News

  • Rosneft in US$1 billion Kurdistan Pipeline Deal

    Rosneft has completed its due diligence on infrastructure of the export oil pipeline in Iraqi Kurdistan (‘KROP”) and will shortly finalise the legally binding documents on oil pipeline project under the Investment Agreement signed at the St Petersburg International Economic Forum in June 2017.  …

    Read more
  • Latest Wisting appraisal well proves oil in the Barents Sea

    The semi-submersible Island Innovator has finished drilling appraisal well 7324/8-3 on the Wisting oil discovery in the Barents Sea.   According to the Norwegian Petroleum Directorate, the well was drilled in 396 metres (1,300 feet) of water in licence PL 537, two kilometres (1.2 miles)…

    Read more
  • Halliburton introduces new drill bit for high energy applications

    Halliburton has announced the release of GeoTech HE, a robust drill bit which incorporates new features and materials to deliver enhanced performance and increased reliability in today’s high energy drilling systems characterised by very high weight-on-bit and drilling torque.   Recent years have seen advances…

    Read more
  • New threats seen to Nigerian oil output

    A possible resumption of Niger Delta militancy threatens a five-month recovery in oil production in Nigeria, one of two wildcard members of the Organisation of Petroleum Exporting Countries warns an analyst at Verisk Maplecroft.   “Militant groups are running out of patience, the government is…

    Read more
  • Isle of Man launches offshore licence round

    The Isle of Man’s Department of Economic Development has opened an offshore licensing round.   This coincides with the UK 30th offshore round, which includes the Irish Sea area where the island is located, allowing exploration teams to take an overall view of the potential…

    Read more
  • Insurance Jottings

    Shareholder Notice dated the 15th September 2017: OIL’s Exposure to Hurricanes Harvey & Irma Over the past several weeks, Hurricanes Harvey and Irma have received unprecedented attention in the media because of their extraordinary size, power and damage potential attributes.   Harvey deposited more than…

    Read more
  • US offshore rig count inches up

    The US offshore rig count has risen to 17 active drilling units this past week, according to a report by Baker Hughes.   Baker Hughes Rig Count: US. -8 to 936 rigs US Rig Count is down 8 rigs from last week to 936, with oil…

    Read more
  • Statoil, Eni hire Bristow helicopters for Norwegian offshore ops

    Statoil and Eni have jointly awarded Bristow a contract for one SAR helicopter, and one transport helicopter, which can be converted to a SAR helicopter when needed. Both are Sikorsky S-92 helicopters.   Each contract has a duration of five years with options to extend by…

    Read more