Oil prices are set to rise on average US$10/bbl annually towards 2020, with global liquids supply and demand balancing out in around two years, according to Oslo-headquartered oil and gas consulting and business intelligence firm Rystad Energy…
Vertech is preparing to take delivery of its first specialist vessel as the company’s diving team enhances its capabilities for operations worldwide. Image from Vertech. The new 14…
Statoil hit big at its eighth discovery offshore Tanzania at the Mdalasini-1 exploration well, with an additional 1-1.8 Tcf of natural gas. Map of Block 2. From Statoil. Mdalasini…
The oil and gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed. However in an effort to drive value…
LR Senergy and EnergyOne formed a strategic alliance to support business development in Norway and internationally. LR Senergy’s Norway business, Senergy, has been acquired through a management buy-out and will now trade under the company name of EnergyOne AS…
East Mediterranean Gas Co. (EMG) is denying any involvement in the US$1.2 billion deal made last week between the Tamar partners and Dolphinus Holdings to export natural gas from Israel to Egypt using the EMG pipeline. Tamar map…
ENI Ghana Exploration and Production awarded the Oceaneering International and GE Oil & Gas-led consortium a contract to supply equipment for the Offshore Cape Three Points (OCTP) block project development located off the coast of West Africa…
Adapting to current cost conscious market conditions was the recurring theme of the Aker companies'* open day for investors last week (17 March). Edvard Grieg at Stord yard. Photo from Kvaerner. It…
Mubadala Petroleum signed an agreement with Morocco’s Office National des Hydrocarbures et des Mines (ONHYM) to carry out an evaluation of the hydrocarbon potential of a large area offshore Morocco’s Mediterranean coast. Signing of contract…
UTEC awarded Sonardyne International Ltd. a multi-million dollar contract to supply Fusion 6G acoustic positioning technology for the Total-operated Moho Nord subsea project, offshore West Africa. Technip’s rigid pipe S-lay and heavy-lift construction vessel…
GE Oil & Gas announced the booking of an US$850 million order across its oil and gas business for the supply of equipment to the Offshore Cape Three Points (OCTP) block, Ghana. The OCTP block is located in offshore Ghana at a water depth of 500-1100 meters…
While Mozambique’s previous two oil and gas licensing rounds have had limited success, the country will be hoping that recent discoveries and its revised fiscal environment will create an investment boost during its latest bid round, says research and consulting firm GlobalData…
Eni made a significant gas discovery offshore Libya and found more gas than anticipated at its Merakes-1 well offshore Indonesia. Libya find Eni activity in Libya. From Eni. Eni…
Italian giant Eni is investing an estimated US$5 billion dollars for the development of oil and gas resources in Egypt, including the development of 200 MMbbl and 1.3 TCF of gas. Image from Eni. Egyptian…
JDR opened a new service and maintenance facility in Port Harcourt and Lagos, Nigeria in partnership with Royal Niger Emerging Technologies. Image from JDR. In the agreement, which also establishes a long-term trade partnership…
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