Shell along with partner Esso Exploration agreed to sell their entire stakes (50-50) in the Anasuria Cluster in the UK Central North Sea to a Malaysian joint venture consisting of Ping Petroleum and Hibiscus Petroleum. News reports put the sale price at US$105 million…
Engineering firm Wood Group has since its revenues slide 20% to US$3 billion as it suffers from the reduction in activity in the oil and gas sector caused by operators tightening their belts amid low oil prices. The firm, which has reduced its headcount 13% since December…
After nearly two years, Gazprom Neft Shelf has brought its second well into production at the Prirazlomnoye field in the Russian Arctic. Image of the Prirazlomnaya field. From Gazprom. Prirazlomnoye is located in the Pechora Sea…
Image: Paul Betteridge, TCO director/TCO TCO has confirmed a continuation of strong sales results, leading to the expansion of its Aberdeen workforce by a third. Within the past six months…
Shell’s second waterflood monitor survey offshore Brazil shows technical success. Jeannie Stell reports. SBM Offshore’s Espirito Santo FPSO can produce up to 100,000 bo/d and inject up to 75,000 b/d of water…
BG Group’s revenue and operating income may have decreased in 2Q 2015, but the soon-to-be acquired company has also hit several milestones, including reaching record production levels in two countries. BG's QCLNG pipeline in Australia…
McDermott International reported an increase in profits in 2Q, at US$11.5 million, up from a net loss of $7.4 million in the same period last year on revenues of $1.05 billion (up $570 million). McDermott says revenues for 2Q were positively…
Shell's acquisition of BG Group has cleared another major hurdle - unconditional merger clearance from the Brazilian competition authority (CADE). The clearance follows CADE’s initial approval of the combination on 8 July 2015, and…
AGR's board of directors has made internal promotions to appoint a new CEO and CFO, as current CEO, Åge Landro, moves on to a new role after 11 years with AGR. Svein Sollund, part of AGR’s executive team for eight years, has been appointed as CEO…
Shell’s arrival in the Chukchi Sea came with limitations from the Bureau of Safety and Environmental Enforcement (BSEE) that allows the supermajor to begin drilling, but not into oil-bearing zones just yet. The Noble Discoverer…
Oil major Shell today said the oil price downturn could last for several years, as it revealed 6500 expected staff and contractor reductions in 2015, as well as further capital and operational spending cuts. “Operating costs are expected to fall by over $4 billion…
Image: TAM International TAM International has restructured its regional businesses into two individual hemisphere-based groups in order to achieve higher performance rates and streamline its business objectives…
Houston-based Oceaneering International is diving further into the subsea sector with the acquisition of a minority interest in the UK’s Viper Subsea Technology. Image from Oceaneering. The deal…
The Bureau of Safety and Environmental Enforcement (BSEE) inspected Shell’s drilling rigs for its US$1 billion Arctic drilling program, the Noble Discoverer, Polar Pioneer and the Fennica icebreaker vessel in Alaska. Pre…
Chevron's multi-billion dollar deepwater west of Shetland Rosebank development appears to be edging closer back to fruition after a contract was awarded for the floating production, storage and offloading (FPSO) vessel turret. The Rosebank project was on track until 2013…
Subscribe
