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Eni makes oil discovery in Congo

Eni has announced its third quarter results alongside the discovery of up to one million barrels of oil in the Congo. The company posted its third quarter results, which showed net profit of €1.71billion was down by 57% since the same time last year.

Oil & Gas

Cairn Energy confirms strong financial position

Cairn Energy confirmed a strong financial position as it prepares to carry out work in the North Sea. Group cash for the year so far has tallied up to $953million. The firm also confirmed it was fully funded to a free cash flow for the next two years. The firm's Catcher and Kraken development in the UK North Sea are poised for first oil in 2016 and 2017, according to the firm.


NAP has success in Louisiana

North American Petroleum (NAP) has seen production from its Shoats Creek Project increase by a third. The company holds a 35% interest in the area alongside Northcote Energy with 35% and Springer Oil and Gas with 30%.


Aibel to cut 300 jobs

Norwegian oil, gas and renewables engineering and construction firm Aibel is set to cut 300 jobs. The company said the employees in Stavanger, Oslo, Haugesund and Stjordal would be affected by the move.


ROC production dips by 6%

Roc Oil Company (ROC) has announced its third quarter results with production dropping by 6% following platform shutdowns. The company recently announced it would be taken over by Fosun International in a $441million deal.

Oil & Gas

BW Offshore wins contract extension

Floating production ship contractors BW Offshore have been given a two year contract extension for the lease of their vessel the Berge Helene. The deal with PETRONAS Carigali Mauritania 1 will now end in 2017, rather than the second quarter of 2015.


UKOG submits bid in 14th licensing round

UK Oil and Gas (UKOG) has submitted a bid for a 200km area covering the Southern part of the Isle of Wight as part of the UK 14th landward licence round. The company said its board had drawn the first $1million of a new $10million unsecured debt facility to submit its application.


Technip wins Indonesia contract

Technip has been awarded a substantial contract by Chevron Indonesia for the Bangka development. The French energy company will provide a range of services including procurement, construction, installation and commissioning.


Chevron to invest $6billion in Stampede project

Oil major Chevron will invest an estimated $6billion in the development of the Hess Corporation operated Stampede project in the Gulf of Mexico. The company’s subsidiary, Union Oil Company of California (Union), will run the deepwater subsea development which will be tied back to a newly constructed Tension Leg platform.


North Sea collaboration could cut carbon emissions

Collaboration by North Sea states will help tackle Europe’s carbon emissions, an international gathering of CCS (Carbon Capture and Storage) emission experts will hear. The SCCS (Scottish Carbon and Capture Storage) annual conference will tell politicians, industry experts and academics that the combined efforts of the industry could see hundreds of years’ worth of Europe’s carbon emissions stored.

Oil & Gas

Shells asks for five-year extension in Alaska

A letter obtained by an environmental campaign group from Shell to the US government shows the oil major asked for a five-year extension to its drilling leases in the Arctic waters. The company wrote a letter in July to the Bureau of Safety and Environmental Enforcement to ask for more time to discover oil in waters North of Alaska.


Al Shaheen win for Aberdeen company

Aberdeen-based PIM (Plant Integrity Management) has landed a contract from Maersk Oil Qatar for its PSV (Pressure Safety Valve) software in the Al Shaheen field. The company has helped deliver PSV management and consultancy systems on 33 platforms in the region.

Oil & Gas

Lundin spuds North Sea well

Swedish oil and gas explorer Lundin Petroleum has begun drilling of well 25/10-12S in the Kopervik Prospect. The well will investigate the hydrocarbon potential of the Kopervik Prospect in PL25, which is located 175km west of Haugesund on the Norwegian coast.


Video: GDF Suez opens new Aberdeen headquarters

GDF Suez has opened its new flagship Aberdeen office with the announcement of a £20,000 investment in art projects within the North-east. The company’s new offices have opened less than a week after it made a joint announcement with BP regarding the latest discovery in the North Sea.


Salamander in takeover talks

Salamander Energy could become involved in a bidding war after being approached by Ophir Energy and a consortium led by Compania Espanola de Petroleos (CEPSA) and Jynwel Capital. The company said it was currently in talked with both Ophir and the CEPSA Consortium regarding their respective proposals.

Oil & Gas

Ophir Energy strikes deal in Indonesia

Ophir Energy has struck a deal with Niko Resources to acquire interests in seven deepwater Production Sharing Contracts (PSCs) in Indonesia. The $31.3million deal means six of the PSCs will be operated by the company, with further payments depending on exploration success.