Melissa Sustaita charts the progress of two of the Caspian region’s famed oil and gas projects, NCOC’s Kashagan and BP’s Shah Deniz. Last year (2016) had its share of peaks and valleys; however, it was a year of excellent progress for two huge projects in different sectors of the Caspian Sea…
Aker BP started first oil at the Ivar Aasen field earlier this week, just four years after the plan for development and operations (PDO) was submitted. Image of Ivar Aasen, from Aker BP. Production…
Eni Norge is planning to drill a well on the Bone-Bignorna prospects in production licence 716 in the Barents Sea. Well 7318/12-11, in blocks 7318/11 and 7318/12, is about 320km north-west of Hammerfest in about 418m water depth…
Saipem has been awarded new contracts with an overall amount of about US$1 billion, with two major deals awarded by Saudi Aramco. In particular, the most significant are the notification of award by Saudi Aramco of two EPIC contracts (engineering…
Saipem has revealed a strategic plan that will allow the company to face more challenging market conditions that will see the company split into five divisions. The company said that recovery is expected to take longer than previously estimated…
Solstad Offshore has taken delivery of the Normand Maximus and started it on its eight-year charter contract with Italy's Saipem. The Normand Maximus was developed in close collaboration between Solstad, Saipem and shipbuilder Vard…
Farstad Shipping has been awarded multiple charter contracts in Brazil and Egypt. Petrobras has extended the contract for the multi-purpose supply vessel Far Swift with another year in direct continuation with present contract, until October 2017…
The Petroleum Safety Authority Norway (PSA) has launched an investigation into a fire which broke out in an engine room on the Scarabeo 5 drilling unit on 22 November 2016. A team from the PSA traveled out to the rig, which is working on the Njord field in the Norwegian Sea…
Statoil reported a fire on the Scarabeo 5 drilling rig in the Njord field in the Norwegian Sea. Image of the Scarabeo 5, from Saipem. As of 20:30, Statoil said that there are…
Norway’s Petroleum Safety Authority (PSA) has granted Statoil consent to use the Scarabeo 5 semisubmersible rig for well activities on the Njord field, in the Norwegian Sea. Statoil is the operator at Njord, around 130km north of Kristiansund…
Aker BP's Ivar Aasen project has won approval to start production in early December from the Norwegian Petroleum Directorate (NPD), the agency announced today (24 October). Illustration of Ivar Aasen…
Aker Solutions won a contract from Statoil to build the pipeline facilities, modifications and tie-ins needed at the Mongstad terminal to receive oil from the North Sea Johan Sverdrup field. The contract, valued at about US$42.5 million (NOK 350 million)…
After years of delays and soaring costs, the first batch of export crude oil has been shipped from the giant Kashagan oil field. The development, in the north Caspian Sea, was hit by its latest set back last year, after issues with the…
Airborne Oil & Gas (AOG) raised US$26 million (€23 million) in a series C investment round from both new and existing shareholders. (SAEV) joins the shareholder base with an investment of $11 million (€10 million). SAEV is the corporate venturing arm of Saudi Arabian Oil Co…
Gazprom received the first construction permit for the TurkStream pipeline's offshore section from the authorities of the Turkish Republic as part of the preparatory procedures for resuming the TurkStream project. The permit was received through diplomatic channels…
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