Since June 2014, the oil price has been on a downward spiral. The price of West Texas Intermediate (WTI), a key global oil price benchmark, has more than halved and fell below US$50/barrel for the first time in 5.5 years yesterday (5 January)…
French seismic acquisition firm CGG has posted strong results for Q4 2014 despite the current 'unfavourable' oil price environment. The CGG Oceanic Vega. From CGG. The firm said its anticipates record multi-client sales for Q4 2014…
The Ferguson Group has unveiled a new HVAC system for its workspace modules, which will protect workers from high temperatures and excessive humidity levels whilst offshore. The new HVAC system has been installed in the new workspace…
UK-based oilfield services company Archer has received a 30-day notice of early termination of its modular drilling rig contract for the Archer Emerald from Talisman Sinopec Energy UK. The effective date of termination is expected as the 29 of January 2015…
Lundin Petroleum's exploration well 25/10-12S on the Kopervik prospect is being plugged and abandoned as a dry hole. The well was drilled in production license 625, 175km west of Haugesund on the Norwegian west coast and about 20km northwest of the Johan Sverdrup discovery…
Oilfield services firm AGR has been awarded a three-year well management services contract with options with Edison Norge, supporting Edison across its operating licences, including the its first operated exploration well on the Norwegian Continental Shelf (NCS)…
JDR Cables has appointed former Aker Solutions UK regional president David Currie as its CEO and a member of the Board of Directors, effective 12 January 2015. Currie has nearly 30 years’ experience in the global offshore energy industry…
Five companies have been awarded licenses covering 10 exploration blocks in the Adriatic Sea in Croatia's first licensing round. The round had offered 29 blocks in the eastern Adriatic Sea covering a total of 36,822sq km. Bids were received from six companies for 15 exploration areas…
The Statoil-operated, NOK 22.6 billion Valemon high-pressure, high-temperature, gas and condensate development in the Norwegian sector of the North Sea started first production yesterday (3 January). The Valemon field, containing an estimated 192 MMboe recoverable reserves…
The capability to benchmark the reliability of safety-critical well barrier components against a global component test database will enable oil and gas operators to optimize asset performance, Ged Lunt says. Optimizing asset performance…
The race has been on to create a mechanically-lined pipe that can be installed using reel-lay. Now it’s been done, and the method is taking off. Elaine Maslin provides an overview. BUTTING’s own-brand BuBi-Pipe in manufacturing…
In October 2012 the International Association of Oil & Gas Producers (OGP) published Report 476 entitled “Recommendations for enhancements to well control training, examination and certification.” This report was produced as a result of the Macondo and Montara well control incidents…
The weather conditions west of Shetland are some of the harshest in the world, even without the help of hurricanes, typhoons and squalls. Elaine Maslin reports on how some companies are attempting to better understand the region. The…
Sarah Parker Musarra examines Israel’s Leviathan field’s potential and separates fact from misconception. The Tamar field, which was turned around from discovery into production in only four years…
Full Tensor Gravity Gradiometry (FTG) is aiding prospect evaluation in a formerly disputed zone of the Barents Sea, adjacent to the Norwegian-Russian border. Dr. Stephen Rippington, Dr. Neil Dyer, and Chris Anderson explain. Fig…
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