Oil and gas company Neptune Energy has started drilling on the Dugong exploration well in the Norwegian sector of the North Sea. Dugong is the first operated exploration well to be drilled by Neptune in the northern sector of the North Sea since the Duva discovery in 2016…
Petrolia NOCO, a partner in Neptune-operated PL 882 block in the Norwegian part of the North Sea, said the drilling of the Dugong well is set to begin by June 19, 2020.Neptune last week secured a regulatory consent to drill two wildcat wells at the Dugong prospect…
Danish offshore drilling company Maersk Drilling has joined a consortium whose aim is to develop an offshore storage solution for CO2 captured in Danish onshore facilities.Maersk Drilling said Wednesday it was joining a new CO2 storage consortium…
New Zealand's maritime safety authority has greatly increased the insurance cover or other financial security that owners must have to cover marine oil spills from their offshore installations.Under recent amendments to the Marine Protection Rules Part 102…
Offshore drilling contractor Valaris said Monday it had elected not to make the $13.3 million interest payment due on June 15, 2020, related to its 7.375% Senior Notes due 2025.The offshore drilling company, which had more than $6.5 billion of debt at the end of the first quarter…
Just as we were beginning to see light at the end of the tunnel, COVID-19 in the space of three months decimated the offshore industry and sent it spiraling into a double downturn. Oil majors have been forced to cut CAPEX (table 1) with E&P spending reduced significantly…
Saudi oil giant Saudi Aramco has decided to suspend a contract with Shelf Drilling for the High Island IV jack-up drilling rig.The offshore drilling contractor said Monday it had received a notification from 'a customer' on the suspension of…
Neptune Energy has secured a regulatory consent to drill two wildcat wells at the Dugong prospect in the North Sea, offshore Norway.The consent, granted by the Norwegian Petroleum Directorate, concerns the drilling of wells 34/4-15 S and 34/4-15 A…
Aberdeen-based oilfield services company TEMS International focused on improving the performance and compliance of drilling systems has recently secured two contracts in the deepwater Gulf of Mexico.The company said Thursday that the contracts…
ConocoPhillips Australia has completed the acquisition of an 80 percent stake in from 3D Oil in Australia's offshore Tasmanian Permit T/49P.The oil giant will pay 3D Oil A$5 million cash payment in recognition of previous expenditure at the Otway basin offshore block…
Chinese oil company CNOOC has this week completed the drilling of the first development well at the Lingshui 17-2 (LS 17-2) gas field development in the South China Sea, offshore China.The info, along with the photos, was shared by CIMC-Raffles…
Oil and gas company SapuraOMV has filed an application to Australian regulators for permission to carry out a geotechnical and geophysical survey within Permit WA-412-P offshore W. Australia, where it plans to drill the Kanga-1 well.Sapura Upstream farmed into the block in 2018…
Oil and gas firm Bahamas Petroleum Company, expected to spud its first well offshore the Bahamas later this year, has expanded its portfolio.The company on Tuesday said it has been awarded the AREA OFF-1 petroleum licence offshore Uruguay. According to Bahamas Petroleum…
Greece and Italy will sign an agreement on maritime boundaries during a visit by Italy's foreign minister to Athens on Tuesday, the Greek Foreign Affairs Ministry said.The deal follows months of tensions in the Eastern Mediterranean region over natural resources…
British oil major BP will lay off 10,000 people by the end of the year in a move to cut costs, the company's CEO Bernard Looney said in a social media post on Monday.Looney said: 'The oil price has plunged well below the level we need to turn a profit…