counter costs, says ABB’s Will Leonard. In mid-December, the price of oil fell further after the International Energy Agency (IEA) forecast weaker demand in 2015. Brent crude fell to around US$60 a barrel…
Kuwait Petroleum Corp.'s (KPC) CEO today said the company would be increasing output, a move he says will put pressure on deepwater projects as well as the likes of onshore oil sands and expensive unconventional projects. Nizar Al-Adsani said the market…
Independent oil firm Premier Oil is sticking to an eight-well exploration campaign in 2015, including its four-well campaign in the Falkland Islands, due to start in March, and its first well in the emerging Mandal High play offshore Norway…
First oil production has started from ConocoPhillips Eldfisk II project in the Norwegian North Sea. The Eldfisk II project includes plans to drill 40 new production and water injection wells from the new Eldfisk 2/7 S platform. One of four pre-drilled wells is currently online…
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