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Archive of industry news from the global offshore industry

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July 2014

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Oil falls below $106 on increased OPEC oil output
31 July 2014 Brent crude fell below $106 a barrel today on increased oil output from the Organization of the Petroleum Exporting Countries...

Rosneft and NADL sign offshore drilling contracts
31 July 2014 Russian oil firm Rosneft and North Atlantic Drilling (NADL) have signed long-term offshore drilling contracts....

EU targets Russian oil sector with new sanctions
31 July 2014 The European Union (EU) has agreed a package of additional restrictive measures against Russia, targeting the country’s oil sector, over its involvement in the Ukraine...

US calls for nominations for potential oil and gas lease sale
30 July 2014 The US Bureau of Ocean Energy Management (BOEM) has issued a call to nominate buyers for potential oil and gas lease sale 242 at the upcoming Beaufort Sea Planning Area (BSPA) off the coast...

Brent trades around $108 on ample supplies
30 July 2014 Brent crude oil traded around $108 a barrel today as ample supplies and political tensions in the Middle East, Africa and Europe offset each...

Saipem secures $540m worth of offshore drilling contracts
30 July 2014 Saipem has secured new offshore drilling contracts worth $540m from clients operating offshore Indonesia, Nigeria, the Arabian Gulf and West...

Oil prices drop towards $107 amid geopolitical tensions in Middle East, Africa and Europe
29 July 2014 Brent crude fell towards $107 a barrel today amid geopolitical tensions in the Middle East, Africa and Europe, which generated ample supply of...

HHI awards contract to KBR for Al-Nasr full field development project offshore Abu Dhabi
29 July 2014 Hyundai Heavy Industries (HHI) has awarded a contract to KBR to perform engineering design services for the Abu Dhabi Marine Operating Company’s (ADMA-OPCO) Al-Nasr full field development...

Turkey approves EIA for South Stream project’s offshore section
28 July 2014 The Turkish Ministry of Environment and Urban Planning has approved the environmental impact assessment (EIA) report for South Stream's offshore pipeline...

Lime Petroleum surrenders three North Sea licenses
28 July 2014 Lime Petroleum Norway has decided to surrender three licenses located in the North Sea, following the deadline for a drill or drop decision by 23...

Today’s oil prices drop as Gaza fighting abates
28 July 2014 Oil prices dropped today as Israel eased its assaults in Gaza, backing a 24-hour humanitarian truce, while experts believe that reductions are...

Octanex secures finance to develop Ophir field offshore Malaysia
25 July 2014 Oil and gas exploration firm Octanex has secured limited recourse project finance for the Ophir field development, offshore Terengganu,...

Brent trades around $107 amid tensions in oil producing regions
25 July 2014 Oil traded around $107 a barrel on Friday amid tensions in oil producing regions, which failed to take the prices...

N-KOM secures contracts from Gulf Drilling International
25 July 2014 Nakilat-Keppel Offshore & Marine (N-KOM) has secured two contracts worth $110m from Gulf Drilling...

Oil drops below $108 on weak demand from European refiners
24 July 2014 Brent crude dropped below $108 a barrel today due to weak demand from European refiners and growth in Chinese factory...

MetOcean to introduce weather prediction tool to improve offshore facilities
24 July 2014 New Zealand-based MetOcean Solutions is introducing a new weather prediction tool to improve the safe operation of moored offshore facilities in...

Statoil wins Colombian offshore licence
24 July 2014 Norway-based Statoil has been awarded a 33.33% interest in the COL4 licence offshore Colombia in the Caribbean Sea in the 2014 Colombia Licensing...

Ruspetro completes first well test at Pottymski-Inginsky licence area
23 July 2014 Ruspetro has completed the first ten-day flow test at its first multi-stage fractured horizontal well at the Pottymski-Inginsky licence area in...

HNR signs DOC for Dussafu block offshore Gabon
23 July 2014 US-based energy firm Harvest Natural Resources (HNR) has signed a declaration of commerciality (DOC) with the Government of Gabon for the Dussafu...

Oil drops towards $107 on strong dollar
23 July 2014 Brent crude fell towards $107 a barrel today as a stronger dollar and weak demand overshadowed global...

McDermott wins Megalodon platform installation contract in Gulf of Mexico
22 July 2014 McDermott International has secured a contract to install a platform in the US Gulf of Mexico for Walter Oil &...


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