OMV has successfully completed drilling and testing of the Wisting Central II appraisal well in the Barents Sea, with flow rates hitting just above 5000 boe/d. The Transocean Spitsbergen, from OMV…
Statoil has cut its average project cost per barrel from US$70/bbl to around $40/bbl, but the work has just started and the changes need to be permanent, even if prices increase, CEO Eldar Sætre said this morning. Speaking at the Subsea Valley conference in Oslo…
Oil company cuts could be going too far, leading to another period of high cost inflation as the oil price returns and capacity is found to be lacking, a Norwegian industry analyst has warned. Speaking ahead of the Subsea Valley conference…
FMC Technologies will reduce its Norwegian operations by 700 jobs in coming months, after taking a number of efforts to adjust to the low oil price environment, the company told OE. Image from FMC…
Zennor Petroleum’s subsidiary Zennor Pathway has spudded an appraisal well at its Finlaggan discovery in the Central North Sea. Well 21/5c-7, spudded on 5 April, is being drilled with Transocean Sedco 704 semisubmersible drilling rig…
BP has renewed its contract with Asco for its Norwegian operations. The supply services contract will be delivered across Norway, providing support in Tananger and Farsund, as well as further services in the northerly base of Sandnessjøen…
Kvaerner's executive vice president and CFO, Eiliv Gjesdal, has decided to step down from the role as CFO as of 6 April 2016. He will work with special tasks until his notice period ends 30 June 2016. 'Gjesdal started as CFO in Kvaerner…
Bibby Offshore (BOUK), a subsea services provider to the oil and gas industry, has secured a multimillion dollar contract with a North Sea Operator, to deliver decommissioning operations in the Northern North Sea East Shetland Basin. The agreement…
Tullow Oil awarded subsea engineering and training firm Jee a contract to investigate the most appropriate options for decommissioning their Thames area assets in the North Sea. Awarded in February 2016, the contract relates to the decommissioning of the Horne…
The future of oil and gas technology looks increasingly automated, digital and smarter according to a new technology outlook report published by DNV GL. Image from DNV GL. The…
Oil & Gas UK, the representative organization for the UK offshore oil and gas industry, announced the appointment of a number of member company representatives and a new team of officers to lead its board. All changes are of immediate effect…
The fact that exploration drilling activity is at a record lows in the UK North Sea is well recorded. It's easy to quantify and monitor. What is not so easy, is quantifying the number of already discovered fields which are currently sitting…
Fugro has completed offshore works undertaken in preparation for full construction of the European Offshore Wind Deployment Centre (EOWDC) at Aberdeen Bay, Scotland. The geotechnical site investigation took place at 11 turbine locations to assess the seabed…
Maersk Oil may shut down production at Denmark’s largest gas field, should an economically viable solution for continued operations not be reached by this year. Platforms at Tyra East. Image from Maersk…
Kvaerner has signed a framework agreement with Statoil, on behalf of partners, for upgrading of the Njord A semisubmersible platform. At the same time, Statoil has made the first call-off from the framework agreement with an estimated value of US$14…
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