Floating production specialist SBM Offshore has accepted an out of court settlement over allegations relating to the Petrobras corruption scandal - but says this doesn't amount to an admission of guilt. The allegations were made in December…
Despite the already difficult North Sea market and painfully high cost levels, a new research report published today by DNV GL reveals that more short-term cost cuts are expected in 2016. Sixty-five percent of UK respondents think mistakes made in previous downturns are being repeated…
Petrobras stopped production from its P-31 floating production, storage and offloading (FPSO) unit offshore Rio de Janeiro for the second time this month, after gas and oil leaks occurred earlier this week, according to the Sindipetro Norte Fluminense union…
PGS has completed the acquisition of the 7300sq km CearáBasin “Fortaleza” MultiClient 3D survey on the Equatorial Margin of Brazil. The survey has significant industry pre-funding and marks the first use of a Ramform Titan-class vessel, the Ramform Atlas…
Eco Atlantic Oil & Gasand Tullow Oil subsidiary companies entered into a 10-year agreement with the government of Guyana to explore the deepwater Orinduik block, offshore Guyana, South America. Map of the Orinduik block…
Representatives from Spanish oil and gas explorer Repsol met with Guyana's President David Granger to seek an extension to continue exploratory work in the Kanuku Block, offshore the South American country, the Ministry of the President announced on 13 January…
The first major contract on Premier Oil’s Sea Lion field offshore the Falkland Islands has been awarded following completion of pre-front end engineering and design (FEED) on the project. Netherlands headquartered floating production…
Embattled Brazilian state owned firm Petrobras has made deeper cuts to its previously announced 2015-2019 business plan, with the company announcing a 25% drop in capex today (12 January). Petrobras will drop its planned capital expenses by US$32 billion in its 2015-2019 business plan…
Premier Oil has confirmed its Isobel Deep oil discovery offshore the Falklands, as well as an additional discovery in the same well. The well, which was a re-drill of the 14/20-1 Isobel Deep well, hit 27m of net pay, with no oil water contact or gas…
2015 truly was the year of ups and downs. At the start of the new year the price of oil tumbled to just below the US$50/bbl mark and by 31 December it rested at just under $40, at $37.04/bbl. However, it is not known what true bottom is for the market…
Wood Group has been awarded a new contract by PetroRio to deliver services to the Polvo A platform, in the southern Campos basin, approximately 100km off the coast of Rio de Janeiro. Integrated operations and maintenance services will be provided by Wood Group PSN under the two year contract…
Houston-based Ensco received a cancelation notice from Brazilian giant Petrobras for the DS-5 drilling rig, citing improper payments. Image of the Ensco DS-5 drillship. Courtesy of Ensco. Last year…
OE reached out to analysts Wood Mackenzie and IHS Energy to find out the view on the next 12-18 months. And the outlook is not so great for exploration spend. Audrey Leon and Elaine Maslin report. Wood Mackenzie Image from iStock…
Well plugging and abandonment activity as part of offshore decommissioning is starting to ramp up – but could it be done better? Elaine Maslin reports. Interwell’s exothermic P&A solution. Image from Interwell…
Aging infrastructure, deep waters, high-pressures and rising levels of H2S and CO2 are all on the hit for Technip’s VP of technology development. Elaine Maslin spoke to Group SVP Subsea Innovation & Technology Laurent Decoret. Laurent Decoret…