BP and Azerbaijan’s Socar have signed a new production sharing agreement (PSA) for the joint exploration and development of Block D230 in the North Absheron basin in the Azerbaijan sector of the Caspian Sea. The PSA was signed on the 26th April in London,…
Two new infill wells drilled this year on the Tambar field offshore Norway, have been brought online, Faroe Petroleum, a partner in the Aker BP-operated field said on the 27th April. Faroe said the two new development wells’ initial performance exceeded pre-drill expectations. …
DNO ASA, the Norwegian oil and gas operator, has announced expansion and acceleration of operations in the Kurdistan region of Iraq while building up its North Sea exposure. First quarter revenues, the highest in nearly four years, stood at US$142 million and net profit…
A newly drilled unregulated oil well in western Indonesia exploded into flames early the 25th April, burning 18 people to death and injuring dozens of others. National Disaster Mitigation Agency spokesman Sutopo Purwo Nugroho said the well in Pasir Putih village in eastern Aceh…
Total SA and Google Cloud have signed an agreement to jointly develop artificial intelligence (AI) solutions for subsurface data analysis in oil and gas exploration and production. The agreement focuses on the development of AI programmes which will make it possible to interpret subsurface images,…
Energy firm Point Resources, backed by private equity firm HitecVision, has hired investment bank BMO Capital Markets to find a minority partner in some of its oil fields in the North Sea, a document drawn up for the company shows. The Norwegian oil producer…
An oil discovery has been made at the Rabul 4 well in Egypt’s West Gharib Concession, SDX Energy Inc has revealed. The well was drilled to a total depth of 5,250 feet and encountered approximately 43 feet of net heavy oil pay across the…
Heerema Marine Contractors (HMC) has decided to discontinue offshore pipelay, following a review of the company’s position. The market remains highly competitive with significant overcapacity, the company said. Following the withdrawal, around 350 permanent jobs at HMC will be phased out. The…
The offshore part of the South Pars Phase 14 development will be completed by the end of the Iranian calendar year in March 2019, the Pars Oil & Gas Company has said. According to reports made by the Iranian news agency Shana, the first offshore…
Diamond Offshore Drilling Inc has launched Sim-Stack, the offshore drilling industry’s first cybernetic BOP (Blow Out Preventer) service. When issues arise, the service is said to determine immediately a proper course of action while providing a third-party statement of fact to the operator, BSEE,…
