News

  • UK Continental Shelf production efficiency hits 80%

    Production efficiency on the UK Continental Shelf (UKCS) has improved for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target.   The Oil and Gas Authority (OGA) has published the 2019 Production Efficiency report which shows an impressive…

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  • Jadestone inching closer to control of Maari offshore New Zealand

    Jadestone Energy has received approval from the co-venturers to join the Maari production project offshore New Zealand as operator.   Earlier this year the company agreed to acquire a 69% interest from OMV.   Applications are progressing with regulators on other standard consents, and Jadestone…

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  • Gazprom Neft developing new production cluster in Western Siberia

    Gazprom Neft has begun its full-scale development of a major hydrocarbon cluster (with total potential resources estimated at 650 million tonnes of oil) covering licence blocks in the Khanty-Mansi Autonomous Okrug and the Tyumen Oblast in Western Siberia.   One million tonnes of liquid hydrocarbons have been produced at the project’s…

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  • Petrofac Wins Contract for 25 UKCS Wells

    Petrofac reported on the 29th July that its Engineering and Production Services (EPS) unit has won a two-year contract from NEO Energy.   The NEO Energy agreement calls on Petrofac to provide well management and well operator support  for 25 UK Continental Shelf (UKCS) production…

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  • Total sells Gabon assets to Perenco

    French oil major Total has decided to divest its portfolio of mature non-operated assets located offshore Gabon to Perenco.   Total said on the 30th July that its 58 per cent owned affiliate, Total Gabon, has signed an agreement with Perenco to divest its interests…

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  • How to Harvest Energy From Your Surroundings

    Life on Earth cannot continue without electrical energy, and a new form of renewable power which doesn’t need batteries is coming to the fore. In the near future, neutrinovoltaic devices will power every electrical appliance in the world, which Neutrino Energy Group founder Holger Thorsten…

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  • Rystad Foresees New Oil Supply Glut

    A new four-month oil supply glut of approximately 170 million barrels should result from the partial return in August of curtailed OPEC+ production, Rystad Energy predicts in a new analysis.   The consultancy bases its prediction on the assumption that “a mild second wave” of…

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