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Industry takes stock of collaboration efforts to drive Vision 2035

Industry takes stock of collaboration efforts to drive Vision 2035   Around 80 people attended a key industry event today (Friday, December 7) where collaborative success stories between operators and the supply chain were showcased as part of a shared ambition to add a generation of productive life to the UK Continental Shelf. Oil & Gas UK’s Efficiency Task Force (ETF) hosted the joint event with Shell U.K Limited in a bid to share best practice and learnings on how comp...

The green light to historically profitable project

The green light to historically profitable project   The Ministry of Petroleum and Energy has approved the plan for development and operation (PDO) of the Troll Phase 3 development. Capital expenditures of NOK 7.8 billion will help extend the productive life of the Troll field beyond 2050. A unique oil and gas field globally Troll generates highly important to value for the Norwegian society. Since it came on stream in 1995 the field has generated an estimated NOK 1400 billion, i.e...

Repsol plans 50% increase in Marcellus gas production

Repsol plans 50% increase in Marcellus gas production   Spanish oil major Repsol said Thursday its shale gas production in the Marcellus Shale play could grow by 50% by the end of 2020, Kallanish Energy learns. Speaking at an industry conference in New York, Repsol’s executive director for North America, Paul Ferneyhough, said the goal can be achieved with the addition of just one rig and investment of roughly $400 million a year. “We are going to be able to raise pr...

Scotland’s economic growth in 2019 is forecast to fall behind the UK as the labour market weakens and business investment falters – EY Scottish ITEM Club

Scotland’s economic growth in 2019 is forecast to fall behind the UK as the labour market weakens and business investment falters – EY Scottish ITEM Club   Friday, 7 December 2018: Following a strong performance in 2018 Scotland’s economic growth is forecast to fall in 2019 as pressure on the labour market intensifies and business investment remains subdued, according to the EY Scottish ITEM Club 2019 Forecast published today. While Scotland’s economy outper...

UK's Tullow oil seeking partners in bid for additional Ghana block

UK's Tullow oil seeking partners in bid for additional Ghana block   UK oil explorer Tullow Oil (TLW.L) is seeking partners in a bid to acquire a new oil block in Ghana which launched its first oil bidding round in October, the company’s managing director Kweku Awotwi said on Thursday. Tullow is already lead operator of two oil fields in Ghana including its flagship offshore Jubilee field, with cumulative output currently at around 160,000 barrels per day, Awotwi told rep...

Latest industry collaboration efforts to be unveiled at key event

Latest industry collaboration efforts to be unveiled at key event   The results of a survey studying collaboration across the UK’s oil and gas industry in efforts to unlock efficiencies will be published this month – crucial to extending the life of the basin and achieving Vision 2035. Jointly led by Oil & Gas UK and Deloitte, the Supply Chain Collaboration Survey explores the motives and effectiveness of collaboration between supply chain companies and operators....

Strategic appointment for oil and gas recruitment specialist Carlton Resource Solutions

Strategic appointment for oil and gas recruitment specialist Carlton Resource Solutions   Carlton Resource Solutions has strengthened its senior management team with the addition of a highly experienced director to a key strategic role. With 22 years’ experience in oil and gas recruitment, Doug Robertson has joined the Aberdeen-based business as operations director with a remit to enhance the firm’s capabilities through his expertise both in the UK and internationally....

Sparrows signs five-year servicing order with Pemex Procurement International, Inc.

Sparrows signs five-year servicing order with Pemex Procurement International, Inc.   Sparrows Group has signed a five-year blanket order with Pemex Procurement International, Inc. acting on behalf of Pemex Exploracion y Produccion (PEP) to service 41 of its cranes situated on assets in four of the Mexican national oil company’s developments in the region. As the original equipment manufacturer (OEM), the first cranes were delivered by Sparrows in the early 1990s to support p...

OPEC Dec 6th Vienna meeting preview: Agenda and timings

OPEC Dec 6th Vienna meeting preview: Agenda and timings   The much-awaited meeting of the Organisation of Petroleum Exporting Countries (OPEC) is due on the cards later today that will have a significant impact on the oil price-action in the coming months. All the Heads of the 15 OPEC members will meet to discuss a range of issues regarding energy markets. However, the main agenda this time is to decide on the OPEC oil output policy, whether the existing output cuts should be exten...

North Sea operator speeds up P&A campaign by running Churchill’s Mud Shear Sub™

North Sea operator speeds up P&A campaign by running Churchill’s Mud Shear Sub™   Churchill Drilling Tools, a leading oilfield service company specialising in drilling innovation, has revealed that one of its specialist tools, the Mud Shear Sub™, significantly improved the mud conditioning process for a major North Sea operator during a recent P&A campaign; so much so the operator began subsequent retrieval operations ahead of schedule. Saving an average o...

