Petrobras is expected to propose a multi-FPSO development for the deepwater, pre-salt Santos Basin Iara area after submitting a declaration of commerciality to authorities. The Iara area, in block BM-S-11, 214-250km off the coast of Rio de Janeiro…
Norwegian oil exploration firm North Energy has launched a strategic review after being approached over potential strategic opportunities as market conditions remain difficult. The firm says the continued low oil price presents challenges…
Ithaca Energy has appointed Roy Buchan as its Chief Operations Officer, starting 5 January 2015, and announced that Chief Development Officer John Woods is to leave the company on 31 January. The move comes as Ithaca nears first production…
Norwegian exploration firm Statoil has made a 6-9MMboe discovery on the Krafla North prospect in production license (PL) 035 in the North Sea, according to partner Det Norske, increasing the Krafla area overall estimates to 75-143boe. The 30/11-10 well…
Spain's Repsol has agreed a deal to buy Canadian exploration and production company Talisman Energy for US$8.3 billion plus debt - amounting to the largest international deal by a Spanish company in five years. The deal, which had been rumored for some months…
Wood Group PSN (WGPSN) has been awarded a five year contract worth about $750million by BP for engineering, procurement and construction services on six UK continental shelf (UKCS) offshore upstream assets and the Forties Pipeline System (FPS) onshore midstream facilities in Grangemouth…
The UK’s oil and gas industry workforce is expected to contract 9%, or by 35,000 jobs, between this year and 2019 according to a newly released report. Produced by professional services firm EY, for Oil & Gas UK, industry skills body OPITO and the Department for Business…
Russian authorities confirmed the reserves in the Pobeda oil and gas field, located on the Kara Sea shelf, Rosneft announced. The field was discovered through the Universitetskaya-1 well. The gas reserves were discovered in the chalk deposits of Cenomanian Age and Apt-Alb Age…
Oil production has started at from a previously undrained compartment at OMV’s US$255 million Maari redevelopment, located around 80km off the Taranaki coast of New Zealand. The MR-8A well, the second in the drilling campaign, was side…
Benchmark Brent crude plunged to a four-year low, below US$73 a barrel, yesterday (27 November) after oil cartel OPEC chose to leave its 30MMbbl/d output target unchanged at its latest meeting in Vienna. The move, led by Saudi Arabia…
Russia's Gazprom Neft and state-owned PetroVietnam have begun exclusive talks to potentially cooperate in the development of the Dolginskoye field, located about 75km off the Russian coast in the Pechora Sea. Gazprom Neft said in a statement…
Service company Royal Niger Emerging Technologies has awarded JDR a fast-track contract supporting the West African Abo project for the manufacture of a 1.55km hybrid steel tube and thermoplastic umbilical. The umbilical, designed to…
An underlying growth in global supply capacity, which is significantly outstripping demand, may mean that the world has now passed the peak price for oil, a report commissioned by Gaffney, Cline and Associates (GCA) suggests. The report…
Fosun International subsidiary Transcendent Resources has almost completed its off-market takeover bid of Roc Oil. The Hong Kong-based Fosun announced that it has received acceptances of 92.595% of all existing Roc shares, which translates to 363…
Production could resume as early as 2016 for the Kashagan oil and gas project off Kazakhstan following the replacement of pipeline infrastructure, Total’s President of Exploration and Production Arnaud Breuillac told Bloomberg. Production…
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