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Statoil wildcats disappoint in the Norwegian Sea

Statoil Petroleum, operator of production license 348 C, is in the process of completing the drilling of wildcat wells 6407/8-7 and 6407/8-7 A. Both wells have been drilled about 4 km north of Hyme field in the southern part of the Norwegian Sea.

Jee bags FEED contract for EOR project from Amec Foster Wheeler

Jee Ltd. has been awarded a contract from Amec Foster Wheeler for the front end engineering design (FEED) of a jacket rigid polymer injection riser package (including J-tubes) as part of an enhanced oil recovery (EOR) field development.

Expro wins the RoSPA President’s Award 2015

Expro has won the President’s Award, following 11 consecutive Gold Awards, in the RoSPA (Royal Society for the Prevention of Accidents) Occupational Health and Safety Awards 2015.

Bister exploration well disappoints in Norwegian Sea

Faroe Petroleum has announced that drilling has reached target depth on the Statoil-operated Bister exploration well in the Norwegian Sea.

Acona UK starts drilling operations in Northern Ireland

Well drilling and project management specialist Acona UK has begun drilling operations on a salt well for AIM-listed InfraStrata plc on behalf of Islandmagee Storage Limited in Northern Ireland. An Acona UK team is managing the drilling of the Islandmagee- 1 well, on the shores of Larne Lough. Operations to drill the 1,700-m well are expected to take about five weeks. The objective is for data gathering to confirm the feasibility of a strategically important underground gas storage facility in leached salt caverns.

UK Oil and Gas urges cooperation across UKCS

Ardent co-operation across the UK oil and gas industry which draws on the experience of others is important in helping to contain inflationary pressures and achieve a sustainable future for the UK Continental Shelf (UKCS), a London audience heard on May 19, at an Oil & Gas UK briefing, sponsored by Costain Upstream Ltd and Herbert Smith Freehills.

Oil falls to 3-week low as Goldman sees $45 crude by October

Oil slid to a three-week low as the dollar strengthened and Goldman Sachs Group Inc. said a continuing surplus would send prices back down to $45 bbl by October.

Shale set to pummel another market, as U.S. LNG plants arrive

The U.S. is about to change the global LNG market forever. When the first tanker carrying LNG from shale fields leaves the Sabine Pass terminal in Louisiana in December, it will turn consumers into traders with more bargaining power. That will transform a market dominated by long-term contracts into one where spot trading gains prominence, similar to crude oil. Since the first LNG cargo went to the U.K. from Algeria under a long-term contract in 1964, buyers opted for guaranteed supply, because the fuel was scarce. That’s changing, because gas from the Eagle Ford and other plays will transform the U.S. into the third-biggest exporter by 2020.

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.

Gazprom revives Saipem deal to build Turkey gas link through Black Sea

Gazprom has revived a deal with Saipem to build a gas link through the Black Sea, which was suspended after Russian President Vladimir Putin scrapped the South Stream pipeline to Europe last year.

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.

Suncor comes up dry with North Sea appraisal well

STAVANGER, Norway -- Suncor Energy Norge AS, operator of production license 375, has completed drilling of appraisal well 34/4-14 S in the oil discovery 34/4-11.

OMV wildcat strikes out southeast of Wisting discovery

OMV (Norge) AS, operator of production license 537, is in the process of concluding the drilling of wildcat well 7324/8-2. The well is dry.

Oil trader Andurand sees U.S., OPEC supply capping prices

Oil supply from both OPEC and U.S. shale drillers is set to expand later this year, preventing further gains in prices, according to hedge fund Manager, Pierre Andurand.

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.

BP appoints Britain’s former chief spy to company’s board

BP Plc, the former state-owned oil company with operations from Russia to Iraq, appointed the former head of Britain’s Secret Intelligence Service as a board member.

William Jacob Management establishes presence in London

William Jacob Management, Inc. has appointed Mike Emans as V.P. of Marketing (UK and Europe). He will be located in London.

Subsea 7 to cut 2,500 workers, up to 11 vessels

Subsea 7 announced Tuesday that in view of the difficult business and economic conditions in the oil and gas market and declining workload, a program of cost reduction measures will be implemented including a re-sizing of the fleet and workforce, and the restructuring of its corporate organization.

Europa Oil & Gas: 1.5 Bbbl of gross prospective resources identified on Irish license

Europa Oil & Gas (Holdings) plc, an AIM-quoted oil and gas independent with a combination of producing and exploration assets in Europe, has announced completion of a Competent Persons Report (‘CPR’) by ERC Equipoise Ltd (‘ERCE’) on the prospective resources in Frontier Exploration Licence (‘FEL’) 3/13 in the Porcupine basin, offshore western Ireland.

Shale drillers capitulating in Europe as Poland proves to be no Texas

When Cuadrilla Resources opened an office in Poland in 2009, it had a reason to be optimistic: the shale boom was transforming the U.S. into the world’s largest producer of natural gas. To the companies rushing to imitate that success in Europe, Poland looked like the next Texas.