Wintershall’s flagship development in Norway has reached a new milestone as the two giant subsea templates for the Maria field were installed offshore last week. The 285-tonne templates, each the size of a basketball court, sailed…
The European Commission (EU) has awarded more than US$4.4 million (€3.9 million) to support tidal energy testing and demonstration in Orkney waters. Magallanes test turbine installation at EMEC…
PGS’s newest Ramform Titan-class survey vessel, the Ramform Tethys,has made her first project a new world towing record by drawing the world's largest seismic spread. Image of the Ramford Tethys…
Saipem has been awarded new drilling contracts and extensions to existing contracts in Portugal, Norway, Morocco, Saudi Arabia, Kazakhstan and Latin America, with a cumulative value of approximately Euro 150 million (US$170.48 million). Eni…
Drilling and engineering contractor KCA Deutag has sold its jackup drilling unit, the Ben Rinnes, to an integrated energy and services company for an undisclosed sum. Built in Clydebank, Scotland, in 1973 and acquired by KCA Deutag in 2005…
Some 28% of UK-based subsea industry firms have seen their sales drop by 50% of more since the start of the oil price collapse, according to a snapship survey by industry body Subsea UK. Yet, almost 80% of those surveyed said they were…
Statoil has made a minor gas/condensate discovery near the Krafla discovery in the Norwegian sector of the North Sea, according to the Norwegian Petroleum Directorate. The discovery was made on the Beerenberg prospect well 30/11-13, on production license 272…
Norway’s Petroleum Safety Authority (PSA) has issued orders to UK giant BP for its aging facilities on the Ula and Valhall fields in the North Sea. According to the order, BP must systematically review and map all areas and systems in respect of materials handling…
The next five years will bring a reshaping of the global gas trade, the International Energy Agency (IEA) said in its 2016 Medium-Term Gas Market Report. New liquefied natural gas (LNG) supplies are coming online just as demand growth in some major markets weakens…
BP’s compiled data from last year has revealed that global energy consumption has slowed further, with the mix of energy sources shifting towards lower-carbon fuels. Image from BP. In…
The Norwegian Petroleum Directorate (NPD) will continue to acquire geological samples and deep-sea minerals in the Norwegian Sea this summer. The objective is to increase understanding of resources and the geological development of the North Atlantic…
Oilfield service firm AGR has agreed a framework agreement with recently founded Norwegian oil development firm Okea. Okea was founded in Trondheim in 2015 with the aim of finding cost effective development and operation systems for currently…
UK-based fractured basement explorer Hurricane Energy has suspended farm-outs talks on its west of Shetland Lancaster project after raising enough financing to do its latest appraisal work itself. The firm raised £52.1 million in May…
Last year was a challenging year for the floating production systems (FPS) market. The low oil price threatened the commerciality of numerous projects, delay announcements for FPS units under construction arrived regularly and overall only four orders were placed…
The global offshore rig count for May 2016 has fallen 20%, when compared to May 2015, with Latin America seeing the biggest drop by 57%. Image from Saudi Aramco. According to Houston-based Baker Hughes…
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