OSBIT Power (OP), a leading Northeast England offshore and subsea engineering company, has successfully delivered two well intervention equipment projects, totaling several million pounds, to Helix Well Ops UK for installation on the Q7000…
Russia’s Rosneft and US-based ExxonMobil filed joint bids to participate in Mozambique’s fifth licensing round scheduled to close today (30 July). Map of the Angoche, Zambezi basins. From Mozambique National Petroleum Institute…
Oil major Shell today said the oil price downturn could last for several years, as it revealed 6500 expected staff and contractor reductions in 2015, as well as further capital and operational spending cuts. “Operating costs are expected to fall by over $4 billion…
Image: Jascon 31/Sea Truck Group Sea Trucks Group has won a charter for the Jascon 31 in the Gulf of Mexico. The DP3 accommodation construction vessel will start sailing soon from West Africa to the Gulf of Mexico…
US-based Chevron is cutting 1500 employees in its attempt to slash costs by US$1 billion, with Houston employees getting the majority of the job cuts. Chevron's Big Foot has seen delays this quarter…
Air Energi launched a dedicated division for permanent workforce solutions and appointed Donna Chapman as vice president to lead the new service stream. Air Energi has been delivering permanent workforce services for several years…
Subsea 7 expects to save US$550 million through its plans to cut 2500 jobs and 12 vessels from its fleet, the firm said today as the offshore industry continues to suffer from low oil prices. The firm, which had announced its staff and vessel reduction plans in May…
Production from the Gullfaks South (GSO) fast-track project for improved oil recovery in the North Sea started 27 July, increasing output from the Gullfaks area by around 65 MMboe. The project is part of Statoil’s fast-track portfolio…
French oil major Total has followed in Statoil's footsteps this morning, announcing 2Q profits which beat predictions as it increased production and refining. The firm saw new projects start in Angola (CLOV), the North Sea (West Franklin Phase 2) and Russia…
Houston-based independent Anadarko Petroleum has made an important gas discovery at the Kronos well, offshore northwest Colombia, in the southern Caribbean. The Bolette Dolphin (pictured, right) drilled the Kronos-1 well, which sits in a frontier deepwater basin in the Fuerte Sur block…
Freeport-McMoRan Oil & Gas failed to intersect secondary objectives at the MZ-1 exploration well offshore Morocco after reaching a depth of 4653m within the Lower Cretaceous, according to partner Pura Vida Energy. Wireline logs have…
Mexico’s national oil company Petróleos Mexicanos (PEMEX) suffered a 62% loss in its net income in 2Q 2015 of nearly US$52 billion ($84.6 billion MXN), a significant difference when compared to last year’s net income loss of $32.1 billion ($52…
Dolphin Geophysical has commenced the East Campeche 2D long offset multi-client survey in Mexico, utilizing the M/V Artemis Arctic. The licensed approved 19,597 line-km survey is well positioned towards the recent Mexican announced five-year…
The 2010 Deepwater Horizon spill came back to haunt BP once again in 2Q 2015, as the company reported a massive loss of US$6.3 billion, largely due to the deadly Gulf of Mexico incident. Bob Dudley…
Norway’s Statoil beat profits forecasts thanks to an increase in production and better refining margins but it further reduced its planned capex as oil prices remain low. The firm, which saw net income fall to US$882 million (7.2 billion NOK) from 9…
Subscribe
