Royal Dutch Shell is cutting about 250 UK North Sea operations staff and agency contractors, Reuters said. In August, 250 were cut. Other large E&Ps cut their North Sea staff.

The interests in OML29 and the Nembe Creek Trunk Line were assigned to Aiteo Eastern E&P Co. Ltd. Total cash proceeds for Shell amount to some $1.7 billion.

Field operator BP declared force majeure March 16 after a power loss at the FPSO PSVM offshore facility that feeds oil from Plutao, Saturno, Venus and Marte fields, Reuters said.

Superior is interested in assets Baker Hughes Inc. and Halliburton Co. must sell during their merger, Bloomberg said. Superior, seeking international exposure, will become the fourth-largest oilfield services company.

Iran is seeking a final agreement with international powers by June that would curb its nuclear program in exchange for phasing out sanctions that have cut its crude exports, choked cash flow and halted most oil investment. 

A succession of high-profile speakers at the annual SPE/IADC Drilling Conference in London lined up to outline some of the long-term measures their companies have undertaken to raise their game.

Four ways to accelerate automation in the oil and gas sector is to eliminate, simplify, standardize and virtualize, according to a Siemens engineer.

In a short statement to the market this morning, Woodside advised it took the precautionary measure after a drilling rig, which had been contracted to another party, became loose and drifted near gas flowlines at Pluto LNG.

Shell's only remaining exploration project in Ukraine is the Yuzivska well, which has been under force majeur since the summer of 2014 due to the conflict in the country. 

Under the name Africa Energy Corp., Horn Petroleum Corp. will focus on onshore and shallow-water opportunities in Africa, initially on Sub-Saharan Africa.

BMT Group Ltd., a maritime design, engineering and risk management consultancy, has agreed to purchase Navegação e Controle Indústria e Comércio Ltda (NavCon), a Brazilian specialist in monitoring systems for the offshore oil and gas industry, according to a news release.

oil

Technology and asset sales are among the areas the company is focusing on in today’s low-price environment as it continues to grow production while strategically lowering capex costs.

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