Category Archives: Drilling


Statoil And Partners Strike Oil Off Brazil

April 19, 2016

Energy company Statoil and partners Repsol Sinopec Brasil and Petrobras have struck oil off the coast of Brazil, in a deepwater offshore area called the Campos Basin, the Norwegian firm said on Monday. The appraisal well encountered a 175-meters hydrocarbon column and produced around 16 million standard cubic feet of gas and 4,000 barrels per… Continue Reading »


GE, SapuraKencana in Asia Pacific Well Intervention Alliance

April 17, 2016

GE Oil & Gas and SapuraKencana Well Services have signed a memorandum of understanding (MoU) announcing an Asia Pacific wide agreement to deliver cost effective light well intervention services. The alliance should enable oil and gas operators to bring wells into production, deliver life-of field intervention services, as well as to suspend and abandon these wells later… Continue Reading »


Baker Hughes: U.S. Drillers Cut Rigs for 3rd Week to Nov 2009 Lows

April 12, 2016

U.S. energy firms cut oil rigs for a third week in a row to the lowest level since November 2009, oil services company Baker Hughes Inc said Friday, as energy firms keep slashing spending despite crude futures prices jumping roughly 50 percent since hitting a near 13-year low in February. Drillers cut 8 oil rigs… Continue Reading »


Gas Drillers Go Rigless As Price Collapse Heralds Austerity Era

April 10, 2016

Natural gas producers are finally realizing that the age-old adage is true: If you find yourself in a hole, stop digging. Explorers have idled drilling equipment at historic rates — a drop in prices has resulted in the fewest rigs in at least three decades searching for new output. Southwestern Energy Co., the third-largest U.S…. Continue Reading »


Eni On Track to Complete West, East-Hub Development Projects in Angola

April 8, 2016

In an ongoing effort to complete its West Hub Development Project (WHDP) in Block 15/06 offshore Angola, Italian energy firm Eni S.p.A announced Jan. 11 it had started production from the Mpungi field. Capable of increasing the WHDP’s output to around 100,000 barrels of oil per day (bopd) within the first quarter of 2016, according… Continue Reading »


World’s Biggest Oil Market Too Tied To Mideast To End Addiction

April 3, 2016

Even in a world awash with crude, buyers in the world’s biggest oil market can’t seem to escape their addiction to Middle East supplies. South Korea’s imports from the Middle East climbed last year to the highest level since at least 1980, while refiners in India say they are shunning shipments from distant ports and… Continue Reading »


Like the Oil Markets, Drillers Are Playing a Game of Wait and See

March 23, 2016

The oil market and energy investors alike have been showing signs of optimism that the industry is potentially emerging from a downturn that commenced in July 2014, when crude prices started to fall from highs of $112/bbl to eventual lows of $26/bbl (seen in January 2016). Since the last week of February, however, oil prices… Continue Reading »


Songa Offshore Hits DSME with $65.8 Mln Counterclaim

March 23, 2016

Songa Offshore has submitted its defence in the arbitrations initiated by Daewoo Shipbuilding & Marine Engineering (DSME) in 2015, regarding the first two Cat Ds rigs, Songa Equinox and Songa Endurance. In November last year, the offshore drilling contractor received claim submissions from DSME related to the above mentioned rigs due to alleged cost overruns and… Continue Reading »

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