Tag Archive

Cairn Energy Half-Year Report Announcement

Cairn Energy Half-Year Report Announcement

August 23, 2017 No Comments

Finance US$254 million (m) Group cash at 30 June 2017 Norwegian tax receivable of US$29m in H2 2017 Reserves Based Lending (RBL) bank facility remains undrawn with expected peak availability of US$350-400m and US$210m at year end 2017 FlowStream US$75m cash proceeds received in H1 2017 Remaining 2017 capex for Catcher and Kraken development projects […]

Maersk secures contracts for three rigs

Maersk secures contracts for three rigs

August 18, 2017 No Comments

Maersk Drilling has been awarded a contract by Shell for the deepwater semi-submersible rig Maersk Developer. The contract covers the drilling and completion of three wells, and the suspension of one well, all located in block E of the East Coast Marine Area (ECMA) offshore Trinidad. Commencing in January 2018, the firm contract duration is […]

DNV GL carries out its first offshore drone survey

DNV GL carries out its first offshore drone survey

August 4, 2017 No Comments

DNV GL surveyors have carried out the classification society’s first offshore drone survey on the semisubmersible vessel Safe Scandinavia in the North Sea. This 25,383 GT tender support vessel (TSV) is owned and operated by Prosafe, supporting Statoil’s drilling operations off the coast of Norway. Using camera-equipped drones, DNV GL’s drone pilots checked the TSV’s […]

Faroe Acquires further Interest in Blane Field

Faroe Acquires further Interest in Blane Field

July 31, 2017 No Comments

Faroe Petroleum announced the conditional acquisition of a further 13.9935% interest in the Blane Field in the UK North Sea (“Blane Interest”) from JX Nippon Exploration and Production (U.K.) Limited (”JXN”) for a total consideration of $5.25 million (the “Acquisition”). Highlights Value accretive: consideration of $5.25 million corresponds to approximately $5.0/boe; value synergies include greater […]

Schlumberger Announces Second-Quarter 2017 Results

Schlumberger Announces Second-Quarter 2017 Results

July 24, 2017 No Comments

Q2 2017 Earnings highlights Revenue of $7.5 billion increased 8% sequentially Pretax operating income of $950 million increased 25% sequentially GAAP loss per share, including charges of $0.40 per share, was $0.05 EPS, excluding charges, was $0.35 Quarterly cash dividend of $0.50 per share was approved Schlumberger Chairman and CEO Paal Kibsgaard commented, “Our second-quarter […]

TAQA Awards Schlumberger EPCIC Contract

TAQA Awards Schlumberger EPCIC Contract

July 18, 2017 No Comments

OneSubsea, a Schlumberger company, announced the award of an engineering, procurement, construction, installation and commissioning (EPCIC) contract for a subsea multiphase boosting system by TAQA for the Otter field in the UK North Sea. Through the EPCIC contract, OneSubsea and its Subsea Integration Alliance partner, Subsea 7, will supply and install a subsea multiphase boosting […]

North Sea exploration no longer attractive

North Sea exploration no longer attractive

July 14, 2017 No Comments

Premier Oil, which produces more than half its oil in the British North Sea, said on Thursday that exploring for resources in the basin was no longer attractive, a day after it announced a major discovery off Mexico. The company’s shares have surged to a three-month high after it found potentially more than a billion […]

Accident at South Korea’s Samsung yard delays project

Accident at South Korea’s Samsung yard delays project

July 6, 2017 No Comments

Following the tragic accident at the Samsung Heavy Industries (SHI) Geoje yard in South Korea on May 1st, 2017, Total has assessed the status of some of its projects given that the yard is being used for construction works related to three of its major projects: Martin Linge (Norway), Egina (Nigeria), Ichthys (Australia).   “We […]

Gina  Krog oil and gas field in the North Sea

Gina Krog oil and gas field in the North Sea

July 3, 2017 No Comments

At 17.02 CET on 30 June, Statoil started production on the Gina Krog oil and gas field in the North Sea. Statoil and the partners invest a total of some NOK 31 billion in the development of the Gina Krog field. “We are proud to have delivered Gina Krog with a good HSE record and […]

Kraken First Oil

Kraken First Oil

June 26, 2017 No Comments

EnQuest confirms that first oil from the Kraken development was delivered on 23 June 2017.  During the initial ramp-up period, the 13 wells that have been drilled and completed to date, comprising 7 producers and 6 injectors, are being brought online in a phased manner, to maximise long term productivity and value. EnQuest CEO, Amjad […]

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