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…
Further detail of support measures for the UK's oil and gas industry were revealed yesterday following a visit by Prime Minister David Cameron to oil city Aberdeen. Cameron first signed a 'UK City Deal' fund of up to £250 million (US$358…
Schedule slippage is an ever-present reality for exploration and production (E&P) projects, especially for the more complex mega-projects, says Norwegian oilfield analysts Rystad. 'In addition to subsurface challenges, above-ground issues…
BG Group shareholders made the final decision in the US$70 billion mega merger with Shell in an overwhelming 99.53% vote in favor of the deal today (28 January), making it the biggest merger between two supermajors in more than a decade. BG…
Leicester-based engineering polymer firm Nylacast is to open a new production facility in China following a £12 million (US$17.21 million) funding deal from Santander Corp. & Commercial. Nylacast supplies high performance engineering polymers and finished components to the oil and gas…
UK Prime Minister David Cameron is visiting oil city Aberdeen today to announce an injection of cash to help the ailing city as the industry struggles to deal with low oil prices. Cameron will sign a new 'UK City Deal' fund of up to £250 million (US$358…
The Petroleum Safety Authority (PSA) of Norway has granted Statoil consent to use the Bideford Dolphin mobile drilling facility to drill a sidetrack on the Vigdis field in production license 089. The planned start-up is early February and the activity is estimated to last 8 days…
Siemens has been awarded its first commercial offshore wind order from Finland. The company will supply, install and commission 10 wind turbines, each with a capacity of 4 MW and a rotor diameter of 130m, for the Tahkoluoto offshore wind farm in the Baltic Sea…
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