Embattled Brazilian state-owned energy firm Petrobras has approved a new five-year investment plan for 2015-2019, which slashes total investments by 41% from last year’s estimates, the company announced on 29 June. Last year, the company announced it planned a total capex of US$220…
Fugro’s multi-purpose drilling, well intervention and geotechnical vessel, Fugro Synergy, is proving her capabilities on a multi-well intervention campaign which recently started in the Gulf of Mexico. The campaign involves utilization of a top-tensioned 6…
The European Commission has cleared the proposed US$7.6 billion merger between Dresser-Rand and Siemens, the Houston-based equipment supplier announced on 29 June. All of the conditions precedent regarding regulatory matters have now been satisfied…
The US Supreme Court rejected BP and Anadarko Petroleum’s appeal relating to billions of dollars owed from Clean Water Act fines for 2010’s Deepwater Horizon spill, according to news reports. Image from USCG…
An oil industry consortium that includes BP and ExxonMobil suspended a Canadian arctic exploration program in the Beaufort Sea region due to insufficient time to begin test drilling before its lease expires in 2020, according to Seeking Alpha…
Guyana's president, David Granger, says he has assured ExxonMobil that exploration work at the company's recent oil discovery off the Guyana coast will not be interrupted, despite Venezuela’s recent revival of a century-old claim on 66% of Guyana’s territory…
Houston-headquartered driller Northern Offshore (NOF) is to be combined with Chinese-controlled Blue Ocean Drilling into a new firm if a deal with Shandong Offshore International Co. worth about US$160 million (NOK 1.3 billion) is agreed…
Norway-based geoscience firm TGS has agreed to buy seismic firm Polarcus' multiclient library, excluding Australia, for US$ 27.5 million and future share on library late sales. The move was described as enabling Polarcus to 'navigate the current challenging market environment…
Kazakh state-owned KazMunayGas (KMG) and Italian giant Eni finalized commercial terms to move 50% of the suboil use rights of the Isatay block in the Caspian Sea to Eni. Image from Eni. Isatay…
Norwegian oil firm has marked the start of construction work on the Johan Sverdrup development project - labelled the biggest industrial project in Norway for decades to come. Work started at Kværner in Verdal, Norway, today (Monday 29…
Speaking this week as the 2015 recipient of the Energy Institute (EI)'s Cadman Award, Malcolm Brinded, chairman of Shell Foundation, has called for increased focus on breakthrough technology and business innovations to respond to the challenges of international development…
German navigation system manufacturer Raytheon Anschütz announced new contracts for the delivery of Synapsis Integrated Navigation Systems (INS) to five 14,500TEU container vessels built at Hudong-Zhonghua Shipbuilding Co.. The new…
Odfjell Drilling awarded Aibel the yard stay contract for the rig Deepsea Bergen. The rig will arrive at Aibel's yard in Haugesund early autumn 2015. During the stay of approximately one month, Aibel will be performing various tasks in connection with special periodic survey…
The Petroleum Safety Authority Norway (PSA) has given Statoil consent to use the Scarabeo 5 mobile drilling facility for drilling and completing well 7121/4-G-4 H located at Snøhvit field. Scarabeo 5 is a type ME 4500 mobile drilling…
Independent Oil and Gas (IOG) is extending its seismic remapping agreement with Baker Hughes’ Reservoir Development Services (RDS) group to better understand resource potential for its Blythe and Cronx/Elgood projects in the Southern North Sea (SNS)…
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