Super major Shell is curtailing its spending by more than US$15 billion over the next three years and has futher options to reduce spending, the supermajor announced this morning, citing the dramatic, nearly 60% drop in oil prices over the past six months…
Petrobras said tests confirmed the size of the oil discovery at Libra's first appraisal well, 3-BRSA-1255-RJS (3-RJS-731), informally known as NW-1. Tests at the well, located 185km off Rio de Janeiro, proved an 290m oil column and carbonate reservors of high porosity and permeability…
Rosneft CEO Igor Sechin addressed the International Petroleum (IP) Week forum in London, stating that the oil markets are in a fairly acute crisis. Image from Rosneft. “In the second half of 2014 there was a drop in oil prices…
Europe’s second largest steel producer Tata Steel has marked the supply of one million tonnes of pipeline for oil and gas projects in the North Sea. Henrik Adam, chief commercial officer of Tata Steel in Europe, says the firm has completed…
The North Caspian Operating Co. (NCOC) awarded Saipem a US$1.8 billion engineering and construction contract to build two pipelines for the Kashagan field project, offshore Kazakhstan. Image from NCOC…
Brazil’s PetroRio is acquiring 80% interest in the Bijupirá and Salema fields, offshore Brazil from Shell Brasil Petróleo. Image of the Fluminense FPSO. From Modec. The Bijupirá and Salema fields are located in the Campos basin…
A unique and long-awaited sight arrived at one of Europe’s busiest ports early January - Allseas’ 382m-long, 124m-wide platform installation/decommissioning and pipelay mega-vessel Pieter Schelte. KOTUG…
Russia’s Gazprom announced plans to build a new LNG plant on the Baltic Sea on Thursday (22 January). The project, called Baltic LNG, will be built at Ust-Luga, in the Leningrad region, near the Gulf of Finland. It will be capable of producing 10 MPTA of LNG…
Alan Thorpe recently paid a visit to Singapore’s shipyards. He gives a rundown of some of the current floating production and storage unit conversions underway in Singapore and in Malaysia. The…
Russia's Gazprom has approved a new route for a gas pipeline across the Black Sea to Turkey. Gazprom had been due to build, in partnership with Eni, Wintershall and EDF, the South Stream pipeline, from Russia, across the North Sea, to Bulgaria and on to Italy…
The 2015 Offshore Technology Conference (OTC) will kick off on Sunday, 3 May, in Houston with the Annual OTC Dinner to honor the recipients of this year’s Distinguished Achievement Awards. OTC will recognize Elmer (Bud) Danenberger III for individual achievement…
Schlumberger and Eurasia Drilling (EDC) entered into an agreement in which Schlumberger will acquire 45.65% interest in EDC in a US$1.7 billion deal. The agreement extends the successful long-term relationship enjoyed by the two companies within the strategic alliance signed in 2011…
Oceaneering International entered into a two-year, multi-service vessel charter agreement with Shell for use of the Ocean Alliance in the US Gulf of Mexico (GOM) commencing January 1, 2015. The Ocean Alliance is a US-flagged vessel built in 2010…
Marine Well Containment Co. (MWCC) received delivery of its expanded containment system (ECS) for operations in the US Gulf of Mexico. MWCC Containment System in a 'cap and flow' scenario. From MWCC…
ExxonMobil began production at the Arkutun-Dagi field, off Russia. Image of the Arkutun-Dagi topside. Arkutun-Dagi is part of the multi-billion-dollar Sakhalin-1 project, which also…
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