Fossil Energy
DW: Supermajors’ Q1 earnings to be ‘weakest in recent memory’
Despite major cost reduction measures, Q1 2015 earnings for supermajors are expected to be the weakest in recent memory, Douglas Westwood, an energy intelligence group writes in its “DW Monday” report. Operational and financial indicators for FY 2014, however, reveal that recent performance amongs
Statoil hits gas in Roald Rygg prospect (Norway)
Operator Statoil has together with PL602 partners made a gas discovery in the Roald Rygg prospect in the Norwegian Sea. This is the second discovery made by Statoil in the Aasta Hansteen area spring 2015. The drilling of the Roald Rygg well 6706/12-3 started on March 22, 2015 with a Transocean Spits
Ithaca completes final well test at Stella field
Ithaca Energy Inc. has announced the successful completion of flow test operations on the fifth and final development well on the Stella field in the UK North Sea, with the well achieving a flow rate of over 8,000 barrels of oil equivalent per day (“boepd”). Well 30/6a-A3Y (“A3”) is the fifth develo
Aker Solutions, Fjords Processing create alliance
Aker Solutions and Fjords Processing have formed an alliance to develop technology and capabilities for “advanced, cost-effective wellstream separation and treatment solutions” for the subsea and topside oil and gas industry. The WellSep alliance will apply Aker Solutions’ subsea processing experien
Nexans’ umbilicals to power Statoil’s Gullfaks compression station
The Statoil-operated Gullfaks gas field in the Norwegian Sea will rely on Nexans’ power umbilicals combining power, fiber-optic and hydraulic lines in a single cross section. According to Nexans, the cables were handed over to Statoil this month. The subsea gas compression station will be installed
E.ON hires Jee for subsea services in North Sea
Jee Ltd, a subsea engineering and training firm, has secured a contract with E.ON Exploration and Production (E.ON E&P), to deliver subsea integrity management and engineering services for its UK North Sea assets. The three year contract, involves Jee supporting E.ON E&P’s Subsea Technical Authority
IKM testing wins Mariner topside contract from Statoil
Statoil has awarded IKM Testing, a Norwegian supplier to the oil and gas industry, a contract for commissioning services on the Mariner topside project. On the topside, IKM Testing will do the N2/He leak testing, but the contract leaves options for bolt work, hot oil flushing, chemical cleaning and
Popular news, April 6 – 12, 2015
Last week’s news revolved around an oil major, Royal Dutch Shell, and its activities related to Arctic drilling and Shell’s planned take over of UK-based oil company, BG Group. Six Greenpeace activists boarded the Polar Pioneer, a drilling rig destined to drill for Shell in the Chukchi sea, offshore
Unite warns Shell and BG against job cuts
Britain’s largest union, Unite, warned against crude cost cutting and job cuts following Wednesday’s announcement of the deal between Royal Dutch Shell and BG Group. With workers in Shell’s North Sea operations already facing a raft of job cuts and the two companies talking of the need to achieve ‘s
Fitch: Shell-BG acquisition to trigger wave of energy deals
Royal Dutch Shell’s acquisition of BG Group agreed Wednesday could spark a wave of energy deals beyond the opportunistic ones already seen, Fitch Ratings says. The deal signals that Shell has confidence in the sector and is positioning itself for the sector’s recovery. Shell’s competitors are likely
ONS figures show serious decline in UK oil & gas industry profitability
UK’s Office for National Statistics (ONS) has published yesterday (April 9, 2015) its report on profitability of UK companies in the Q4, 2014. According to Oil & Gas UK, the figures show the continuing serious decline in profitability of the UK oil and gas industry. The figures show that the estimat
Aker Solutions: No more staff cuts in MMO sector
Aker Solutions, a Norwegian oil services company, has denied Norwegian media writings on the company’s alleged plans to cut more staff in Norway. The engineering company rebuffed what it claims are “misleading stories” about supposed staff cuts in maintenance, modifications and operations (MMO) sect
Green light to Talisman for North Sea wildcat
The Norwegian Petroleum Directorate (NPD) has granted Talisman Energy Norge AS a drilling permit for well 15/12-24 S, in the North Sea. Well 15/12-24 S will be drilled from the Maersk Giant jack-up drilling rig, just northeast of the Varg field in the central part of the North Sea. The drilling prog
Det norske gets approval to drill North Sea well
The Norwegian Petroleum Directorate has granted Det norske oljeselskap AS a drilling permit for well 16/1-22 S, in the Norwegian part of the North Sea. The oil company will drill the well using the Maersk Interceptor jack-up rig in production licence 001 B, after completing the drilling of appraisal