The rapid and aggressive response by oil and gas companies to low oil prices has stabilized the sector; the price required for companies to be cash flow neutral in 2015 has dropped by over US$20/bbl to $72/bbl. Wood Mackenzie believes further…
The UK government is giving Dea UK and partner LetterOne three to six months for a further change of control for UK North Sea petroleum licenses or they will be revoked. RWE Breagh installation…
Steel forgings are important building blocks for subsea components and are often tailored to meet end-users’ specific requirements. This results in long delivery times and repeated follow-ups throughout the supply chain. With DNV GL’s new…
Dana Petroleum awarded Technip a brownfield subsea contract for the Triton floating production storage and offloading (FPSO) vessel in the central North Sea. Image from Dana Petroleum. This…
In April, Gazprom reached a milestone for its Prirazlomnoye oil field as the Kirill Lavrov tanker delivered a new batch of ARCO Arctic oil to Europe during its sixth shipment. More than 2.9 MMbbl of oil has been extracted from the Prirazlomnoye oil field since production began…
Petroleum and energy minister Tord Lien opened the Valemon gas and condensate field in the North Sea on 16 April. Expected recoverable reserves from the field are 192 MMboe. Valemon ribbon cutting…
Lundin’s first development project offshore Malaysia, the Bertam field, is now onstream, with plans to continue with production from remaining wells throughout 2015. Malaysia drilling operations…
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…
Statoil confirmed its second discovery in the Aasta Hansteen area with the Roald Rygg prospect in the Norwegian Sea. Map of Roald Rygg. From Statoil. The gas discovery was made at…
Most of the Mexican side of the Gulf of Mexico remains unexplored. Dan McConnell explores the geotechnical knowns and unknowns in the basin. Acquiring geotechnical data for platform foundation design in Mexico’s Bay of Campeche…
Tertiary recovery, or EOR (enhanced oil recovery), should become an integrated part of production operations, a senior executive from Shell has told a European offshore industry conference this week. Speaking at a special EOR workshop…
Japanese exploration firm JX Nippon Oil & Gas Exploration's Malaysia subsidiary is planning two further exploration wells offshore Malaysia after confirming a deepwater oil discovery. The Bestari-1 exploration well, the first drilled in Deepwater Block R (the Block)…
Norske Shell has awarded IKM Subsea a long term IMR and ROV service contract. The contract value including options about US$19.1 million (150 million NOK) and duration term is firm for five years, plus five yearly options. “We are…
Italian operator Eni has backed a move to replace Saipem CEO Emberto Vergine with former Saipem and Eni executive Stefano Cao. Cao was worked at Saipem, which is 42.924% owned by Eni, from 1976 to 2000, during which time he held senior roles including CEO…
Ask about subsea well intervention and most assume it’s riserless light well intervention you want to talk about – for good reason. Elaine Maslin reports. Subsea light well intervention visualized by FMC Technologies…
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