Fossil Energy
Reuters: Statoil needs more time for Johan Castberg concept
Norwegian oil giant Statoil is yet to decide on the concept for the development of the Johan Castberg field in the Barents Sea. As reported by Reuters today, Statoil’s CEO Helge Lund said that the company needs more time mature the concept adding it will not take long before Statoil reveals more inf
Rosneft men enter FESRC Board
On June 26, 2014 in Vladivostok Rosneft President, Chairman of the Management Board Igor Sechin took part in the annual general meeting of shareholders of the Far Eastern Shipbuilding and Ship repair center (FESRC); its Board of Directors is also headed by Igor Sechin. In the course of the AGM the a
Norway: Petroleum minister opens Statoil’s IOR centre
Norwegian Minister of petroleum and energy Tord Lien opened today Statoil’s new research centre for improved oil recovery (IOR) at Rotvoll in Trondheim, mid-Norway. A key element in reaching our 60% recovery rate ambition on the Norwegian continental shelf (NCS) is now in place. Statoil’s head of re
Danish oil production decline continues
In 2013 the Danish state generated revenue of about DKK 22.1 billion from oil and gas production, equal to about 63 per cent of total profits from activities in the North Sea.
Galp kicks off drilling TAO-1 offshore Morocco
Tangiers Petroleum Limited has advised that the Ralph Coffman jack-up rig started drilling operations at the TAO-1 exploration well, offshore Morocco on the 26th June 2014. The TAO-1 well is located within a proven petroleum system, adjacent to the Cap Juby heavy oil discovery and has been designed
Petrofac, First Reserve enter $1.25B JV agreement
Petrofac, the international service provider to the oil and gas industry, has entered into a Framework Agreement with First Reserve, the global energy-focused infrastructure investment firm, to create PetroFirst Infrastructure Partners. The new venture intends to deploy capital both in purchasing a
Fred. Olsen raises cash for newbuild ‘Bollsta Dolphin’
Fred. Olsen Energy ASA has signed a new six-year bank credit facility of up to $2 billion. The company said in the release that the credit facility will be used to repay existing bank loan, full-finance the newbuild Bollsta Dolphin semi-submersible drilling rig and for general corporate purposes. Th
ConocoPhillips extends ‘Volstad Princess’ charter
Volstad Shipping, a Norway-based owner of offshore support vessels, today announced a new charter deal with ConocoPhillips.
Sonardyne delivers heavy duty ORTs to Subsea 7
Subsea 7 has taken delivery of a consignment of acoustic release transponders and accompanying heavy duty release frames from Sonardyne International Ltd. The Oceanographic Release Transponders (ORTs) will be used, up to 17 at a time, to assist with the installation of 20 structures being lowered to
Opito unveils National Oil & Gas Skills Week (UK)
The UK’s burgeoning oil and gas industry, which employs upwards of 440,000 people and contributes billions to the economy, has unveiled plans for a nationwide initiative drawing people of all ages and from all walks of life together to discover what the oil and gas industry offers them. National Oil
North Energy farms into Tullow’s North Sea licence
North Energy has entered into an agreement with Tullow Oil Norge AS which gives it a 10 per cent holding in production licence 507. The operator is planning an exploration well on the “Lupus” oil prospect, with spudding scheduled for late June. This well will be drilled by Borgland Dolphin in about
Byron Energy: Gas shows at Gulf of Mexico well
Byron Energy Limited advises that yesterday at 11.50 am the Byron Energy SM 6 #1 BP01 well in the U.S. Gulf of Mexico was drilling ahead at 7,952 feet (2,424 metres) measured depth and 7,883 feet (2,403 metres) true vertical depth when an 1,800 unit gas show resulted in 250 psi on the surface choke.
ConocoPhillips’ crude shipping arm gets USCG award
The United States Coast Guard (USCG) today recognized Polar Tankers, Inc., a ConocoPhillips subsidiary, with the Rear Admiral William M. Benkert Osprey Award for Environmental Excellence. Vice Admiral Peter Neffenger, the USCG 29th Vice Commandant, presented the award at the American Petroleum Insti
PSA identifies need for internal auditing improvement at Faroe Petroleum
The Petroleum Safety Authority Norway (PSA) has carried out an audit of Faroe Petroleum AS as a licensee in development licences. The objective of the activity was to audit the company’s fulfilment of its licensee obligations. The main elements of the audit related to management systems, documentati