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Lekoil Withdraws Suit Against Nigerian Petroleum Minister

May 16, 2019

Nigeria’s upstream regulatory hiccups continue to take toll on planned offshore exploration and production schedules as some private investors are stuck with their work programs for lack of clarity on key upstream mergers and acquisition procedures.Nigeria and West Africa focused oil and gas exploration and development company Lekoil is one of the private upstream players whose offshore investment…

BHGE Wins Subsea Award from Beach Energy

May 07, 2019

Beach Energy has awarded Baker Hughes, a GE company, a contract to supply subsea production systems for its Victorian Otway Basin brownfield development project located in offshore Victoria, Australia.The Otway Basin is approximately 500 kilometers…

U.S. Deeply Concerned by Turkey's Cyprus Drilling Intent

May 06, 2019

The United States is deeply concerned by Turkey’s announced intentions to begin offshore drilling operations in an area claimed by Cyprus as its exclusive economic zone, a State Department spokesperson said on Sunday.Turkish media on Saturday…

Teekay Gets Refinance for FPSO Fleet

May 01, 2019

The international midstream services provider to the offshore oil production industry Teekay Offshore Partners announced  that it has secured a new $100 million revolving credit facility for the Piranema Spirit, Voyageur Spirit, and Petrojarl Varg FPSO units…

Cautious Optimism for an Offshore Recovery

May 01, 2019

Much has been made of an expected recovery for offshore. We share that optimism. We think there will be around 20 final investment decisions (FID) for floating production, storage and offloading units (FPSO), nearly 60 subsea projects and a total of 330 trees going ahead this year…

Subsea Monitoring Equipment Put to the Test

Apr 25, 2019

Equipment that will be used to monitor the interaction between tidal turbines and marine mammals in the Pentland Firth has been put to the test in Aberdeen.The linear actuators that underwent hydrostatic testing at the Balmoral Subsea Test Center…

Santos Finds Gas Off Western Australia

Apr 16, 2019

Santos announced Tuesday it has confirmed significant gas resource in the Corvus-2 appraisal in the Carnarvon Basin, offshore Western Australia.Corvus-2 is located in 63 meters water depth, approximately 90 kilometers northwest of Dampier in Commonwealth waters within petroleum permit WA-45-R…

Standard Drilling Sells Four PSVs

Apr 15, 2019

New World Supply, where S.D. Standard Drilling (SDSD) has an ownership of 26.2 percent, has completed a sale of its remaining four medium sized platform supply vessels (PSVs).The NWS vessels, 'World Diamond', 'World Peridot', 'World Pearl' and 'World Opal…

Estonia Blocks $1.9B Offshore Wind Project

Apr 12, 2019

The Estonian government has refused to start the permitting process for the building of a $1.9 billion, 600-MW offshore wind farm off the west coast of the island of Saaremaa, citing national security concerns.The Estonian developer Saare Wind…

China, France to Develop OWP Project

Apr 12, 2019

China Energy Investment Corporation (CHN Energy) and Électricité de France Group (EDF Group) have signed a deal to jointly develop an offshore wind power project in China’s eastern Jiangsu province, Chinese official media reported.As per the agreement…

Adjusting Strategy to Survive Oil Price Volatility

Apr 08, 2019

In times of oil price volatility, operators can take certain actions to reorient their businesses, generate sustainable value and reignite investor interest.According to the “New horizons: Strategic choices for upstream oil and gas companies…

Eni Pilots Wave Energy Converter

Mar 28, 2019

Italian multinational oil and gas company Eni has activated the Inertial Sea Wave Energy Converter (ISWEC), offshore Ravenna, capable of converting energy generated by waves into electricity, which will in the future enable Eni to convert mature…

Wintershall Hopes to Free Stuck Norway Reserves

Mar 25, 2019

Plan to double Norwegian fortunes held up by field fix, remedial drilling campaignGerman offshore player Wintershall spent this week affirming plans to spend $2.23 billion offshore Norway toward doubling production, as Continental Europe’s “largest…

US Buyers Turn to Offshore Crude

Mar 25, 2019

U.S. sanctions on Venezuela's oil industry have made winners out of Royal Dutch Shell Plc and BP Plc, Gulf of Mexico offshore heavyweights, as refiners in need of substitutes are scooping up oil produced in the region.Those two companies produce…

EnQuest to Focus on Cutting Debt as Profits Jump

Mar 21, 2019

North Sea focused oil producer EnQuest on Thursday committed to continue efforts to cut its $1.77 billion debt this year after reporting a jump in full-year profits on the back of increased production.Chief Executive Amjad Bseisu said, 'We are committed to further reducing our debt…

Current News

North Sea Oil Production May Go Down

North Sea Oil Production May Go Down

DEME to Install Hornsea Two Turbines

DEME to Install Hornsea Two Turbines

Argentina Grants Offshore Exploration Permits

Argentina Grants Offshore Exploration Permits

Gazprom Finds New Yamal Offshore Fields

Gazprom Finds New Yamal Offshore Fields

New Offshore Wind Foundation Tested

New Offshore Wind Foundation Tested

14-year GoM Oil Spill Contained

14-year GoM Oil Spill Contained

Investors Push BP to Fight Climate Change

Investors Push BP to Fight Climate Change

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