The most read article on Energy Voice this week was the announcement that Talisman Sinopec Energy had terminated a contract with drilling company Archer.
The Archer Emerald had been contracted out by the company in a two-year contract deal worth $96million and was scheduled to begin in the first quarter of 2016.
However the contract will now end later this month.
Readers turned to the opinion of Oil & Gas UK’s chief executive Malcolm Webb to look at what he thought the industry needed to be doing to get the North sea “back on its feet”.
The industry expert said while the sector has some real challenges ahead it does not face any danger of being “wiped out”.
As oil prices reached the $50 mark this week, analysts looked at what the biggest price drop since 2009 means.
The surge in US shale supply, weakening Asian and European demand and a stronger dollar were all cited as having an influence in the recent price.
In another article assessing the current slide in cost, China’s economy, US shale, elasticity of demand, OPEC and geopolitical flashpoints were noted as the top five factors affecting the oil price this year.
Writer Nick Cunningham said oil prices are currently “unsustainably low”, with many high-cost oil producers and oil-producing regions operating in the red.
Noble Drilling last year pled guilty to eight felony offences in the US after Alaskan authorities threw the book at the company.
The charges related to environmental and maritime crimes including knowingly failing to maintain an accurate Oil Record Book and an accurate International Oil Pollution Prevention certificate, knowingly failing to maintain a ballast water record book, and knowingly and willfully failing to notify the US Coast Guard of hazardous conditions aboard the drill ship Noble Discoverer.
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