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Enhanced Oil Recovery: Prospects for CO2-based EOR

October 30, 2014

In an era of increasing global energy demand, high sustained oil prices, ageing oil fields and a dearth of conventional oil finds, it is unsurprising that enhanced oil recovery techniques are now receiving a great deal of attention. As companies seek to make the most of their existing reserves, they are increasingly turning to thermal,… Continue Reading »

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Statoil Suffers Loss in Q3

October 30, 2014

Statoil’s third quarter 2014 net operating income was NOK 17.0 billion, a decrease from NOK 39.3 billion in the third quarter of 2013. Net income was negative NOK 4.8 billion mainly due to impairments. Adjusted earnings were NOK 30.9 billion, a decrease from NOK 40.4 billion in the third quarter of 2013. “Statoil’s quarterly earnings were… Continue Reading »

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Norway’s Fred. Olsen Energy Sees Tough Rig Market Ahead

October 29, 2014

Norway’s Fred. Olsen Energy said the global rig market would struggle with lower demand and oversupply as it reported third-quarter profits below expectations on Tuesday. Rates in the offshore rig market have fallen from a 2013 high as oil companies cut spending and as newly built rigs enter the market, creating overcapacity. “(There is) continued… Continue Reading »

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ABB Bags Butendiek OWF – SylWin Alpha Subsea Cabling

October 29, 2014

ABB has won an order from TenneT to design, engineer, supply and install an Alternating Current (AC) power transmission cable system that will connect Butendiek, an offshore wind farm in the German North Sea, to the HVDC converter platform SylWin alpha. The cable will link the AC platform of the Butendiek offshore wind farm to… Continue Reading »

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Faster ROPs behind Launch of New Drillbit Technologies

October 29, 2014

The desire for quicker rates of penetration (ROP) in oil and gas drilling is spurring innovation and new development in drillbits. Greater drilling efficiency was behind UK-based Tercel Oilfield Products’ development of the MicroCORE drillbit, which the company officially launched at the Society of Petroleum Engineers’ Annual Technical Conference and Exhibition (ATCE) in Amsterdam this… Continue Reading »

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Aker Wayfarer to Get Rolls-Royce Handling System

October 29, 2014

Rolls-Royce has signed a contract to supply a complete module handling system to the subsea construction vessel Aker Wayfarer. The $38.7 million (£24 million) contract marks the largest single subsea vessel project ever undertaken by Rolls-Royce. The Rolls-Royce automated handling system consists of a complete tower structure, skid system, deepwater lifting system as well as… Continue Reading »

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Subsea Vision Expands ROV Fleet

October 29, 2014

Subsea Vision has added another Saab Seaeye Cougar XT Compact to its ROV fleet. The compact concept is especially suited for working in strong currents and where the spread of equipment is small enough to need little deck space. The addition to their fleet follows expanded opportunities coming to the company since joining the James Fisher Group… Continue Reading »

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Chevron Starts Gas Production from Bangladesh’s Bibiyana Expansion Project

October 29, 2014

Chevron Corp.’s subsidiary in Bangladesh commenced natural gas production from the onshore Bibiyana Expansion Project in the northeastern part of the country, the company reported Tuesday. The expansion project will boost Chevron-operated natural gas production capacity in Bangladesh by more than 300 million cubic feet per day to 1.4 billion cubic feet per day, while the company-operated… Continue Reading »

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Technip Lands Kraken Job for EnQuest

October 29, 2014

Technip has been awarded a large engineering, procurement, installation and construction (EPCI) contract by EnQuest for the Kraken development located in the North Sea, 400 kilometers North-East of Aberdeen and 130 kilometers East of Shetland, at a water depth of approximately 120 meters. Technip’s operating center in Aberdeen, United-Kingdom, will execute the contract. A number of… Continue Reading »

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Oil Price, Industry Costs Dominate Debate at SPE Amsterdam Meet

October 28, 2014

The oil price and need for the energy industry to reduce costs dominated debate at the opening session of the Society of Petroleum Engineers’ Annual Technical Conference and Exhibition in Amsterdam Monday. The session, titled “Affordable Energy”, included panelists from the International Energy Agency (IEA), ExxonMobil, PEMEX and Technip. The recent fall in the price… Continue Reading »

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