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Offshore Energy 2014 Beats Expectations

October 31, 2014

The 7th annual Offshore Energy Exhibition & Conference (OEEC) held on 28 & 29 October at Amsterdam RAI attracted 13,452 visitors representing 81 nationalities, an increase of 47% compared to last year. OEEC 2014 featured 630 exhibitors on 21,000 sq.m. floor space and 106 speakers in 22 sessions. Official opening OEEC 2014 was opened by… Continue Reading »

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NOAA in Debris Removal Off Hawaii

October 31, 2014

A team of 17 NOAA divers sailing aboard NOAA Ship Oscar Elton Sette has returned from a 33-day mission to remove marine debris from Papahānaumokuākea Marine National Monument in Hawaii, a World Heritage Site and one of the largest marine conservation areas in the world.  In total, they removed approximately 57 tons of derelict fishing… Continue Reading »

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Texas RRC Issues New Regulations on Fracking Disposal Wells

October 31, 2014

New regulations covering disposal wells from fracking operations go into effect in Texas beginning in November 2014. The new regulations by the Texas Railroad Commission (Texas RRC, or Commission), the state’s regulating entity for oil and gas, are centered on the possible linkage between seismic activity and disposing wells. There are four main components of… Continue Reading »

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Saab to Build ROV for UHDT

October 31, 2014

Defence and security company Saab has won a contract to deliver a Water Borne Improvised Explosive Device Remotely Operated Vehicle (WBIEDROV) in cooperation with the U.S. Underwater Hazardous Device Team’s (UHDT), Technical Support Working Group (TSWG). The aim of this project is to deliver to the UHDT an increased capability that will tackle the growing… Continue Reading »

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Subsea Processing Session Held at Offshore Energy 2014

October 30, 2014

Subsea processing was one of the topics covered today at the Offshore Energy 14 Exhibition & Conference in Amsterdam.  Subsea processing provides an alternative to production equipment located on a fixed or floating platform. The session discussed the latest developments in subsea processing solutions including water removal and re-injection or disposal, boosting, gas separation and… Continue Reading »

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France’s Total Beats 3Q Profit Forecasts, CEO To Visit Oil Leaders

October 30, 2014

French oil company Total’s new chief will visit oil-rich countries to cement links with their leaders after the sudden death of his predecessor and will go ahead with cost cuts after falling oil prices squeezed third-quarter profits. Europe’s second-largest oil company elevated former refining head Patrick Pouyanne to the top post following the death this… Continue Reading »

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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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