Statoil’s exploration and discovery efforts in the Gulf of Mexico are moving forward, as the Norwegian giant announced the spudding of the Yeti appraisal well earlier this month on 12 August. Transocean’s Discoverer Americas drillship…
Low global crude prices have hit Saudi Arabia hard. With a considerable budget deficit, Saudi has been forced to begin borrowing from capital markets – US$4 billion in July. The kingdom is highly reliant on oil – accounting for more than 90% of budget revenues…
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…
The PSA has completed its investigation into two incidents which occurred on the Eldfisk complex on 6-8 August 2014. Several breaches of the regulations have been identified. Image from ConocoPhillips…
Italy's Eni is close to starting producing from Norway's first Arctic oil development, reports Reuters. Production from the Goliat field, estimated to hold about 178 MMboe, was originally expected to start in 4Q 2013, but the project has been beset with delays and cost overruns…
Iran is preparing to introduce 45 new oil projects to potential investors as it looks to attract investment into the country post-sanctions. Iran finally reached an historic agreement with the P5+1 countries late last month, over Iran's nuclear activities…
Norwegian offshore player Egersund Group recently set a new oil spill recovery record when its newly developed Marine Oil Spill (MOS) Sweeper system managed to recover 96.4% of oil released in a North Sea exercise. Image…
First oil and gas was produced from the H5 wellhead platform (H5-WHP) on the Te Giac Trang (TGT) field 10 August offshore Vietnam, says SOCO. The start of production was achieved one month ahead of schedule and the H5 development project has been completed with zero lost time accidents…
Production has restarted on the Kwane Nkrumah FPSO (pictured) on Tullow Oil's giant Jubilee field offshore Ghana ahead of expectations. The FPSO had suffered issues with its gas compressor late last month, resulting in a gas export outage from 3 July…
During Offshore Europe, a panel of leading international industry experts will discuss the preconceived perceptions that students and graduates have of a career in oil and gas, and how they differ from the experiences of those operating in the sector…
The Center for Biological Diversity formally and legally petitioned the US federal government to inspect all of California’s offshore pipelines for corrosion and other damages. Image from APPEA…
Iran said it is ready to negotiate with Japan over the return of the country’s enterprises to its oil projects as well as its upstream industries. Iran’s Oil Minister Bijan Zangeneh told reporters after a meeting with a visiting Japanese…
After almost eight decades of Pemex monopoly, the Mexican energy sector is entering a new era of foreign oil company participation. A decade of steady decline in domestic oil and gas production has incentivized the Mexican government…
ExxonMobil subsidiary Esso Australia has successfully completed its Turrum field drilling program, drilling five new wells as part of its ongoing investment in Bass Strait to develop new gas supplies. The AUD$335 million investment involved…
An official at the Iranian Offshore Oil Co. (IOOC) says the company has succeeded to increase crude oil production from Salman oil field in the Persian Gulf, which Iran shares with the United Arab Emirates (UAE). Sanctions on Iran’s oil…
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