US independent Hess will increase its 2017 exploration and production (E&P) budget, turning its attention to activity offshore Norway, Guyana, and the Gulf of Mexico, the company announced on 12 January. Image from Hess…
Production on 10 January 2017 from the Beibu Gulf fields, offshore China, reached a total of 13.9 MMbbl, according to Horizon Oil. Up until this point, the Block 22/12 participants have been paying a fixed operating tariff of US$4.75/bbl to China National Offshore Oil Corp…
Oil and gas production on the Norwegian shelf is high. The adjustment process has been extensive, but the cost reductions implemented by the industry will lay the foundation for profitable activity for many years to come, the Norwegian Petroleum Directorate (NPD) said…
Ithaca Energy is further delaying its Stella field offshore the UK to February 2017 due to an electrical inspection program on the FPF-1 floating production facility. First oil was anticipated at the end of November 2016, and was pushed back to January 2017…
ExxonMobil has hit gold offshore Guyana with its new ultra deepwater Payara discovery, in addition to upping its ante at the giant Liza field. The Stena Carron, from Stena Drilling. The…
Premier Oil's Catcher North Sea floating production project is on schedule for startup later this year with a 29% reduced capital budget compared to when it was sanctioned, at US$1.6 billion. The Catcher area is expected to produce 96 MMboe…
Eni has started drilling on the Boné (Dazzler) exploration well 7318/12-1 in the Norwegian Barents Sea. Boné, being drilled using the Scarabeo 8 semisubmersible drilling rig is in a similar structural setting to the Johan Castberg discovery…
Tullow Oil announces several changes to its board of directors. Paul McDade, currently chief operating officer, will be appointed chief executive officer following Tullow’s Annual General Meeting (AGM) on 26 April 2017. This follows an…
The Petroleum Safety Authority Norway (PSA) has carried out audits within several disciplines at Snorre B, which is operated by Statoil. From 24 October to 7 November 2016, the PSA carried out an audit of Statoil's handling of major accident and working environment risk at Snorre B…
Norway’s upstream sector continued to feel the pain of low oil prices in 2016, but looks poised to make a recovery in 2017, new research from global natural resources consultancy Wood Mackenzie shows. Driving the recovery will be a step-change in exploration…
Pacific Radiance, a provider of integrated offshore marine support services, has re-established its presence in the Middle East with its recently inked multi-year contracts worth up to US$68 million, including options. Under the multi…
A severely distressed tail rotor caused the Sikorsky S-92 helicopter to lose total control in the 28 December incident at Total’s West Franklin platform offshore the UK, according to the UK’s Air Accidents Investigation Branch (AAIB). TRPCS…
GE Oil & Gas and Transocean signed a US$180 million contractual service agreement (CSA), to further maximize productivity and lower operating costs for Transocean. As a pioneer of new business models and performance-based service agreements…
Oil services giant Halliburton and Brazil’s Petrobras have signed a technology cooperation agreement that will advance collaboration in a diverse set of projects targeting complex reservoirs such as deepwater pre-salt and mature fields, offshore Brazil…
EMAS Offshore announced a net loss of US$2.2 million for the quarter ended 30 November 2016 (Q1 FY17), on the back of lower revenues. For Q1 FY17, the group recorded revenue of $42.5 million, as compared to revenue of $49.8 million in corresponding period last year…
Subscribe
