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Faroe Petroleum generates excitement with Shetland exploration prospect

Faroe Petroleum has shown faith in the exploration potential of the UK North Sea by agreeing to buy into acreage East of Shetland after focusing recent investment on Norway.Aberdeen-based Faroe is farming in to a well targeting prospects it is thought may contain up to around 100 million barrels in total.The oil and gas firm leading well operations, Azinor Catalyst, expects to start drilling on the licence concerned this month.Aim-listed Faroe will fund 25 per cent of the expected $15m cost of t...

Offshore discoveries in the Mediterranean to increase Egypt’s gas output

Natural gas production in Egypt has been in decline, falling from a 2009 peak of 5.8 Bcfd to 3.9 Bcfd in 2016, based on estimates in BP’s Statistical Review of World Energy. The startup of a number of natural gas development projects located offshore in the eastern Mediterranean Sea near Egypt’s northern coast has significantly altered the outlook for the region’s natural gas markets. Production from these projects could offset the growing need for natural gas imports to meet d...

Aker secures more hook-up and commissioning work

Norwegian oil services company Aker Solutions, in partnership with Kvaerner, has secured additional hook-up and commissioning work for Equinor’s Johan Sverdrup offshore field in the North Sea. The scope of works under the original contract included hook-up and commissioning work of the field’s utility and living quarter platform, as well as conducting preparatory offshore work for the phase two modifications of the riser platform. The new contract is secured by exercising an op...

Oxford Flow expands global reach with trio of senior hires

Oxford, UK and Houston, TX, 14 August 2018 – Oxford Flow, the pressure control equipment specialist for the oil and gas, water and industrial process industries, is bolstering its team with three senior hires for the US and Europe, Middle East and Africa (EMEA). The appointments will enable the company to grow its market share across the regions. Howard Williams has been appointed as Group Business Development Director to spearhead the company’s global sales efforts across the oil...

ConocoPhillips to cut workforce in September

US independent ConocoPhillips will undergo “modest workforce reductions” in mid-September, the company confirmed on Monday.A corporate spokesperson said employees had already been informed of the cuts and that the move will primarily impact workforces in Houston and the Lower 48.“ConocoPhillips has undertaken a series of cost-reduction measures over the last few years in response to the downturn, including exiting higher cost of supply lines of business and divesting several non-core assets,” a...

Petrofac awarded Basra Oil Company EPC contract

Petrofac has been awarded a contract worth around $370 million by Basra Oil Company (BOC) for expansion of the Central Processing Facility (CPF), located in Majnoon field, Southern Iraq. Under the terms of the 34-month contract, the lump-sum engineering, procurement and construction (EPC) project scope of work includes two oil processing trains, able to process 200 kbopd. Petrofac was previously awarded a contract in 2011 and delivered engineering, procurement and construction management f...

Independent engineering company Infinity sees record growth following contract award from Apache North Sea Ltd on the Seagull development

Infinity has been awarded a substantial contract for the Seagull development, a subsea tie-back to a third-party platform. The project will see Infinity support the pre-FEED & FEED providing production assurance, pipeline integrity engineering and subsea technical assurance on behalf of Apache. The Seagull win comes amid a period of sustained growth for Infinity who has added a further four engineers to their team in recent months. To support this success, Infinity’s engineering div...

Take a 360 virtual tour and experience life on an oil rig

Have you ever wondered what life is like on an oil rig in the North Sea? In his immersive video, one worker takes you around the Shearwater platform. You control the camera - look up, down, and around, and experience life aboard an oil rig. Shell is celebrating its 50th anniversary of operating in the North Sea.

Ampelmann steps up North Sea activity with six new contracts

Ampelmann, the global leader in offshore access solutions, has strengthened its position in the North Sea this year after being awarded four new contracts and two extended scopes of work in the basin. The projects will see six E-type gangway systems deployed for planned shutdown campaigns and ongoing fabric maintenance support by different major operators across the UKCS. Utilising motion compensation technology, Ampelmann’s E-type is the largest system in the company’s portfol...

Zenith Energy Completes Geological Studies In Azerbaijan

Zenith Energy Ltd said Monday it completed two geological studies at oilfields in Azerbaijan. The oil & gas production company completed two comprehensive geological studies to "optimise the selection of potential drilling locations and workover opportunities" in the Muradkhanli, Jafarli and Zardab oilfields. At the Muradkhanli and Jafarli oilfields the company was able to identify a new mesozoic carbonate prospect running across the fields. The study also provided the com...

