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Category Archives: Drilling

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Statoil Under Probe After Visund Shutdown

March 23, 2016

The Petroleum Safety Authority Norway (PSA) has decided to investigate a well control incident on the Statoil-operated Visund field which occurred on March 17, 2016. Visund is an oil field located east of the Snorre field in the northern sector of the North Sea. The development comprises a semi-submersible steel production, drilling and quarters platform (Visund… Continue Reading »

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Transocean, Schlumberger See Oil Industry Recovery Delayed

March 22, 2016

Leaders of the world’s largest suppliers of offshore drilling rigs and the services that go with them see the oil market recovery taking even longer than expected last year. Transocean Ltd. Chief Executive Officer Jeremy Thigpen expects it will have to wait at least another three years before his company can begin charging higher rates for… Continue Reading »

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Japan Ruling Party Considers International Arbitration Over China Dispute

March 18, 2016

Japan’s ruling party urged Prime Minister Shinzo Abe’s government on Wednesday to consider seeking international arbitration over Beijing’s drilling activities in the disputed East China Sea, mirroring similar action by the Philippines. Sino-Japanese ties have long been plagued by conflicting claims over a group of uninhabited East China Sea islets. Last year, Japan called on… Continue Reading »

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Obama Said to Bar Atlantic Coast Oil Drilling in Reversal

March 16, 2016

The Obama administration is set to reverse course on opening Atlantic waters to a new generation of oil and gas drilling, after a revolt by environmentalists and coastal communities that said the activity threatened marine life, fishing and tourism along the U.S. East Coast. The proposed offshore leasing program expected to be released Tuesday walks… Continue Reading »

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Norway’s Oil Minister to Companies: Don’t Shut Output

March 15, 2016

Oil companies operating in Norway should hike recovery rates from mature fields despite falling crude prices, and resist the temptation to shut output earlier than planned, Energy Minister Tord Lien said. “Companies are obliged to maximise the value of each field to prevent profitable resources from being squandered,” Lien of the right-wing Progress Party told… Continue Reading »

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Nautilus’ Seafloor Production Equipment Lands in Oman

March 14, 2016

The three seafloor production tools (SPTs) for the deep seabed Solwara 1 project have arrived at Duqm Port in Oman, Nautilus Minerals informed on Friday. The three SPTs are scheduled to undergo wet testing at Duqm Port. The testing is one of the next major steps in the progession towards seafloor production, and will involve… Continue Reading »

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EIA: Second-Biggest US Shale Output Drop Seen For April

March 9, 2016

U.S. shale oil production in April is expected to chalk up the second-largest monthly decline on record, and the sixth straight monthly decrease, a U.S. government forecast released on Monday showed. Total output is expected to fall by 106,000 barrels per day to 4.87 million bpd, according to the U.S. Energy Information Administration’s (EIA) drilling… Continue Reading »

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Baker Hughes: US Oil Drillers Cut Rigs For 11th Week In A Row

March 9, 2016

U.S. energy firms this week cut oil rigs for an 11th week in a row to the lowest level since December 2009, data showed on Friday, as Exxon Mobil Corp and other producers slashed their drilling rig count to focus on uncompleted wells amid low oil prices. Drillers removed eight oil rigs in the week… Continue Reading »

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EIA: Second-Biggest US Shale Output Drop Seen For April

March 9, 2016

U.S. shale oil production in April is expected to chalk up the second-largest monthly decline on record, and the sixth straight monthly decrease, a U.S. government forecast released on Monday showed. Total output is expected to fall by 106,000 barrels per day to 4.87 million bpd, according to the U.S. Energy Information Administration’s (EIA) drilling… Continue Reading »

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