BP has reported a 91% drop in Q4 2015 earnings, revealing the impact of the lowest oil prices in more than a decade on the business, and says oil prices look set to 'continue to be challenging in the near term.' The firm's full year underlying profit was a loss of $5…
CNOOC says the Weizhou 12-2 oilfield joint development project (Weizhou 12-2) and Weizhou 11-4 North oilfield Phase II project (Weizhou 11-4 North) have recently started production. The Weizhou 12-2 project is in the Beibu Gulf basin…
Lundin Malaysia signed farm-out agreements (FOA) with certain wholly owned subsidiaries of DYAS for part of its working interests across three production sharing contracts (PSC) in Malaysia. The FOA covers Blocks PM328, SB307/308 and…
Aker Solutions' maintenance, modifications and operations (MMO) business in Norway secured two contracts for North Sea fields operated by ConocoPhillips. The company received a framework agreement for a fixed period of five years to become…
The Petroleum Safety Authority (PSA) Norway has completed its investigation into a hydrocarbon leak on the Statoil-operated Gudrun facility in the North Sea on 18 February 2015. The PSA’s investigation has identified serious breaches to the regulations…
GE entered into a US$1 billion sourcing program, signing a series of agreements with its Russian strategic partners at the 17th GE Oil & Gas Annual Meeting in Florence. Expanding the scope of their 2013 strategic partnership, GE and Rosneft…
US tech firm Blueshift has been working with the UK’s Oil & Gas Innovation Centre (OGIC) and the University of Strathclyde, Scotland, to support the development of a polymer aerogel blanket. Aerogels are “solid materials” composed of 99…
Sterling Energy's subsidiary Sterling Energy Mauritania Ltd. (SEML) has submitted a notice of withdrawal to its joint venture partners in Block C-3, offshore Mauritania. As part of the withdrawal, SEML will assign its entire 40.5% participating…
Lundin Malaysia commenced drilling of the Maligan exploration well in Block SB307/SB308, offshore East Malaysia. The Maligan prospect is in shallow water and lies to the north of a major producing field in offshore East Malaysia. The well will target hydrocarbons in Miocene aged sands…
Jan De Nul Group will install two additional power cables for Saudi Aramco’s Marjan Field, offshore Saudi Arabia, in the Persian Gulf. For the Marjan gas oil separation plant project executed by McDermott, Jan De Nul Group will install two 115 kV cables…
Rope manufacturer Lankhorst Ropes, was awarded a contract by Shell to supply the mooring lines for the Appomattox development to be located approximately 140nm southeast of New Orleans in the Gulf of Mexico. Lankhorst Ropes is supplying 78 rope lengths totaling over 63…
The Petroleum Safety Authority (PSA) of Norway has granted Statoil consent to use the Bideford Dolphin mobile drilling facility to drill a sidetrack on the Vigdis field in production license 089. The planned start-up is early February and the activity is estimated to last 8 days…
Ecopetrol's fully-owned subsidiary, Hocol Petroleum, has formed a new company called Ecopetrol Costa Afuera Colombia, which will now be responsible for offshore exploration and production activities off Colombia. These activities are…
Samsung Heavy Industries Co. (SHI) has awarded Clough a contract for hook-up services on the Ichthys LNG Project Central Processing Facility (CPF). The scope of work includes the preparation and execution of offshore hook-up activities and assistance to commissioning…
Siemens has been awarded its first commercial offshore wind order from Finland. The company will supply, install and commission 10 wind turbines, each with a capacity of 4 MW and a rotor diameter of 130m, for the Tahkoluoto offshore wind farm in the Baltic Sea…
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