The company expects startups of 2016 and 2017 projects to put in place 500,000 barrels per day of new net BP capacity by year-end 2017.
The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’
It’s not deep. It’s not hostile. It’s just unexplored.
Known as the ‘Land of Fire,’ Azerbaijan has an oil and gas pedigree that is second to none, but with production declining, its offshore sector needs to heat up.
A study provides Norway with insight on a development concept the region has not used as much as others across the world.
Norway’s Polarcus has been hired to conduct a 3-D marine seismic survey offshore Egypt.
Various subsea equipment will be delivered throughout 2015 and 2016.
GE Oil & Gas has invested more than $20.5 million across its subsea manufacturing facilities in Montrose, Scotland, in a move to enhance its business’s test and assembly and manufacturing capabilities.
Ceona has successfully installed a 570-mt multiple pipelay vertical lay system (VLS) and twin 400-mt cranes onto its next-generation flagship asset, the Ceona Amazon.
Kosmos Energy is taking a fresh look at a handful of new and existing exploration prospects in frontier waters offshore Ireland, according to partner Europa Oil & Gas.
Steve O’Connor, global lead for geopressure at Ikon Science, said that the new integrated service will provide a continuous unbroken set of pressure profiles from sea bed to total depth.
Norway is hoping the new areas will help boost a sector that has been shedding projects, costs and jobs due to a 57 percent decline in crude prices since mid-2014.
Mazarine will seek low cost, low-risk investments in onshore fields in Romania and North Africa, chairman and founder Edward van Kersbergen told Reuters. CIEP acquired Romanian assets in March 2015.
Statoil will have a 50% interest in the Banarli licenses, while the operator Valeura Energy Inc., a Canadian exploration company, will keep the remaining 50%. The shallow formations above 2,500 meters will be 100% retained by Valeura, Statoil said.
PA Resources Tunisia Ltd., Hydrocarbures Tunisie Didon Ltd., Hydrocarbures Didon Jersey Ltd. and Hydrocarbures Tunisie Corp., subsidiaries of Sweden’s PA Resources AB, will sell their license interests onshore and offshore Tunisia.
The extension of reservoirs in the eastern extent of the SNE Field, more than 5 kilometers (km) to the east and downdip of SNE-3 was confirmed.
Larne Basin has broad similarities to Carboniferous-sourced East Irish Sea Basin to the southeast, which has produced more than 200 MMbbl of oil and 4 trillion cubic feet of natural gas.
Subsea Trans Adriatic Pipeline, part of corridor that will link Azerbaijan's giant Shah Deniz II Field with Italy, is largest project bringing new gas supplies to European consumers, Reuters reported.
Kazakhstan’s oil Kashagan project will likely be launched in June 2017, Wang Zhongcai, the first vice president of China National Petroleum Corp, told reporters April 21 at an energy conference in Moscow.
A damaged turret bearing means a scheduled maintenance shutdown will take another two weeks and production flows will take even more time to ramp-up, Tullow said.
Hansa Hydrocarbons has taken its first steps into the Danish offshore sector with the provisional award of two new licences in the country’s seventh licensing round.
Statoil has been awarded six licensing options in Ireland’s 2015 Atlantic Margin Licensing Round. Statoil will operate four of the licensing options and partner in two operated by Exxon Mobil.
The Aberdeen region has been given a £504 million (US$727 million) boost as it faces up to the oil price crisis. The funding will be paid over the next five to 10 years to improve infrastructure and attract jobs.
Ending a saga worthy of a James Joyce novel, Shell has finally brought the Corrib Field offshore Ireland onstream, more than 15 years after project consents were first issued.
Wintershall is looking to boost oil and gas production from its core areas including Russia, Norway and the UK while also expanding activities in Argentina, new company chairman Mario Mehren told the World Gas Conference in Paris.
The report is due to be ready by Sept. 30 and will be published after this date, the firm in a statement. The Norwegian Accident Investigation Board is conducting its own investigation and published a preliminary report May 13.
An investigation into the cause of a fatal North Sea helicopter crash is focusing on the parts of the aircraft that connected the rotor blades to the main body of the helicopter, investigators said May 13.
InterOil remains confident about enhancing shareholder value through strategic plans including completing appraisal of Elk and Antelope fields to draw LNG from Papua New Guinea's biggest undeveloped gas deposit, Reuters reported.
First-quarter EBITDA rose 45% to $125 million, well above a mean forecast for $66.9 million in a Reuters poll of analysts.Lundin swung to a net profit of $114 million.
Technip has been awarded an engineering services contract by Woodside to provide multi-disciplinary engineering services as part of an engineering panel. This contract covers all Woodside operated onshore, offshore and subsea producing assets.