ROVOP, a remotely operated vehicle (ROV) service provider, and WFS Technologies, a wireless instrumentation and control solutions developer, have announced a collaboration effort to reduce certain operating costs by up to 80% and extend asset life by years…
Ampelmann, provider in motion compensation access solutions, opened an office in central Aberdeen as the next step in the continued expansion of the company. Ampelmann has an extensive track record in supporting walk to work campaigns in the North Sea…
ConocoPhillips is vastly reducing its 2016 capital budget by 55% to US$7.7 billion, compared to two years ago, that the Houston-based company says is due to the current environment, which remains challenging with low and volatile prices. Ekofisk area…
Faroe Petroleum has completed an up to US$20 million deal to acquire Roc Oil (GB Holdings), which holds 12.5006% interest in the Blane field and a 12.00% interest in the Enoch field, both in the UK North Sea. Roc Oil GB is a subsidiary of Roc Oil Company…
Trinidad and Tobago-focused Trinity is undergoing a multi million dollar cost reduction program that will include a management shakeup. Image from Trinity. According to Trinity…
North Energy’s board is in the process of adopting additional, extensive reductions that may lead to a possible merger. The reduction program will see the company close some of its offices; reduce operating costs, and its workforce that is being blamed on the persistent…
Some 140 fields could cease production on the UK Continental Shelf over the next five years, according to research by analysts Wood Mackenzie. The firm says high oil prices have enabled North Sea operators to extend field life and delay decommissioning time and time again…
The speakers at Wednesday's Oil & Gas UK economic report release highlighted the need for a major transformation to take place within the oil and gas industry. All noted that problems in the UKCS began long before the decline in oil prices…
Faroe Petroleum has agreed to buy UK explorer Roc Oil GB, including its 12.5006% stake in the North Sea Blane field and a 12% interest in the Enoch field, also in the North Sea for up to US$20 million. Roc Oil GB is a subsidiary of Roc Oil Company…
According to the latest analysis from Wood Mackenzie capital and operating costs in the UK and Norway's upstream sectors will decrease steadily this year as operators respond to lower oil prices. Wood Mackenzie projects that the biggest reductions will come in drilling costs…
Maersk Drilling and Awilco Drilling reported operational updates for 1Q 2015. Maersk Drilling realized a profit of US$116 million during 1Q 2015 due to fleet growth and operational performance, despite two idle rigs. The result is attributed…
Optimism continues to fall in the UK oil and gas industry according to the 1Q 2015 Oil & Gas UK Business Sentiment Index published 30 April 2015, which shows confidence in the sector has dropped from minus 23 points to minus 31 on a -50/+50 scale…
Young Okunna, GlobalData's upstream analyst covering Sub-Saharan Africa reported that the current downturn in oil prices has not slowed down in the region. Although several firms have cut back on their global exploration budgets, the region continues to attract activity…
Houston-based Eco-Engineering Solutions selected to use Paradigm’s Sysdrill software for well planning and drilling engineering. Image of well path positional uncertainty displayed in Sysdrill 3D viewer…
Consideration is being given to new tax incentives to encourage enhanced oil recovery schemes in the UK North Sea. Elaine Maslin looks at an assessment of EOR economics. Professor Alex Kemp. As production declines…
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