The first new-build semisubmersible drilling rig incorporating Wood Group Mustang Norway's (WGMN's) GG5000 floating hull design has been delivered to COSL Drilling Europe (CDE). The COSLProspector was designed to operate in water depths up to 1500m (5000 feet) and drill wells up to 7600m (25…
Italy-focused exploration firm Sound Oil has withdrawn its Intended Offer for North Sea exploration minnow Antrim Energy due to the deterioration in oil prices and reduction in global appetite for deep water exploration, the company said this morning (13 January 2015)…
Schnitger President Monica Schnitger urged oil and gas companies to explore and exploit the latest technologies to have successful projects at the 2014 Bentley Systems Year in Infrastructure conference. Meg Chesshyre has more. “I’m…
ION Geophysical and Somalia’s Puntland Petroleum and Minerals Agency (PPMA) entered into an agreement to complete a multi-client 2D regional seismic survey offshore Puntland, Somalia. Image from ION Geophysical…
Northern Offshore International Drilling Co. is in the midst of filing a US$50 million claim against Camac Energy for canceling the Energy Searcher drilling contract earlier this month. The Energy Searcher…
Woodside Energy and Adani Enterprises signed a memorandum of understanding (MOU) to identify, investigate and develop potential business arrangements and commercial initiatives in India’s LNG market. “India is an important emerging LNG…
From 2011 to 2014, we observed the largest oil supply shock in history: US shale oil production was adding more than 1 MMbbl/d every year, or more than the growth of global demand for oil. OPEC faced a risk of critical reduction in market share…
A selection of the country’s most innovative, dynamic and successful subsea businesses have made it on to the final shortlist for the annual Subsea UK Awards. The gala event, on 11 February at the Aberdeen Exhibition and Conference Centre…
The waiting is over - the shortlist for the 2015 Offshore Achievement Awards has been announced today (12 January 2015). Supported by OE, the annual awards are organized and hosted by the Society of Petroleum Engineers (SPE) Aberdeen…
Ithaca Energy is looking to more than double its production in late 2015 when its North Sea Greater Stella Area development is due to come on stream. The firm averaged 12,300 boe/d in 2014, according to a 2015 outlook published this morning…
Petrobras encountered a light oil and gas discovery in the Sergipe basin, offshore Brazil. Map from Petrobras. The ultra deepwater discovery was made at the 9-SES-188D/9-BRSA-1280D-SES well…
The Norwegian Petroleum Directorate (NPD) is processing Statoil’s plan for development and operation (PDO) for the Rutil discovery in the Gullfaks Rimfaksdalen area in the North Sea. Image of Gullfaks…
Van Oord took delivery of Damen’s offshore carrier (DOC) 8500 cable laying vessel, the Nexus. The Nexus. From Damen. The Nexus is a 126-m vessel that will be used for the installation…
As oil prices move ever lower, Wood Mackenzie assessed at what price the operating cash flow from producing oil fields turns negative. Negative operating cash flow can be an immediate brake on production. While Wood Mackenzie does not think this floor will necessarily be triggered…
Singapore-based COSCO (Nantong) Shipyard Co. is to scrap the Octabuoy project after failling to find a buyer for the unit. COSCO (Nantong) Shipyard was contracted to build the Octabuoy unit for ATP Oil & Gas' Cheviot field in the UK North Sea…
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