Fossil Energy
Sterling wrapping up second Cladhan well (UK)
Sterling Resources Ltd. has announced that the second oil production well (P2) in Cladhan field, in the UK North Sea, is currently being completed with the drilling rig expected to demobilize within the next two weeks. According to Sterling, the well encountered a reservoir section which was thinner
OGN Group: Energy Minister pays a visit
OGN Group, the offshore engineering, procurement and construction specialist, welcomed Energy Minister Matthew Hancock MP to its facility in North East England. Hancock was given a tour of the 32 hectare site, which is located in Wallsend on the banks of the River Tyne, and saw first-hand the techni
Norway: February oil production beats NPD’s prognosis
The Norwegian Petroleum Directorate (NPD) has reported that preliminary production figures for February 2015 indicate an average daily production of about 1 925 000 barrels of oil, NGL and condensate. This is 6 000 barrels per day (about 0.3 percent) less than in January 2015. Total gas sales were a
Interview: New WGPSN CEO sees strong opportunities for growth
Offshore Energy Today spoke with Dave Stewart, the recently appointed CEO of Wood Group PSN (WGPSN), a division of Wood Group, and a provider of brownfield services to the oil and gas industry. Starting April 2015, Stewart will move into this role from his previous position as UK managing director o
ConocoPhillips shelves $2B oil field development in Norway
ConocoPhillips has decided to cancel the development project for the Tommeliten Alpha discovery, offshore Norway. According to Aftenbladet, a Stavanger-based paper, the company has decided to shelf the $2 billion development in the Norwegian North Sea due to the low oil prices. The newspaper says it
Gallery: ‘Blue King’ on sea trials
Norwegian ship designer Ulstein has shared a couple of photos of the ‘Blue King’ platform supply vessel. The images show the vessel on sea trials, and according to Ulstein’s Facebook page, the vessel’s performance so far is “great”. According to Ulstein, Don Johansson, a member of the sea trial crew
Island Drilling swings to loss on impairment
Island Drilling, a Norwegian drilling contractor owning the Island Innovator semi-submersible drilling rig, has recorded a net loss of $51.5 million in the fourth quarter of 2014. The company has said that due to the general decline in the market values for drilling rigs, it has taken an impairment
Boskalis takes legal action against Fugro
Fugro, a Dutch provider of survey services to the international offshore oil and gas industry, has been taken to court by its shareholder Boskalis. According to Fugro, Boskalis is looking to force a shareholder vote at its annual shareholders meeting slated for April 30, 2015. The vote would be held
Oil & Gas UK asks for permanent changes to tax regime
At yesterday’s meeting with Shadow Chancellor Ed Balls and his team, Oil & Gas UK has underlined the urgent need for regulatory and fiscal reform and improvements in cost efficiency to restore the international competitiveness of the UK oil and gas industry. Malcolm Webb, Oil & Gas UK’s chief execut
Reach Subsea inks deal for ‘Edda Fonn’
Reach Subsea has entered into a contract with an international client for the vessel Edda Fonn. The operations in the Mediterranean will start first of April and the period is firm for 120 days, plus 60 days options. “We are satisfied with the contract award, that will improve the utilisation of the
Island Offshore puts off newbuild deliveries
Norwegian shipowner Island Offshore has agreed to delay deliveries of all of its under-construction vessels at Vard, except one. In its quarterly statement, the company has said it has agreed with Vard Brevik to delay delivery of all the new building vessels with an average delay of six months, exce
Report: Total to extend exploration works offshore Cyprus
French oil company Total could give it another shot with searching for gas offshore Cyprus, the Mediterranean country’s energy ministry has said. To remind, it was reported in January this year that Total would not proceed with exploration in its 10 & 11 offshore blocks southwest of Cyprus, as it wa
AOG Summit to focus on opportunities for O&G development in Adriatic
The inaugural two-day Adriatic Oil & Gas Summit (AOG) has started today, March 10, 2015 in Budva, Montenegro. Held under the patronage of the Ministry of Economy of Montenegro and the Ministry of Economy and Energy of Albania, the summit will focus on the offshore oil and gas investment opportunitie
Wood Mackenzie sold for $2.8 billion
Verisk Analytics, Inc., a data analytics provider, today announced it has signed a definitive agreement to buy Wood Mackenzie from Hellman & Friedman and other Wood Mackenzie shareholders. The purchase price is £1.850 billion – approximately $2.8 billion – and it will be paid in cash. Wood Mackenzie