Ineos agreed to acquire the oil and gas business unit of Dong Energy in a deal worth $1.05bn.
The company will also make a contingent payment of $150m for Fredericia stabilisation plant and up to $100m, subject to the development of offshore Rosebank field.
The oil and gas business complements the existing upstream activities of Ineos, which were established in 2015 following the purchase of DEA, plus a portion of Fairfield's UK portfolio.
Scientists at the University of Aberdeen in Scotland found that sub-zero temperatures in deepwaters of the North Atlantic will reduce the ability of oil-degrading microorganisms to mitigate major oil spills.
As part of the research, the scientists evaluated the effectiveness of these microorganisms, which are found in the deepwater sediments west of Shetland that hosts multiple oilfields.
The microorganisms breakup spilled oil, aiding recovery and preventing it from reaching the seafloor.
BP started oil production from the redeveloped Schiehallion Area after completion of the Quad 204 project in the west of Shetland region, offshore UK.
Schiehallion and the adjacent Loyal fields, which were initially developed in the mid-1990s, started production in 1998 and produced nearly 400 million barrels of oil since then.
With redevelopment of these two fields, BP and partners Shell and Siccar Point Energy expect to recover another 450 million barrels of resources and extend their life until 2035 and beyond.
North Oil Company (NOC) selected Ramboll to conduct a pre-feed study for three new wellhead platforms at Al-Shaheen field off Qatar's north-eastern coast in the Arabian Gulf.
Situated 80km north of Doha, Al-Shaheen includes an area of 2.214km² and currently produces nearly 300,000bpd of oil. The field covers nearly 40% of Qatar’s total oil output.
The objective of the pre-feed study is to secure production at the three new wellhead platforms and optimise their recovery potential.
Sonardyne Asia's marine robotics technology was selected to assist in developing a new autonomous underwater vehicle (AUV) to navigate in offshore operations.
The new AUV is being developed as part of a joint research programme between PTT Exploration and Production Public Company (PTTEP) and Kasetsart University (KU) in Bangkok, Thailand.
PTTEP-KU placed the order for a Sprint inertial navigation system (INS) and Syrinx Doppler Velocity Log (DVL), which will be integrated on a 4,000m-rated, long-endurance AUV. The AUV can be used to detect oil spills and is also applicable for pipeline maintenance.
The Institute of Petroleum Engineering (IPE) at Heriot-Watt University secured funding from Verus Petroleum to support research and training for the industry's future in UK offshore waters.
Funding of £416,000 was received by Heriot-Watt’s chief scientist professor John Underhill to support oil and gas related training and applied geoscience research activities in IPE.
The funding will be allocated for NERC Centre for Doctoral Training (CDT), the Ogilvie-Gordon 3D Audio-Visualisation Centre (OGAVC) and UK Continental Shelf (UKCS) and Frontier Basins PhD research activities.
ABB received a grant from the Research Council of Norway to develop subsea technology to be used in the Norwegian Continental Shelf and the Barents Sea.
The Nkr10m ($1.16m) research grant represents the third award for ABB under the council’s DEMO2000 initiative that facilitates long-term competitiveness among the operators working in the Norwegian oil and gas industry.
Previous two funding amounts received by ABB last year totalled Nkr20m ($2.33m).
South Australian senator Nick Xenophon recommended that oil and gas exploration should not proceed in the Great Australian Bight due to safety concerns.
Xenophon stated his recommendations in the Australian Senate inquiry’s report.
Earlier, BP applied to conduct drilling in the Bight but the application was rejected citing ‘negligible’ job opportunities in the exploration stage and the failed bid produced no jobs.
2G Robotics and Sonardyne International signed an agreement to develop and commercialise a dynamic underwater laser mapping solution designed reduce the duration of seafloor surveys.
Under the collaboration, Sonardyne’s acoustically aided inertial navigation system for underwater vehicles, Sprint-Mapper will be integrated with 2G Robotics’ ULS-500 PRO dynamic underwater laser scanner.
Sonardyne claimed that the projects were carried out in the last six months by combining the 2G Robotics’ scanner with practical positioning accuracy have produced a complete solution for fast laser scanning projects.
Steam Oil Production signed an agreement to explore the potential of integrating FluidOil’s Viscositor Heavy-to-Light (VHTL) oil upgrading technology into an offshore steamflooding project.
Currently, Steam Oil is working on plans for the offshore project.
The company holds multiple licences of heavy oil reservoirs in the UK Western Platform, 140km east of Aberdeen. These licences are expected to contain approximately 650 million barrels of oil.