To create meaningful cost reduction – or value creation – the industry will need to be more aligned in its understanding of what exactly terms like standardization and fit-for-purpose mean. Meg Chesshyre reports. The…
BP is headlining a reorganization as upstream chief executive Lamar McKay takes on a new role of deputy group chief executive, with Bernard Looney, the company’s upstream chief operating officer, production taking his place. McKay…
Aker Solutions' maintenance, modifications and operations (MMO) business in Norway secured two contracts for North Sea fields operated by ConocoPhillips. The company received a framework agreement for a fixed period of five years to become…
The Petroleum Safety Authority (PSA) Norway has completed its investigation into a hydrocarbon leak on the Statoil-operated Gudrun facility in the North Sea on 18 February 2015. The PSA’s investigation has identified serious breaches to the regulations…
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…
GE entered into a US$1 billion sourcing program, signing a series of agreements with its Russian strategic partners at the 17th GE Oil & Gas Annual Meeting in Florence. Expanding the scope of their 2013 strategic partnership, GE and Rosneft…
US tech firm Blueshift has been working with the UK’s Oil & Gas Innovation Centre (OGIC) and the University of Strathclyde, Scotland, to support the development of a polymer aerogel blanket. Aerogels are “solid materials” composed of 99…
Polarcus is cutting staff, including senior management, in an effort “to fit a redefined Polarcus,” and save about US$7 million a year. CFO Tom Hendrik Sundby leaves Polarcus in new wave of changes…
UK-based independent explorer Premier Oil's share value surged 100% this morning after trading recommenced following a two-week suspension. On 13 January 2016, Premier announced that it had agreed to acquire the whole of E.ON's UK North…
With only two days to go, Subsea Expo 2016 is set to attract its highest-ever numbers, despite the UK oil and gas industry facing the toughest period in its history. Organizer Subsea UK, is gearing up to welcome over 6000 delegates to Europe’s largest…
The oil price collapse has been bad news for nearly every company involved in the industry, but one group that could actually benefit from it are specialist decommissioning companies. For these companies, there is an opportunity to be…
Heather Saucier investigates how wireless technologies used by AUVs can make sea-bottom surveillance more cost-effective and time-efficient. A multibeam sonar system (EM 2040) image…
Open water coiled tubing drilling has been used offshore Norway in an industry first. Elaine Maslin found out more. Island Offshore’s Island Constructor. Images from Centrica Norge Coiled tubing drilling (CTD) isn’t a new concept…
A relentless focus is required to maintain and optimize production on often aging North Sea assets. Elaine Maslin reports. Wintershall’s Brage platform. Photos from Wintershall. Optimizing…
Swedish oil exploration and production firm Lundin Petroleum has dropped its capital spending budget 26% compared to 2016, but still expects a positive year as production at Edvard Grieg ramps up. Lundin's exploration spending will drop 64% compared to 2015…
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