Oil and gas contractor Saipem said it was not given formal notice the South Stream Offshore Pipeline contract would be scrapped. Russia said the 40 billion euro pipeline link to Europe was to be dropped due to tension between the European Union and Moscow over the crisis in Ukraine.
Caza Oil and Gas has seen an increase in its proved developed producing reserves this year as a result of its drilling program in the Bone Spring play. PDP reserves increased 37.3% to 1,893.6 Mboe while total proved reserves decreased slightly to 4,483.4 Mboe from April 30, 2014. The high profits are said to be largely from the Bone Spring play development program in New Mexico, which has 28 production wells.
Andes Energia has seen a successful intervention operation on a well in the Vaca Formation in Argentina. The VG x-1 well on the Vega Grande oilfield in the Neuqen basin is producing oil at a rate of 80 barrels per day, without being stimulated thought hydraulic fracturing. Operations consisted of an intervention with a pressure draw-down and build-up tests performed in the interval of between 2612 and 2617 metres below ground level.
The International Well Control Forum (IWCF) has launched a a certificate system aimed to combat fraud. The system includes increased security features to help combat faked qualifications such as holograms, serial numbers, watermarks and a QR code.
An Austrian energy group has drawn its first oil from a drilling campaign in New Zealand. OMV said that well MR-8A, which is part of the Maari redevelopment drilling campaign, has an estimated production capacity of 4,500 barrels of oil per day. The firm will invest €205million in the campaign which has five drills producing new reservoirs.
SBM Offshore has sold one of its vessels in a $150million deal. The SBM Installer, a diving support and construction vessel (DSCV), has been snapped up by OS Installer.
Electromagnetic Services (EMGS) has struck an $8million deal with an international oil company. The contract will see EMGS provide 3D EM data from its multi-client data library in the Barents Sea. The company said the data will be delivered in the fourth quarter this year, with the firm booking $4.5million after the partner's share of revenues.
A £100m facility that could help the industry's employment needs is to be developed by the University of Aberdeen. The Energy Building will be built close to the Sir Duncan Rice Library on the corner of St Machar Roundabout and Bedford Road.
Africa-focused oil and gas exploration company Tower Resources expects one of its wells to spud early next year despite "complications". In its update of drilling activity on Block-2B in Kenya,Tower said project operator Taipan had recently attended the high court in Nairbori seeking a variation to the conservatory order served on the Badad-1 well operations in Block 2B .
Japanese trading company Mitsui & Co has signed an agreement to promote 12 power projects in Thailand.
Companies developing low carbon energy projects in generation will be given the chance to bid for £5million worth of funding. The fourth round of the government's Energy Entrepreneurs' Fund aims to help small and medium sized businesses bring low carbon products to the market. Half of the money in the latest round will prioritise carbon capture and storage, the process of caricaturing millions of tonnes of C02 from power stations and industrial facilities and storing the C02 under the sea bed.
An injured oil worker was flown to hospital from a Shetland platform. The Coastguard said a helicopter was dispatched last night to the North Cormorant platform and the man was taken by helicopter at around 9.50pm.
Energy services firm Proserv has won two awards for its efforts in business and engineering. The Aberdeenshire-quartered company landed Business of the Year and Great Engineering & Manufacturing Company of the Year at Friday’s (21 November) Spirit of Enterprise Awards 2014 in Great Yarmouth.
Petrolia is now drilling at the Haldimand 4 site in Gaspe. The well site is located near Sandy Beach, where the firm has recently opened an office and hired a local representative to oversee dialogue and answer community questions.
Seabox will lead a Joint Industry Project (JIP) that will bring advanced subsea water treatment closer to full scale development. Carried out with Az ACG, Suncor, SIPCO and the support of the Research Council of Norway, the JIP will see Seabox complete a design of a subsea SWIT and membranes plant capable of producing quality water from surrounding water on the seabed. The firm will also identify technology components available on the market and suitable for use in the SWIT plant.
LLeni Gas and Oil (LGO) is to buy Tabaquite from Trinity Exploration & Production for $2million, it was confirmed today. Tabaquite is due to receive a license for the Tabaquite Block in Trinidad, the most northerly onshore producing block in the area. Production from the existing license is 25 barrels of oil per day with LGO claiming to have identified 30 well targets in the area.
One of the great drivers in the oil and gas industry today is the continuing skills shortage and the need to address the resulting challenges in order to maximise remaining natural reserves. The picture painted by Sir Ian Wood’s report on the future of North Sea oil and gas is one of an industry that’s past its peak in terms of production.
The majority of the UK public want action on climate change, a survey has suggested. A survey by Populus has shown 73% of people want world leaders to agree a global deal and 66% think action must be taken now. 40% of respondents said they recognised the impact climate change could have on their lifestyle while 20% felt they could wait for change.
The agreement will cover geotechnical investigation work in preparation for Hornsea Project One which is expected to become the word's first gigawatt windfarm in 2020. The farm is located 120 kilometres off the Yorkshire coast and will provide electricity up to 800,000 UK homes.
Global oil and gas consultancy Maxoil Solutions has made a new appointment to its team of specialists. Simon Schapira is a chemistry consultant and technical authority on corrosion with 25 years’ experience in upstream and midstream oil and gas operations.
An industry 'role model' has been appointed to head a team at PwC. PwC has appointed natural resources industry advisor Alison baker to lead its UK oil and gas sector team.
A major oil firm has sold one if its oil mining leases in Nigeria for $600million.
Shoreline Energy has closed the sale if its Wattenburgh working interest assets for $4.1million. The news comes as the company confirmed it has fully repaid its credit facilities, including complete retirement of its royalty obligation.
An international oil and gas giant has landed a contract for work in Tunisia. Mazarine Energy will provide Compagnie Tunisienne de Forage with its CTF-4, a 2,000 horsepower onshore drilling rig for a two-well drilling campaign in Zaafrane.
