Australia-based WorleyParsons will pay US$55 million to an ExxonMobil (XOM) subsidiary after reaching a settlement on a dispute over a $550 million contract for engineering work for an offshore drilling platform it designed. In 2008, WorleyParsons was contracted by Exxon Neftegas…
Russian licensing authority Rosnedra awarded Lundin Petroleum a production license for the Morskaya field in the northern Caspian Sea. The production license, in the Lagansky Block, will be valid until 2035 and covers about 50sq km. The Morskaya field…
At this week’s Offshore Technology Conference (OTC) in Houston, DNV GL revealed a study that analyzes current regulatory regimes, outlining possible future developments and DNV GL’s recommendations to reduce the risk of major accidents. Safety model…
Hardfacing has been given a tungsten carbide boost thanks to chemical vapor deposition technology developed in Russia. Elaine Maslin explains. Hardide reactor loading to perform the CVD process…
Jeannie Stell looks at offshore heavy oil development economics with an eye on the current low-price environment. ExxonMobil expects its 52-well Hebron development project offshore Newfoundland to bring in first oil in 2017…
The UK government is giving Dea UK and partner LetterOne three to six months for a further change of control for UK North Sea petroleum licenses or they will be revoked. RWE Breagh installation…
Norway-based North Atlantic Drilling (NADL) and Russia's Rosneft recently agreed to extend the termination date of the 2014 framework agreement until May 31, 2017. The agreement states that either party can end the agreement, including any offshore drilling contracts…
In April, Gazprom reached a milestone for its Prirazlomnoye oil field as the Kirill Lavrov tanker delivered a new batch of ARCO Arctic oil to Europe during its sixth shipment. More than 2.9 MMbbl of oil has been extracted from the Prirazlomnoye oil field since production began…
Northern Offshore is delaying the delivery of two of its high specification jackups due to the downturn of the drilling market. The West Navigator. From NADL. Northern was able to…
Despite the recent memorandum of understanding (MOU) between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating liquefied natural gas (LNG) projects in Russia, according…
Russian oil exploration giant Rosneft sent a cancellation notice to North Atlantic Drilling Company Ltd. (NADL) to terminate its contract for the Energy Endeavor jackup. The Energy Endeavor. From Northern Offshore…
Rosneft sent North Atlantic Drilling Ltd. (NADL) a notice of termination for the West Navigator, in connection with a framework agreement between the two companies. The West Navigator. From NADL. The…
Russian engineering company Research and Design Institute of Urea and Organic Synthesis Products (JSC NIIK) migrated to AVEVA Everything3D (AVEVA E3D). AVEVA Everything3D. From AVEVA. AVEVA…
According to the United States Geological Survey, the area above the Arctic Circle holds approximately 90 billion barrels of undiscovered, technically recoverable oil and an estimated 1,670 trillion cubic feet (Tcf) of technically recoverable natural gas…
Fugro launched its G4 service, in the field of GNSS augmentation systems for offshore positioning applications. The new satellite correction service is the first to take advantage of all four GNSS (global navigation satellite systems): GPS…
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