Believing that major spending cuts are over, Wood Mackenzie expects global upstream capital expenditures to grow slightly in 2018 to a total of US$400 billion. The downturn resulted in nearly $1 trillion being taken out of company spending from 2015 to 2020…
The Yamal liquefied natural gas (LNG) liquefaction plant has started production, with the first LNG cargo export scheduled for 8 December. The Christophe de Margerie tanker, named for the former Total CEO…
Pancontinental Oil & Gas has signed a petroleum agreement (PA) for its second block offshore Namibia. Under the agreement, the firm has committed to a four-year exploration program. Pancontinental also will become project operator with 75% interest in Block 2713 in the Orange Basin…
Subsea industry firm Subsea 7 has agreed to make an investment in Dutch themoplastic composite pipe (TCP) manufacturer Airborne Oil & Gas (AOG). Subsea 7 joins Shell, Chevron, Saudi Aramco and Evonik as shareholders in AOG. Manufactured out of a composite of fibers and polymers…
Petrobras has declared commerciality at the Libra Northwest field, formally renaming it Mero, following a vote amongst its workforce, the Brazilian operator announced on 30 November. Pioneiro de Libra FPSO…
Shell took another step towards completing its three-year, US$30 billion divestment program by selling shares in Woodside Petroleum to equity investors. Shell subsidiary, Shell Energy Holdings Australia, initially said today (13 November)…
Norway's latest offshore licensing round, focusing on the Barents Sea and Norwegian Sea, has drawn fewer than half the number of companies than its previous round attracted. Just 11 companies have applied for production licenses in the 24th licensing…
Hess has shut in production at its Baldpate, Conger and Penn State fields in the deepwater Gulf of Mexico in response to the fire that occurred last week at the Shell-operated Enchilada platform. The Llano field…
Two people were injured after a fire broke out on supermajor Shell's Enchilada platform in the US Gulf of Mexico early Wednesday morning, according to a joint report by the US Coast Guard (USCG) and the Bureau of Safety and Environmental Enforcement (BSEE)…
A US$3.36 billion (DKK21 billion) investment into a redevelopment of the Tyra gas field on the Danish Continental Shelf has been approved by the Danish Underground Consortium (DUC), led by Maersk Oil. The move will see the largest oil…
The US Bureau of Safety and Environmental Enforcement (BSEE) has approved Eni’s drilling plans for the Beaufort Sea offshore Alaska. US Arctic offshore Source: BSEE The Italian-based exploration…
Shell said today (10 November) that industrial firefighters were able to safely land on the Enchilada platform in the US Gulf of Mexico and perform a preliminary inspection; however, there is no timeline to resume normal operations. 'Though the structure is visibly sound…
Petrobras and its partners have achieved first oil from the mega pre-salt development Libra, the operator announced today (27 November). Libra is in the ultra-deep waters of the Santos Basin, 180km offshore Rio de Janeiro, Brazil. The…
DNV GL has secured a combined engineering services agreement with Chrysaor to deliver a unique range of services to the company in support of its North Sea operations. Chrysaor recently completed the acquisition of a package of assets in the UK North Sea from Shell for US$3 billion…
French oil major Total is to sell out of its delayed Martin Linge development and the Garantiana discovery offshore Norway, in a US$1.45 billion deal with part-state-owned operator Statoil. Statoil will take Total's 51% stake in Martin Linge…
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