http://www.worldoil.com WorldOil Dril-Quip to establish HPHT research facility in Singapore https://www.worldoil.com/news/2016/2/11/dril-quip-to-establish-hpht-research-facility-in-singapore Dril-Quip is establishing a research and development (RandD) facility in Singapore focusing on materials and products suitable for HPHT applications. Statoil opts for ProSep technology for Gudrun platform https://www.worldoil.com/news/2016/2/11/statoil-opts-for-prosep-technology-for-gudrun-platform ProSep has been awarded a new contract by Statoil. The agreement, which commences this month, will see the company supply its proprietary ProSalt mixer technology to Statoil’s Gudrun platform in the Norwegian North Sea. Capex cuts on flagship projects affirm Norway’s tax stability plans: GlobalData https://www.worldoil.com/news/2016/2/11/capex-cuts-on-flagship-projects-affirm-norway-s-tax-stability-plans-globaldata Plans to continue development on critical Norwegian Continental Shelf oil and gas projects over the past few months, enabled by the achievement of significant cost reductions, will give Norway’s government some reassurance over its decision to maintain the stability of its fiscal regime in the face of falling prices, says an analyst with GlobalData. Pioneer Natural Resources cuts spending, shuts drilling amid rout https://www.worldoil.com/news/2016/2/11/pioneer-natural-resources-cuts-spending-shuts-drilling-amid-rout Pioneer Natural Resources Co. canceled a budget increase and shut down drilling in two fields after swinging to a loss in the fourth quarter. Total expects oil-industry downgrades as dividends maintained https://www.worldoil.com/news/2016/2/11/total-expects-oil-industry-downgrades-as-dividends-maintained Total became the latest major energy company to keep investor payouts, accepting that the industry risks credit-rating downgrades by maintaining dividends amid the worst oil crash in 30 years. Oil above $55 is a long-term inevitability, Maersk CEO says https://www.worldoil.com/news/2016/2/11/oil-above-55-is-a-long-term-inevitability-maersk-ceo-says After testing a 12-year low, the price of oil simply has to go up. That’s according to the CEO of shipping and oil giant A.P. Moeller-Maersk A/S, who says 2015’s average crude price of $54/bbl is too low for the industry to produce enough oil to satisfy global demand. Shell awards Water Standard contract for Appomattox development https://www.worldoil.com/news/2016/2/10/shell-awards-water-standard-contract-for-appomattox-development Water Standard has secured a contract with Shell Offshore for the design, fabrication, testing, and shipment of an Ultrapure Water Generation Package (UWGP) to be integrated on Appomattox, Shell's floating production system which will be located in the deepwater Gulf of Mexico. It’ll take more than an oil rally to restart shale boom https://www.worldoil.com/news/2016/2/10/it-ll-take-more-than-an-oil-rally-to-restart-shale-boom Explorers in U.S. oil fields stung by the quick rise and fall in the market last year are expected to move cautiously when crude prices begin to climb again. Petrofac secures first well management contract of 2016 https://www.worldoil.com/news/2016/2/10/petrofac-secures-first-well-management-contract-of-2016 SPD Ltd., part of the Petrofac Group, has secured a contract from Zennor Petroleum to provide well design and well construction management services, to support the Finlaggan appraisal well, which is in the Central Sector of the North Sea. Obama seeking $204.9 million for BSEE in proposed budget https://www.worldoil.com/news/2016/2/10/obama-seeking-2049-million-for-bsee-in-proposed-budget President Obama’s fiscal year (FY) 2017 budget request for the Bureau of Safety and Environmental Enforcement (BSEE) is $204.87 million, a $196,000 increase above the FY 2016 enacted level, and includes $96.34 million in current appropriations and $108.53 million in revenue from rental receipts, cost recoveries, and inspection fees. Magseis, BGP win major Saudi seismic contract https://www.worldoil.com/news/2016/2/10/magseis-bgp-win-major-saudi-seismic-contract Magseis has, together with its partner BGP, been awarded Saudi Aramco’s S78 project for large-scale ocean bottom seismic acquisition in the Red Sea.