NORWEGIAN company Electromagnetic Geoservices has secured a multi-client data-licensing contract with a major international exploration and production operator for Clearplay 3D electromagnetic (EM) data from the eastern Gulf of Mexico. The deal is worth about $5.8million.
Oil & Gas
NORWAY has stood back from potential conflict with other Arctic territorial claimants such as Russia by defining its continental shelf to end in deep waters 550km south of the North Pole.
AFGHANISTAN has launched its first oil&gas bidding round after many years of exile from the petroleum community.
STX Norway Offshore has been contracted to construct three North Caspian capability icebreaker tugs for JSC Circle Marine Invest.
STATOIL is calling it a day with the Lufeng field after more than 12 years of production.
STATOIL is mounting a massive North Sea campaign this year that will necessitate 21 production shutdowns on the Norwegian Continental Shelf. The shutdowns will allow for required maintenance and inspection, and many of its installations will be upgraded to expand capacity, implement technical improvements and extend their economic life. All this will be accomplished during the planned shutdowns, says Statoil.
THE best ways to improve energy security, mitigate global warming and reduce the number of deaths caused by air pollution are blowing in the wind and rippling in the water, not growing energy crops on a grand scale or glowing inside nuclear power plants, says Mark Z. Jacobson, a professor of civil and environmental engineering at Stanford University in the US. He says that currently fashionable "clean coal" - which involves capturing carbon emissions and sequestering them in the earth, and which is currently flavour of the political month here in Britain - is not clean at all.
MAERSK Olie has made what is described as a significant gas discovery in the Danish sector of the North Sea on block 9/06.
A web-based safety alert index system has been created by an Aberdeen company in a bid to improve safety in the upstream oil&gas industry through learning from past mistakes.
PETROFAC has been awarded a £10million contract extension by Venture Production covering the UK North Sea Kittiwake field until the end of March, 2010.
AT A time when water supplies are scarce in many areas of the US, scientists in Minnesota are reporting that production of bio-ethanol may consume up to three times more water than previously thought.
Canada-Newfoundland Offshore Petroleum Board has put the proposed $5.7billion Hebron heavy oilfield development on the Grand Banks out to public consultation.
In the future, natural gas derived from frozen methane-based hydrates extracted from the ocean floor and beneath the Arctic permafrost may fuel cars, heat homes and power industry, according to the American Chemical Society.
JUST days before standing down as US president, George "Dubya" Bush issued a directive claiming a vast area of the Arctic on behalf of the United States.
A battle for control of a huge slice of Antarctic waters is about to get under way, with the UK and Argentina laying claim to substantially the same piece of territory.
CALEDUS is teaming up with its Malaysia agent to forge a joint-venture company in a bid to better capitalise on South-east Asia market opportunities.
Aberdeen-based Nautronix and Cameron's Drilling Systems division in Houston have been awarded an OTC Spotlight on New Technology Award for the NASMUX (Nautronix Acoustic Subsea Multiplex) system.
At a time when the world's offshore industry is seeing huge changes in the way it does business, against a background of recession and tight-fisted banks, the need for strategic insight in upstream petroleum has perhaps never been greater, especially offshore where the highest stakes are being played.
Petrobras is totally reshaping Brazil's offshore petroleum industry with a string of spectacular pre-salt (sub-salt) oil discoveries which have, in less than two years, catapulted South America's leading producer up the international hydrocarbon reserves league table.
Leader of the South American petroleum pack by miles is Brazil, its ascendancy largely down to the driving ambition of state-owned Petrobras, the reputation of which is legendary in upstream petroleum, especially deepwater. A measure of that determination is the company's latest five-year investment plan, rolled out early this year. At $174billion through 2013, it is 55% up on the previous $112.4billion five-year plan.
The global financial crisis has, without question, taken its toll on upstream investment.
After years of waiting for the moment, Faroe Petroleum expects to get two cracks at drilling the UK Atlantic Frontier this summer.
The US Gulf of Mexico is mature and on a slide that can only be reversed through a concerted effort by the industry backed by sufficient fiscal and other incentives to turn the tide.
News that carbon capture and storage technology could herald a new era of financial prosperity for the North Sea and the communities that rely on it was widely welcomed last night.
Three billion extra barrels of oil could be squeezed out of the North Sea using pioneering technology that is expected to create up to 10,000 jobs across Scotland, the Press and Journal can reveal.