News

  • P11-Unity platform installed offshore the Netherlands

    Heerema’s semi-submersible crane vessel Sleipnir has installed Dana Petroleum’s P11-Unity platform in block P11b in the Dutch North Sea.   At 395 metric tons (435 tons), this is said to be one of the world’s smallest platforms.   Heerema was contracted for the transportation and…

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  • BP fires up gas field offshore Egypt

    Oil major BP has started gas production from its latest development ‎offshore Egypt – the Qattameya gas field in the North Damietta offshore concession.   Through BP’s joint venture, Pharaonic Petroleum Company (PhPC), the Qattameya field has been developed ‎through a one-well subsea development and…

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  • Libya Reopens Last Major Oil Field

    Libya is set to restart the last of its major oil fields following a ceasefire in its civil war, a milestone for the OPEC member that’s been largely offline since January.   Oil dropped after the state energy firm lifted force majeure on exports from El Feel on the…

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  • Borders & Southern extends Falklands production licences

    Borders & Southern Petroleum has been granted an extension to its Falkland Islands licences.   The Company’s Production Licences, PL018, PL019 and PL020, which grant exclusive rights for surveying, drilling and production within the specified area, were due to expire on 31 October this year….

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  • Report: Deep-water one of the cheapest sources of new supply

    A comprehensive Rystad Energy analysis of oil production costs has revealed that the average breakeven price for all unsanctioned projects has dropped to around US$50/bbl, down around 10% over the last two years, and 35% since 2014.   This means that oil is much cheaper…

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  • Gasunie rolls out Porthos CO2 offshore pipeline set-up tender

    Dutch natural gas infrastructure and transportation company Gasunie is seeking a contactor for CO2 offshore pipeline installation from Port of Rotterdam to the riser of the offshore platform as part of the Porthos CCS project.   The Porthos project centres on the capture and storage…

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  • Alberta Ends Oil Sands Production Experiment

    Alberta’s two-year experiment with OPEC-style crude production curbs is coming to an end after a Covid-driven collapse in demand led the Canadian province’s battered oil-sands industry to idle more output than required.   A cap on production that’s currently at 3.81 million barrels a day…

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  • America Steps Forward To Expand Nuclear Power

    NextEra’s investment in renewables has helped it become the most valuable power company in the US, recently passing ExxonMobil in terms of market capitalisation. To continue capitalising on the broad trends driving the sector, it’s also making a multi-pronged foray into green hydrogen.   The…

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  • BW Offshore places BW Umuroa into voluntary liquidation

    The Board of Directors of BW Umuroa Pte Ltd (BWU), a wholly owned subsidiary of BW Offshore, has resolved to place BWU into voluntary liquidation.   BWU is the owner and operator of the FPSO Umuroa which is presently located on the Tui oil field offshore New…

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