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2008 Offshore Technology Conference OTC enjoy new attendance recordAttendance at the 2008 Offshore Technology Conference (OTC) reached 75,092, a 26-year high, as energy professionals from 110 countries met to learn about the latest technology to find and produce offshore oil and natural gas resources. The world's largest offshore event was held May 5-8 at Reliant Park in Houston. Full text |
Advances in Oil and Gas Leasing, Drilling and Production Continue in Deepwater Gulf of Mexico
Deep Down Inc to acquire Flotation Technologies
Offshore drilling spends still surge ahead
NPD start seismic acqusition of Lofoten and Vesterålen in may
ExxonMobil and Petronas Sign Agreement for New Production Sharing Contract
Subsea Industry continue to grow in UK
Market fundamentals driving oilfield services investment boom
ExxonMobil move into Libya exploration
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Attendance at the 2008 Offshore Technology Conference (OTC) reached 75,092, a 26-year high, as energy professionals from 110 countries met to learn about the latest technology to find and produce offshore oil and natural gas resources. The world's largest offshore event was held May 5-8 at Reliant Park in Houston. Full text
With approximately 72 percent of the Gulf of Mexico’s oil production coming from wells drilled in 1,000 feet (305 meters) of water or greater, advancement into deepwater Gulf of Mexico (GOM) continues as offshore operators meet the challenges presented in exploring and developing this energy frontier. Full text
Flotation Technologies, Inc., a world leader in the engineering, design and manufacturing of deepwater buoyancy and polyurethane elastomer systems, today announced that it will be acquired by Houston-based Deep Down, Inc. Full text
High oil prices will drive oil & gas industry spends on offshore drilling to a total of $380 billion (bn) over the five year period to 2012; a rise of nearly 60% in comparison to the $240bn spent in the previous five years. Full text
The Norwegian Petroleum Directorate (NPD) will commence acquisition of 2D seismic data in Nordland VII and in Troms II outside of Lofoten and Vesterålen around 15 May. The seismic survey company Bergen Oilfield Services AS will carry out the assignment using the vessel S/V BOS Atlantic on behalf of the authorities Full text
ExxonMobil Exploration and Production Malaysia Inc., a subsidiary of Exxon Mobil Corporation (NYSE:XOM), and the Malaysian national oil company, PETRONAS, will continue to work together to help ensure sustainable energy supplies for Malaysia under a planned new 25-year production sharing contract. Full text
A new study carried out by Arthur D. Little and commissioned by industry body Subsea UK has revealed that the Subsea oil and gas sector has grown from £3.35 billion in 2006 to £4.3 billion in 2007. Full text
Today, Douglas-Westwood Limited, the energy business consultants, announced it has provided advisory services to $10 billion of energy related transactions during 2007. Andrew Reid, director of Transaction Services, commented, “2007 has proven to be highly active as far as energy related M&A activity is concerned. Although our work is predominately global, the UK market is still highly influential in the raising of private equity and debt and we expect to see this continue at least for the first half of 2008”. Full text
The National Oil Corporation signed an Exploration and Production Sharing Agreement with ExxonMobil Libya limited for seismic and exploration drilling. Full text
Seventy per cent of the UK-based oil and gas field operators and contractors that took part in the ninth Aberdeen and Grampian Chamber Oil and Gas Survey said that they found it difficult to recruit enough skilled staff. This can have a knock-on effect and cause delays to major North Sea projects. Full text