High-value long-term contracts are still being awarded despite the impact of the credit crunch on the oil&gas sector. That Vantage Drilling of Houston has just bagged contracts worth $2.56billion is testament to this.
A year ago, UK North Sea drilling was going great guns with exploration and appraisal drilling, and it pretty much stayed that way for 2008, which turned out to be the busiest since 1997. During the first quarter, 20 wells and eight sidetracks were started.
ELECTROMAGNETIC Geoservices (EMGS) of Norway has signed a global frame agreement with Shell for the provision of electromagnetic (EM) services for the next year, with optional extensions for two additional years. Most of the EM services will centre around EMGS's 3D capabilities.
IN NORWAY, Grenland Group has picked up a contract worth about $5.4million from FMC Technologies for the construction of Troll B gas-injection subsea structures.
AKER Solutions has been awarded a £34.7million contract by StatoilHydro for the delivery of a complete work-over system for subsea trees at the challenging Kristin field in the Norwegian Sea.
SAUDI petroleum minister Ali al-Naimi has warned that a "premature shift" to renewable energy sources could jeopardise investment in the oil sector and significantly slow global economic recovery.
STAFF of oil and gas firms which use the Thistle Aberdeen Altens Hotel were among the guests at a cocktail party and buffet to celebrate its new-look ballroom.
THE Norway-based venture capital group, Energy Ventures, hosted a party in the Marcliffe Hotel, Aberdeen, to showcase 10 upstream technology companies it has invested in and to flag up its presence in the city.
STATOILHYDRO is in the firing line at Norway's Petroleum Safety Authority (PSA), which found a number of regulatory violations in its investigation of lifeboat incidents on the Veslefrikk B and Kristin platforms in December, 2008, and January, 2009. An order will now be served on the company.
PEMEX has made a significant natural gas and condensates discovery in the Mexican sector of the Gulf of Mexico with its wildcat well, Tsimin-1.
A new seismic acquisition campaign is planned in 2009 over Laggan and Tormore, according to a paper presented at the 7th Petroleum Geology Conference in London.
NORWEGIAN outfits StatoilHydro and Statkraft have joined forces to develop the 315-megawatt Sheringham Shoal offshore windfarm off the coast of Norfolk in the UK.
DET Norske Veritas (DNV) has been chosen by the European Commission to facilitate a process to shorten the time from policy-making to industry implementation of carbon capture and storage (CCS).
SHELL says it will no longer invest in any alternative energy technology that is not economically viable.
BP CONTINUES its stunning run of discoveries on Angola's ultra-deepwater block 31 with Leda, the 17th find to date. The latest lies in the north-central part of the concession, some 415km north-west of Luanda and 12km south-west of the Marte field.
Quest Offshore anticipates a reasonably buoyant market for subsea trees during 2009. Indeed, the Houston-based analyst is forecasting a 12.1% compound annual growth rate over the next five years. This compares with 3.6% over the prior five years.
One of the most ambitious scholarship schemes ever put together in Scotland for the oil&gas sector is poised for launch by global engineering and consultancy group Poyry.
IN 1985, worldwide production was a little over 60million barrels and yet there was about 10million bbls spare capacity. There was a real cushion in the market.
AS FOR whether or not NOCs need IOCs when main contractors are perceived as possessing so much of the capability needed, Peter Robertson is very clear - NOCs need IOCs for a whole bunch of reasons.
So are IOCs' days numbered? The CEO of Italian energy conglomerate Eni, Paolo Scaroni, believes that is the case and has said so in open forum on several occasions.
Swire Pacific Offshore has signed a shipbuilding contract with Singapore Technologies Marine (ST Marine) to design and construct a new seismic acquisition vessel.
There is now clear evidence that banks are destroying opportunities - both oil-related and offshore wind - so undermining jobs and the ability of companies to survive the downturn. Given the IHS/CERA report of just a few days ago that warned of serious consequences if there is not a rapid recovery of investment in boosting oil&gas output, short-sighted decision-making by the banking fraternity is plain stupid.
There is now clear evidence that banks are destroying opportunities - both oil-related and offshore wind - so undermining jobs and the ability of companies to survive the downturn. Given the IHS/CERA report of just a few days ago that warned of serious consequences if there is not a rapid recovery of investment in boosting oil&gas output, short-sighted decision-making by the banking fraternity is plain stupid.
The Energy Talent Development (ETD) programme sponsored by Scottish Enterprise and driven by ITF, SPE and the Energy Institute is looking for new industrial-related projects for Master's courses in the current academic year.
Crude oil is actually a variable commodity. Most of us working in the industry never see it, simply pumping different types of petrol or gasoline into our cars.