Deepwater ///

Transocean reaches settlement agreements with BP, PSC

Transocean Ltd. has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (PSC) and with BP Exploration & Production Inc. and BP America Production Co.

Halliburton reaches agreement with BP on Deepwater Horizon claims

Halliburton has reached an agreement with BP Exploration & Production Inc. to resolve remaining issues, which includes indemnities between the parties and dismissal of all claims against each other, relating to the April 20, 2010, Deepwater Horizon well incident in the Gulf of Mexico.

Oil M&A activity likely to pick up during 2016

Oil’s rebound and more certainty around company valuations are keys to driving mergers and acquisitions activity next year given the pent-up demand for deals, bankers said Tuesday at an energy forum in Houston. “The dam will break at some point,” Stephen Trauber, vice chairman and global head of energy at Citigroup Inc., said at the Mergermarket conference.

AVEVA to provide Everything 3D design software to Aker Solutions

AVEVA has entered a multiyear agreement with Aker Solutions for Everything. Aker has selected the software systsem to be its strategic 3D tool on plant design, modification and maintenance projects.

OMV Petrom says low oil price hurt profit, may reduce investment

OMV Petrom SA, Romania’s biggest oil company, said its first-quarter profit fell 68% from a year earlier due to lower oil prices and warned it may be forced to reduce investment and production through 2017.

Upstream mega projects to alter global crude routes and refining, Wood Mac says

By 2025 mega-projects offshore Brazil and Norway will add some 3.8 MMbpd of new crude supply from the Atlantic basin, according to Wood Mackenzie's latest outlook.

Petrobras’ operated pre-salt production exceeds 800,000 bopd

Petrobras has announced that on April 11, 2015, oil production in the fields it operates in the pre-salt province of the Santos and Campos basins reached the milestone of 800,000 bopd, constituting a new daily production record.

Tracerco introduces offshore mobile labs for reservoir tracer analysis

Tracerco has invested in a number of new mobile reservoir tracer analysis laboratories for use onsite in offshore projects.

AGR, SP Offshore sign MoU for ultra-deepwater well off Comoros Islands

AGR and SP Offshore Energy Services have entered into a Memorandum of Understanding (MoU) under which AGR will provide a range of exploration services and the drilling of an ultra-deepwater well off the Comoros Islands, between Mozambique and the Comoros.

Statoil and China’s Sinochem invest heavily in Brazil’s Campos basin

Peter Howard Wertheim, Contributing Editor

Statoil Brazil, in partnership with China’s Sinochem, is betting $3.5 billion in the Campos basin. Statoil Brazil president Pål Eitrheim explained the company’s strategy to World Oil.

Latin America’s prospects, and post-corruption Petrobras

Peter Howard Wertheim, Contributing Editor

Alvaro Teixeira is a civil engineer and geologist who worked 36 years for Petrobras on E&P projects in Brazil and abroad.

Regional Report: Latin America

Mauro Nogarin, Contributing Editor

Responding to falling oil prices, some Latin American governments push energy investment, while others slash E&P budgets.

OTC 2015 draws over 94,700 for show’s sixth-largest attendance

Experts from the offshore energy industry around the world came together 4–7 May for the 2015 Offshore Technology Conference (OTC) at NRG Park in Houston. More than 94,700 attendees from 130 countries gathered at the annual conference, representing the sixth-largest attendance in the OTC’s 47-year history.

OTC ’15: BHP Billiton makes case for Shenzi as world class project

Shenzi is BHP Billiton’s flagship project in deepwater Gulf of Mexico. The operator presented a panel of E&P executives at a press, who collectively outlined the exploration, drilling and production aspects of the project and showcased milestones, which classify Shenzi as a world-class development.

Transocean beats first-quarter profit estimates on cost cuts

Transocean Ltd.’s first-quarter earnings exceeded analysts’ estimates by 86% as the offshore rig owner named new leadership, scrapped vessels and cut costs to handle a drop in drilling demand.

Offshore in depth

Ron Bitto, Contributing Editor

Five years after Macondo, the industry is better prepared to respond

What's new in exploration

William (Bill) Head, Contributing Editor

Modern oil and gas exploration is good for the environment: Fact

Gazprom, PetroVietnam to drill first deepwater well offshore Vietnam

Gazprom and PetroVietnam are to set drill the first deepwater well offshore Vietnam later this year, Moscow-based Gazprom said Wednesday.

Wood Group completes engineering services for MWCC’s modular capture vessels

Wood Group Mustang has completed engineering services for the two Marine Well Containment Company vessels that can be deployed in the event of a deepwater well control incident in the U.S. Gulf of Mexico.

EFC Group celebrates multi-million dollar Weatherford MPD contract wins

EFC Group has been awarded multiple multi-million dollar contracts by major oilfield services company, Weatherford, marking continued success in the US since the Group set up its Houston base in 1995.