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Brazil Oil, Gas Output Above 3 Million Barrels A Day For Second Month

March 6, 2015

Brazil produced more than 3 million barrels of oil and equivalent natural gas a day (boepd) for the second straight month in January, 20 percent more than a year earlier, as the country benefited from the startup of long-delayed production systems. The 44 companies operating in Brazil together produced an average 3.08 million boepd in… Continue Reading »

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Saudi Arabia Expects Oil Price To Stabilize

March 5, 2015

Saudi Arabia’s oil minister said on Wednesday he expected oil prices, which hit a near six-year low in January, to stabilize, signalling cautious optimistism about the market outlook. Giving a speech in the German capital, Ali al-Naimi also urged non-OPEC producers to help balance the oil market, saying it was not up to Saudi Arabia… Continue Reading »

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Cal Dive Files for Chapter 11 Bankruptcy

March 5, 2015

Cal Dive with its U.S. subsidiaries has filed simultaneous voluntary petitions in the United States Bankruptcy Court for the District of Delaware seeking relief under the provisions of Chapter 11 of the U.S. Bankruptcy Code. A chapter 11 debtor usually proposes a plan of reorganization to keep its business alive and pay creditors over time…. Continue Reading »

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Providence Encouraged by Drombeg Data

March 5, 2015

Ireland’s Providence reported that the initial evaluation of the fast-track 3D volume has revealed seismic morphologies in the Drombeg prospect which are consistent with those of a large deep-water fan system. These data also suggest that the Drombeg fan is being sourced from the Porcupine Bank via discrete sediment feeder systems. Initial review of the seismic… Continue Reading »

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Technip Pipes for Lula Alto (Brazil)

March 5, 2015

Technip has won a contract from Tupi BV, a consortium composed of Petrobras Netherland BV (PNBV, 65%), BG (25%) and Galp (10%), for the ongoing development of the Lula Alto field, located in the Santos Basin pre-salt area, Brazil. This contract covers the supply of around 200 kilometers of flexible pipes and associated equipment, including gas… Continue Reading »

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DOF Subsea S&P Secures Heerema MSA Extension

March 4, 2015

DOF Subsea UK Limited, a provider of integrated subsea services, announced that its survey and positioning business in the UK and US has been awarded an extension of a Master Service Agreement with Heerema Marine Contractors of Leiden, The Netherlands.   The contract covers global provision of survey and positioning services on board Heerema Marine Contractor’s… Continue Reading »

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Conservation Groups Oppose North Carolina Seismic Shoot

March 4, 2015

On behalf of several conservation groups, the Southern Environmental Law Center (SELC) today submitted comments to the North Carolina Division of Coastal Management (DCM) on the first two proposals to conduct seismic blasting with airguns off the North Carolina coast. The Bureau of Ocean and Energy Management (BOEM) is currently considering nine applications to conduct seismic… Continue Reading »

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Albatern Gets Fund for Wave Energy Development

March 4, 2015

Scottish Enterprise has supported Albatern through a £400k investment from the Renewable Energy Investment Fund, which it administers of behalf Scottish Government.  The funding will enable the company to complete verification of existing units and position it to commercialise and scale up their array based WEC – WaveNET. The WaveNET technology  is built from individual… Continue Reading »

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