ExxonMobil took a 38% decline in its Q3 2016 earnings, in addition to reducing its capital and exploration expenses by 45% during the period. Image from Exxon. The supermajor’s earnings for Q3 2016 took a US$1…
Global offshore oil production (including lease condensate and hydrocarbon gas liquids) from deepwater projects reached 9.3 MMb/d in 2015. Deepwater production, or production in water of depths greater than 125m, has increased 25% from nearly 7 MMb/d a decade ago…
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…
Verus Petroleum entered into a sale and purchase agreement with Maersk Oil North Sea UK for the acquisition of Maersk Oil’s 9.8% interest in the Boa oil field, increasing Verus’s interest in the Boa field to 11.35%. The deal also adds approximately 1800 boe/d to Verus’s daily production…
Hurricane Energy has reported a sustainable flow rate from a horizontal side-track well at its Lancaster discovery, West of Shetland, offshore the UK. Image from Hurricane. The…
After a thoroughly no good, very bad, couple of years for Brazil, the country is on the path to reform, and the first part starts with the country’s coveted pre-salt. Audrey Leon reports on what the opening means for the country and its state-owned oil company…
Galp Energia has signed a memorandum of understanding (MoU) with Petrobras aimed at extending the cooperation between the two firms. Galp and Petrobras intend to further explore areas of cooperation, in potential oil and gas exploration…
Emerson Automation Solutions has introduced the Roxar MPFM 2600 M multiphase flow meter. The Roxar MPFM 2600 M is designed to be a flexible and easily manageable wellhead measurement solution based on a field-proven technology platform. The…
Without higher oil prices, many new projects are thought to be uneconomic. Or are they? Douglas-Westwood recently reviewed more than 250 upstream capital projects sanctioned in the last four years to assess how industry costs are moving…
While it seems most Arctic exploration activity has slowed, it really depends on where you look. Bruce McMichael reports. Gazprom Neft’s Prirazlomnoye facility, in the Russian Arctic. Photos from Gazprom Neft…
DEA has submitted the plan for development and operation (PDO) for the Dvalin field (previously named Zidane) to the Ministry of Petroleum and Energy in Norway. Dvalin will be the company’s first operated field development project in Norway…
Emerson has agreed to acquire UK-based Permasense Ltd., a provider of non-intrusive corrosion monitoring technologies for the offshore and onshore oil production, refining, chemical, power, pipelines, metals and mining and other industries…
Balancing cost reduction with correct materials selection is key when it comes to problems such as hydrogen embrittlement, says William Hackett’s Tim Burgess. Welded chain sling link cracked. Images from William Hackett…
Production has resumed at the Goliat field early Tuesday morning (27 September), in the Norwegian Barents Sea, according to operator Eni Norge. Eni says full production is expected to be reached shortly, with full reinjection of gas and produced water…
Halliburton (HAL) has released the Acoustic Conformance Xaminer service (ACX), a technology designed to help operators identify and pinpoint wellbore leaks by analyzing sound waves that describe flow patterns in the formation and casing. The…
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