Production efficiency (PE) on the UK Continental Shelf (UKCS) has improved for a fifth consecutive year, rising to 74%, according to a new report released by the Oil & Gas Authority (OGA). The 1% improvement from 2016 helped contribute an additional 12 million barrels…
Oil Search has expanded its exploration portfolio in the onshore Gulf Basin, PNG. In July 2018, Oil Search executed a farm-in to PPLs 474, 475 and 476 and PRL 39, located adjacent to the Elk-Antelope fields in PRL 15 in the Eastern Foldbelt, onshore…
The Oil & Gas Innovation Centre (OGIC) has awarded £330,000 (US$437,000) of support to five projects designed to cut operational costs and improve efficiency in the oil and gas industry. Five companies are co-operating with Scottish universities on the various programmes. TechnipFMC Umbilicals…
Australian oil company Triangle Energy has identified exploration prospects near its Cliff Head field off Australia which could hold a prospective volume of 29 million barrels. This is, according to Triangle, over 80 percent increase compared with a previous estimate of 15.7 million barrels….
Long-term customer MK Fintel Wind a d Beograd has placed an order for 20 V126-3.45 MW turbines for the 69 MW Kosava I wind park in Serbia. To accommodate the site’s specific wind conditions and maximise energy production while meeting the site’s tip height…
North Africa focused oil and gas company SDX Energy Inc announced on the 16th July that a “successful” production test has been conducted at its SD-4X appraisal well at South Disouq in Egypt. The well was said to have flowed at a maximum rate…
OPEC will continue to play an important role in the oil market to 2040, according to a new report by Wood Mackenzie. In the report, the global natural resources consultancy said it expects production growth to continue in the US Lower 48 over the…
Dutch energy and dredging services provider Boskalis has received a letter of award for the transportation and float-over installation of a platform topside off Malaysia. Boskalis said on the 13th July that the letter of award came from Malaysia Marine and Heavy Engineering Sdn…
The price of Brent crude oil for September fell more than $5/bbl on the London market on the 11th July while the light, sweet crude oil price for August delivery fell by more than US$3.70/bbl on the New York market upon news reports of resuming…
A refinery in Saudi Arabia has shipped its RBOB gasoline to the United States for the first time, a potential precursor for more deliveries to a region where prices are currently at seasonal three-year highs.( In commodity market terminology, RBOB Gasoline refers to a type…
