Mexico's President Enrique Pena Nieto denied rumors that the state-owned oil company Pemex (Petroleos Mexicanos) will be privatized. Pena Nieto appeared at the 75th anniversary of the expropriation of the oil industry from foreign interests…
Production from subsea wells is growing in importance in many operator portfolios. As easily accessible oil is depleted, subsea processing offers a compelling solution to economically produce in a variety of challenging conditions. Worldwide…
PetroJunín, joint venture formed by PDVSA (60%) and Eni (40%), has started production from the Junín-5 giant heavy oil field, located in the Faja del Orinoco, the area with the largest untapped hydrocarbon reserves in the world. The block is…
The confidence of Britain’s oil and gas industry is steadily increasing according to Oil & Gas UK’s business confidence index published today.Oonagh Werngren of Oil & Gas UKAn analysis of data gathered in February reveals that the sector has…
Optio trains workforces Opito International has been awarded a contract with Shell to support the development of training for workers on the Majnoon project. The company will help improve vocational training centers in Basra, training Iraqis to industry expectations and Opito standards…
Neftegaz America Shelf LP (Neftegaz), an indirect independent subsidiary of Rosneft, acquires 30 percent interest in 20 deepwater exploration blocks in the Gulf of Mexico held by ExxonMobil, under an agreement signed by the two companies. Rosneft President Igor I…
Offshore engineering firm GMC Ltd. provides this video of the 2,500-ton CX-15 buoyant tower, touted at the world's largest, being installed at Corvina Field off Peru for BPZ Energy. The tower hull measures 69.9m with four, ring-stiffened…
Chevron Corp. conducted a successful production test on the St. Malo PS003 well in the Lower Tertiary trend in the deepwater Gulf of Mexico. Oil flow rates, though limited by testing equipment constraints, exceeded 13,000 b/d. Click to view largerThe test…
North Sea independent exploration firm Ithaca Energy has agreed a deal to buy fellow London AIM-listed explorer Valiant Petroleum.Ithaca said the deal, which values Valiant at about $309million, would establish it as “a leading mid cap North…
BPZ Energy expects to spud the first well at its CX-15 development, off Peru, within three to six weeks depending on weather and sea conditions, the company confirmed on 28 February 2013.CX-15 platform (Image: GMC Ltd.)The company said further…
Shanghai-based Wison Offshore & Marine Ltd., a subsidiary of the Wison Group, announced an agreement with EDF Trading and Exmar NV to support their collective endeavors to pursue LNG export opportunities in North America using offshore, barge…
News from the North Sea from Bridge Energy, Faroe Petroleum, Lundin Petroleum and E.ON.Transocean Arctic will drill the Amol prospect (Image: Petroleum Safety Authority of Norway)Bridge EnergyJunior North Sea explorer Bridge Energy has said…
The Evolution series conducts IMR operations in deep water.Bourbon took delivery of the Bourbon Evolution 803. It is the 3rd vessel in the 1st large IMR series for the offshore industry. Resource exploration is going into increasingly…
Chevron, Exxon, Shell, Statoil, and Petrobras are working with Magma Global to develop and qualify a taper stress joint using Magma’s m-pipe technology. The project, which began mid-February 2013, will focus on a 15ksi 8' taper stress joint…
Norwegian energy company Statoil signed Framework Agreements with MAN Diesel & Turbo Switzerland for the supply of new turbomachinery equipment and maintenance services. The duration was set for five years with options to prolong the contracts…