Audrey Leon looks at some of 2017's 10 largest offshore discoveries. First published in the December 2017 OE. While exploration hasn’t been as hot as it used to be, the finds this year have been big and plentiful. Wood Mackenzie has provided the year’s 10 biggest finds by volume…
Believing that major spending cuts are over, Wood Mackenzie expects global upstream capital expenditures to grow slightly in 2018 to a total of US$400 billion. The downturn resulted in nearly $1 trillion being taken out of company spending from 2015 to 2020…
Lukoil has started drilling the first production well at the Vladimir Filanovsky field after completing construction of the field’s second phase development facilities. The company plans to complete drilling early next year, Lukoil said in a 7 December statement…
The Yamal liquefied natural gas (LNG) liquefaction plant has started production, with the first LNG cargo export scheduled for 8 December. The Christophe de Margerie tanker, named for the former Total CEO…
Rosneft, part of the Sakhalin-1 Consortium, has successfully completed drilling of the world's longest well, from Orlan platform at Chaivo field in the Sea of Okhotsk. The well, with horizontal completion, is 15000m-long (15km). Rosneft…
Russian gas giant Gazprom Neft says it has made a new discovery containing 255 million tonne of oil equivalent (ca.1.8 bn boe) in place on the Ayashsky license block, in the Okhotsk Sea. The Ayashsky block in the Okhotsk Sea forms part of the Sakhalin-3 project…
Despite disappointment at Korpfjell, there’s optimism in the far North. The Christophe de Margerie LNG carrier in icy conditions. Photo from Total. High hopes were pinned on the multi-billion-barrel potential Korpfjell prospect…
CEFC China Energy is set to buy a 14.16% stake of state-owned Russian oil firm Rosneft in a US$9.1 billion deal with the consortium of Glencore and the Qatar Investment Authority (QIA). Image from Rosneft…
Bumi Armada has signed a supplementary agreement with Lukoil for additional engineering, procurement, construction and installation (EPCI) work at the Filanovsky field in the Russian sector of the Caspian Sea. Aramada Installer…
With US lawmakers prepared to hit Russia with more sanctions*, the domestic oil and gas industry is bracing for what potential impacts may come. Karen Boman lays out concerns voiced at a July Atlantic Council Event. [*Update] The US Senate…
Nearly two years after a failed attempt, oilfield services giant Schlumberger is set to acquire a majority stake in Eurasia Drilling Co. (EDC). The Astra jackup. Image from EDC. Schlumberger…
Rosneft and A. P. Moller Maersk, which owns drilling firm Maersk Drilling and oil firm Maersk Oil, as well as a huge container shipping business, are among a slew of companies across the globe hit by the Petya ransomeware virus. The virus…
Russia's President Vladimir Putin visited Allseas' mega-vessel, the Pioneering Spirit, to symbolically launch of the alignment of the shallow and deep-water sections of Gazprom's TurkStream gas pipeline in the Black Sea. Putin toured…
Russia's Rosneft says it has made a new oil discovery in the Laptev Sea, in the Russian Arctic. Rosneft says the Tsentralno-Olginskaya-1 well is the first in the Laptev Sea, and the northernmost exploratory well on the Eastern Arctic shelf…
Lukoil has completed the fifth production well for the Vladimir Filanovsky field in the Caspian Sea, and is constructing a sixth well to be used for water injection. Photo source: Lukoil The…
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