Energy firm Point Resources, backed by private equity firm HitecVision, has hired investment bank BMO Capital Markets to find a minority partner in some of its oil fields in the North Sea, a document drawn up for the company shows. The Norwegian oil producer…
An oil discovery has been made at the Rabul 4 well in Egypt’s West Gharib Concession, SDX Energy Inc has revealed. The well was drilled to a total depth of 5,250 feet and encountered approximately 43 feet of net heavy oil pay across the…
Heerema Marine Contractors (HMC) has decided to discontinue offshore pipelay, following a review of the company’s position. The market remains highly competitive with significant overcapacity, the company said. Following the withdrawal, around 350 permanent jobs at HMC will be phased out. The…
The offshore part of the South Pars Phase 14 development will be completed by the end of the Iranian calendar year in March 2019, the Pars Oil & Gas Company has said. According to reports made by the Iranian news agency Shana, the first offshore…
Diamond Offshore Drilling Inc has launched Sim-Stack, the offshore drilling industry’s first cybernetic BOP (Blow Out Preventer) service. When issues arise, the service is said to determine immediately a proper course of action while providing a third-party statement of fact to the operator, BSEE,…
On the 18th April, China National Offshore Oil Corporation (CNOOC) sold cargoes of liquefied natural gas (LNG) on a domestic exchange for the first time, the latest step by China to boost supplies of the clean fuel as the nation shifts away from coal. …
Eni CEO Claudio Descalzi says that the oil giant will invest €7 billion (US$8.6 billion) in activities in its home country of Italy over the next four years. Mr Descalzi told investors on the 18th April that the investments will include €1 billion into…
Air Control Entech (ACE) and the Oil & Gas Technology Centre have launched three unmanned aerial vehicles (UAVs), designed to cut the costs of offshore oil and gas inspection by up to 50%. Most UAVs offshore are typically used for visual inspection. ACE’s focus…
Repsol has encountered oil offshore Gabon with the Ivela-1 exploration well. The Ivela-1 exploration well is located in the Lower Congo Basin, in Luna Muetse (E13) Block which has a net surface area of 1,200 square kilometres. Repsol is the operator of the offshore…
Independent Oil and Gas (IOG), has announced that it has now completed the acquisition of the Thames pipeline. Pipeline Acquisition Pipeline acquired from Perenco UK Limited, Tullow Oil SK Limited and Spirit Energy Resources Limited Recommissioning of the pipeline is an essential part of the…