ENGenious is the must-attend digital event for the upstream industry, says Malcolm Frank, author and Chief Strategy Officer of Cognizant

Malcolm Frank, Executive Vice President, Chief Strategy Officer and Chief Marketing Officer of Cognizant and co-author of the 2014 best-seller “Code Halos” and 2017’s “What to do When Machines do Everything” has been announced as keynote speaker at the opening plenary of ENGenious, the new global symposium and exhibition aimed at driving radical digital and technological transformation across the upstream oil and gas industry. “ENGenious is the must-attend...

Neptune Energy Group Agrees to Acquire UK Central North Sea Assets

Neptune Energy Group (“Neptune”) announced today that it has entered into a Sale and Purchase Agreement to acquire certain development and exploration assets in the UK Central North Sea from Apache North Sea Limited (“ANSL”), a wholly owned subsidiary of Apache Corporation (“Apache”). Neptune will acquire Apache’s 35% working interest in the Seagull development and a 50% working interest in the Isabella prospect; both operated by ANSL. The proposed tr...

DNV GL appoints Tim Roff to lead expansion in the UK onshore gas sector

London, 13 August 2018 :  DNV GL, the technical advisor to the global oil and gas industry, has appointed Tim Roff as market sector leader for the UK onshore gas industry. His role will focus on developing and introducing new DNV GL services to the owners and operators of the gas network infrastructure. Tim has more than 25 years' experience in technical, managerial, and commercial roles and he previously worked with the HSE and the Health and Safety Laboratory. He joins DNV GL with...

Iran and Russia sign major deal for Caspian Sea

IRAN and Russia have agreed with three other ex-soviet nations how to divide up the oil and gas resources of the Caspian Sea leading the way for more energy exploration.The Caspian Sea area is the the world’s biggest enclosed body of water and the five nations, Russia, Iran, Kazakhstan, Turkmenistan and Azerbaijan, have argued over its divide for almost 30 years.Some of the dispute, on the delimitation of the seabed, will require further negotiating.The timely deal follows a vow made by US presi...

AIS Training wins multi-million pound contract with Cape

Global training specialist, AIS Training has secured a five-year contract with critical industrial services provider, Cape to manage and deliver all of their out-sourced training requirements in the UK.The multi-million-pound contract, which began last quarter, will see AIS Training providing a wide range of industry-accredited technical and safety-critical skills courses and competency assessments to Cape’s 5,000-strong UK workforce. As well as delivery, the contract will include management of...

Frackers Burning Cash to Maintain U.S. Oil Boom

American oil companies—primed to reap the benefits of rising prices after years of wringing more from wells for less—are seeing profits erode in the face of rising costs.Those operational challenges make balancing lofty growth objectives and demands for fiscal restraint increasingly difficult. If the companies continue to stumble, the result could be a higher cost of capital to finance the ongoing U.S. energy boom or a slower pace of growth.Two-thirds of U.S. oil producers failed to live within...

Strike to go ahead at Total North Sea platforms Monday

The UK's Unite trade union is set to go ahead with a 12-hour strike Monday at Total's North Sea oil and gas platforms as a dispute over shift patterns continues, while a separate dispute at the Shetland Gas Plant has been resolved, the union said. Monday's strike will be the fourth strike day in the dispute, some of them for 12 hours and some 24 hours. The dispute, suggesting a greater willingness by unions to flex their muscles, comes as major North Sea producers have declared...

Barclays describes offshore oil drillers as ‘most overvalued group’

Barclays analyst J David Anderson has found that shares in offshore drilling companies have risen 40% since March, describing them as the ‘most overvalued group’ in the Barclays ‘coverage universe’.Anderson, who downgraded US company Noble Energy  to an ‘underperform’ rating yesterday, initially raised his price targets for the group.Since then, however, he has recorded underweights for all five of the major offshore drilling companies, namely NE, Diamond Offshore Drilling, Ensco, Rowan Com...

RockRose Energy buys Dana Petroleum’s stake in Arran field offshore UK

Oil and gas company RockRose Energy has entered into a sale and purchase agreement to acquire 20.43% stake in the Arran field offshore UK from Dana Petroleum, the operator of the field. The field is located in the East Central Graben of the UK Central North Sea. The agreement covers 23/11a, 23/16b and 23/16c blocks of the field but does not include operatorship of the development. RockRose plans to fund its share of the Arran field’s planned development through its existing cashflow....

Kvaerner and Aker Solutions land Hook-up on the Johan Sverdrup

Kvaerner has landed further work on Equinor’s under-development Johan Sverdrup field off Norway covering hook-up and commissioning of the utility and living quarters platform in a joint venture with affiliate Aker Solutions. The pair, both owned by the Aker group, have also gained offshore work related to modifications of the riser platform under phase two of the giant North Sea project, which is being developed with the installation of four facilities under the first phase. The late...
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