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Archive of industry news from the global offshore industry

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July 2016

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Deals this week: Venari Resources, Mitra Energy, Pilot Energy, Flotek Industries 29 July 2016 Venari Resources LLC has acquired an additional 7% stake in the Shenandoah deepwater oil field located in the Gulf of Mexico,...

Shell makes new exploration discovery in US Gulf of Mexico 29 July 2016 Shell has made a new exploration discovery in the deepwater of the US Gulf of Mexico....

Report: Tamar field to lower Israel’s dependence on natural gas imports 29 July 2016 Israel's Tamar and Tamar Southwest discoveries are significant finds, with combined estimated proven and probable natural gas reserves of 10.97 trillion cubic feet (tcf) and 14 million barrels...

Petrobras to sell stake in exploration block to Statoil for $2.5bn 29 July 2016 Petróleo Brasileiro (Petrobras) has announced the sale of its stake in exploration block BM-S-8 in Brazil’s Santos Basin to Statoil Brasil Óleo e Gás for...

UK’s OGA to offer 1261 blocks in 29th offshore licensing round 28 July 2016 The UK Oil and Gas Authority (OGA) is offering 1261 blocks as part of the 29th offshore licensing round in a bid to support its objective of maximising economic recovery (MER) from the...

Oil prices plunge as producers increase output 28 July 2016 Oil prices have fallen due to companies increasing output and filled inventories....

Claxton to work for Statoil's Huldra platform in Norwegian Continental Shelf 28 July 2016 Acteon company Claxton has been selected to provide 'rigless recovery' of seven abandoned wells on Statoil-operated Huldra platform in the Norwegian Continental...

BP's underlying replacement cost profit for Q2 2016 falls to $720m 27 July 2016 BP has reported that underlying replacement cost profits for the second quarter of this year fell to $720m, down 44% from $1.3bn a year ago....

Oil prices edge down after API’s data reveals fall in crude stocks 27 July 2016 Oil prices have fallen after data released by the American Petroleum Institute (API) highlighted a drop in weekly stocks was less than expected, raising worries over persistent oversupply....

Statoil Petroleum wins drilling permit for 6407/7-9 S well 27 July 2016 Statoil has secured a permit from the Norwegian Petroleum Directorate to drill well 6407/7-9 S, 5km north of the Njord field in the Norwegian Sea....

Oil prices fall as supply glut may continue 26 July 2016 Oil prices have dropped towards $44 a barrel due to fears that a prolonged rebalancing of the market may be delayed due to oversupply....

Topside installation completed on Det norske's Ivar Aasen field 26 July 2016 Norway-based Det norske has announced the completion of topside installation on the Ivar Aasen field at UtsiraHight. ...

Technip to perform maintenance works on Repsol's North Sea subsea infrastructure 26 July 2016 Technip has secured a contract to carry out inspection, repair and maintenance (IRM) works on Repsol Sinopec Resources' North Sea subsea infrastructure in the UK....

Mitsui OSK signs contract for Gas Sayago-led FSRU project in Uruguay 25 July 2016 Mitsui OSK Lines' (MOL) wholly owned subsidiary Lakler has signed a 20-year contract for Gas Sayago-led floating storage and regasification unit (FSRU) project in Uruguay....

Shell to axe 190 jobs from Gulf of Mexico operations 25 July 2016 Shell has announced plans to cut 190 positions from its deepwater operations in the Gulf of Mexico....

Oil prices drop due to supply glut concerns 25 July 2016 Oil prices have fallen due to concerns that ongoing oversupply of crude and refined products may weigh on markets for some time....

Lundin Norway starts drilling campaign in Barents Sea 22 July 2016 Lundin Petroleum’s wholly-owned subsidiary Lundin Norway has started its exploration and appraisal campaign in the Loppa High area in the southern Barents...

Report: Cyprus seeks new exploration investment through third offshore licensing round 22 July 2016 Cyprus is offering blocks 6, 8 and 10 in its third offshore licensing round, which it hopes to attract more investments even as exploration budgets have been greatly slashed, according to a...

Noble Energy commences production at Gunflint oil field in Gulf of Mexico 22 July 2016 Noble Energy has started production at its Gunflint oil development located in the deepwater Gulf of...

M&As this week: MeeMaken, Skeye, Palfinger 22 July 2016 Netherlands-based investment holding company, MeeMaken, has acquired Kenz Figee Group in order to expand its investment...

Vestigo Petroleum to operate and maintain Berantai offshore field 21 July 2016 Petronas has appointed its wholly owned subsidiary Vestigo Petroleum to continue operations and maintenance of the Berantai offshore field....


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