Baker Hughes wins Saudi Aramco deal

Baker Hughes wins Saudi Aramco deal   Baker Hughes has won a stimulation and well testing contract from Saudi Aramco lasting three years, the US oilfield services major said on Tuesday. The goal of the contract is to expand and optimise production in Aramco’s existing fields at both new and existing wells, and work is expected to begin this month. “The contract further reinforces our integration efforts across conventional fields in Saudi Arabia, helping maintain cap...

Eco Atlantic Oil & Gas to commence drilling offshore Guyana in 2019

Eco Atlantic Oil & Gas to commence drilling offshore Guyana in 2019   Eco Atlantic Oil & Gas confirmed on Wednesday that it will drill its first Guyanese exploration well at the Jethro-Lobe offshore prospect as part of its 2019 programme. In a statement, the company said it will aim to drill at least one well at the prospect, which is 1,350 metres underwater and described as “an upper cretaceous stratigraphically trapped canyon turbidite”, in late May or early J...

Boosting Vigdis

Boosting Vigdis   The subsea field Vigdis has been producing oil through the Snorre field for more than 20 years. Field production will now be boosted by almost 11 million barrels. Equinor and its partners have decided to invest some NOK 1.4 billion in Vigdis boosting station, expected come online in the first quarter of 2021. “This is an improved oil recovery project which includes a multiphase boosting station that will increase production from existing wells. This adds...

Lloyd’s Register unveils AllAssets to digitalise inspection and maintenance for the oil and gas sector

Lloyd’s Register unveils AllAssets to digitalise inspection and maintenance for the oil and gas sector   Delivering operational efficiencies and reducing costs is now a reality for industry. Lloyd’s Register (LR), a leading global provider of engineering and technology-centric professional services, today launched AllAssets, an innovative SaaS-based Asset Performance Management (APM) platform, making optimisation for inspection and maintenance a reality. As organisat...

Oceaneering Enhances Global Asset Integrity Capabilities

Oceaneering Enhances Global Asset Integrity Capabilities   Oceaneering International, Inc. (“Oceaneering”) announced it has bolstered its expanding asset integrity business in Chandigarh, India with more capabilities. The engineering support team is expected to grow to from 13 to around 30 full time engineers by the end of 2019. The team provides highly experienced and specialized competency across all integrity engineering trades, enabling standardization, service exce...

Electrical Specialists Set to Spark Growth Thanks to Alliance

Electrical Specialists Set to Spark Growth Thanks to Alliance   A leading Aberdeen-based electrical company has announced a strategic alliance which will play a key role in developing its international product portfolio. AEL is an international brand providing electrical products and services to the onshore, offshore, renewable, petrochemical, marine and industrial sectors. Its global capability to offer a broad range of electrical products and services has now be enhanced thanks t...

Equinor strengthens its position in the Norwegian Sea

Equinor strengthens its position in the Norwegian Sea   Equinor and Faroe Petroleum have agreed a number of transactions in the Norwegian Sea and the North Sea region of the Norwegian Continental Shelf (NCS). These transactions are calibrated as a balanced swap when it comes to value with no cash consideration. “The net effect of our agreement with Faroe is to upgrade Equinor’s portfolio in line with our updated roadmap for the NCS. We are strengthening our operated...

Weatherford Completes Sale Of Saudi Arabia Land Drilling Rigs

Weatherford Completes Sale Of Saudi Arabia Land Drilling Rigs   Weatherford International plc have announced it has completed the sale of its Precision Drilling Services Saudi Arabia ("PDSSA") land drilling operations, including 11 drilling rigs, 923 employees and associated customer contracts to ADES International Holding Ltd. for $92.5 million in cash. In July 2018, a subsidiary of Weatherford signed definitive agreements with ADES International Holding Ltd. for the sal...

North Sea oil and gas firm underlines commitment to invest in area

North Sea oil and gas firm underlines commitment to invest in area   Oil and gas independent RockRose Energy has underlined its ambition to increase production in the UK after bringing a well onstream in the Dutch North Sea. RockRose said the A18-A5 well had been completed on time and within budget in a success which will help underpin the company’s production for the next two years. Executive chairman Andrew Austin noted the results of the well exceeded pre-drill expectat...

Argentina in US$2.3bil joint shale oil project with Petronas

Argentina in US$2.3bil joint shale oil project with Petronas   Argentina's state-controlled energy company YPF and Malaysia's Petronas are forming a joint venture to invest US$2.3 billion over the next four years in the country's Vaca Muerta shale oil fields, the president's office announced on Tuesday. State-owned Petronas will have an equal stake in the project through its subsidiary Petronas E&P Argentina SA, the presidency said in a statement. Petronas has n...
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