Author hkrichiedistribution
Oil from the giant Johan Sverdrup field in the North Sea has arrived at the Mongstad plant north of Bergen. “This is a great day for Equinor and the Johan Sverdrup partnership, consisting of Lundin Norway, Petoro, Aker BP and Total. First oil to Mongstad only a few days after production start confirms that the
Royal Dutch Shell abandoned two oil projects off Kazakhstan after stubbornly high costs made them uneconomic. Shell has exited the Khazar field, while North Caspian Operating Co. — a joint venture including Shell — has quit the Kalamkas-Sea project, according to TOO PSA, an entity run by the Kazakh Energy Ministry. The retreat from the
The trouble with Saudi Aramco’s off-again, on-again initial public offering has always been the valuation. Ever since Crown Prince Mohammed bin Salman insisted the world’s largest oil producer was worth $2 trillion in 2016, he’s been determined to prove the skeptics wrong. His optimism met the reality of the global capital markets on Thursday, when
Africa’s biggest oil producer is trying to get its refineries working in an attempt to wean itself off imported fuel. Yet again. Over the past 12 years, Nigeria tried and failed four times to crank up its aging and unprofitable crude-processing plants. Now the state-run energy company is giving it another shot that, if successful,
Brazil’s next oil auction, scheduled for November, may be the best one yet, raking in as much as $50 billion in auction proceeds, Bloomberg sources familiar with the Brazilian government estimates said on Monday. Licensing fees from Brazil’s November 7 oil auction was originally estimated at $25.5 billion, according to Reuters reports from the end
Petrofac will provide FEED and conceptualisation studies to clients in Oman and Libya following the award of a clutch of new contracts. In Oman, Petrofac will support Flare to Value LLC (F2V) by producing a basic engineering package to recover gas that is currently flared at three onshore locations. Petrofac’s focus will be on the
A North Sea oil platform has been shut down and workers taken off, following a subsea structural inspection. EnQuest said it evacuated the Thistle Platform, about 125 miles north-east of Shetland, in a precautionary move on Monday evening. The company said 115 personnel were transferred to a nearby platform by helicopter. The coastguard said its
An offshore oil worker has suffered serious injuries aboard Diamond Offshore’s Ocean Monarch drilling rig in operating in the Bass Strait Australia, prompting the national offshore safety body NOPSEMA to issue a “prohibition notice.” NOPSEMA said that the worker was injured on September 17, after a drill line fell to the Ocean Monarch’s drill floor
Denmark based offshore drilling contractor ‘Maersk Drilling’ has secured a three-well contract from South Korea based E & P company ‘POSCO International’ for Offshore Myanma Maersk Drilling announced that it has secured a contract for the 7th generation drillship Maersk Viking which will be employed by the POSCO International Corporation, a Korean operator, for a
The Newfoundland and Labrador Oil & Gas Industries Association (Noia) hosted its annual Fall Seminar this past Thursday at the St. John’s Convention Centre. Themed ‘Drilling Down for Future Opportunities,’ the focus for this year was advancing the offshore industry through exploration drilling activities. The morning kicked off with an industry overview by Jim Keating,