Leading industry executives including BP CEO Bob Dudley cautioned against “over-reacting” to current low oil prices at global industry forum. 'While there has been some speculation that the high cost of unconventional oil production might…
Fosun International subsidiary Transcendent Resources has almost completed its off-market takeover bid of Roc Oil. The Hong Kong-based Fosun announced that it has received acceptances of 92.595% of all existing Roc shares, which translates to 363…
The Consórcio Tomé Ferrostaal (CTF) consortium of Rheinmetall International Engineering, and Brazilian company Tomé Engenharia, delivered two modules for the first of a series of six floating, production, storage and offloading (FPSO) vessels to Brazilian national oil company Petrobras…
Technip is investing more than US$84.7 million and more than four years to modernize its flexible pipe manufacturing plant, Flexi France, in Le Trait, France. This plan focuses on the installation of new-generation machines and site optimization to fit 12m diameter reels…
Mubadala Petroleum began production from two wells at the Manora oil field in the northern Gulf of Thailand. Manora field FSO. From Mubadala. The field is located within the G1/48 concession…
McDermott International delivered its 7,200-ton riser support structure (RSS) tower for the Ichthys project in the Browse basin, about 124mi off Western Australia. Engineered in Singapore and fabricated on Batam Island, Indonesia, the RSS tower is more than 328ft tall…
Kebabangan Production Oil Co. (KPOC) began gas production from the Kebabangan (KBB) gas field, approximately 60 mi. offshore Sabah, Malaysia, according to ConocoPhillips Sabah Ltd. The CHIKYU vessel. From Jamstec…
Production could resume as early as 2016 for the Kashagan oil and gas project off Kazakhstan following the replacement of pipeline infrastructure, Total’s President of Exploration and Production Arnaud Breuillac told Bloomberg. Production…
The Middle East will be one of the key markets for oilfield services companies for decades to come as countries across the region seek to maximize recovery from maturing assets and bring new fields into production, according to leading energy specialist corporate advisory firm Simmons & Co…
Intertek has invested US$2.8 million in its new Abu Dhabi Technology Centre, which supports new exploration and existing operational activity. The Abu Dhabi Technology Centre is currently equipped to provide reservoir characterization services…
While the specific terms of Mexico’s new contractual frameworks for its oil and gas industry are yet to be announced, the regime appears an attractive one and should be conducive to active bidding, according to an analyst with research and consulting firm GlobalData…
RWE Dea Norge has started drilling the Atlas exploration well in production license 420 after approval from the Norwegian Petroleum Directorate (NPD). Atlas, also known as well 35/9-12 S, is located in the North Sea approximately 45km off Norway…
Calgary-based Talisman Energy has said it may suffer writedowns on its UK North Sea assets in Q4 due to battling production efficiency and cost issues on its assets in the basin. In its third-quarter report, Talisman said its UK North…
Mubadala Petroleum completed drilling at the MNA-05 development well and began drilling at the MNA-07 and MNA-08 wells on the Manora Field, offshore Thailand. The Atwood Orca. From Atwood Oceanics…
Statoil aims to shed a further 15% on the capital cost for the Johan Castberg development, offshore Norway, before it can move forward, its project manager said. The up to 600MMboe Barents Sea Johan Castberg project has been delayed twice…