World News

GULF OF MEXICO (Reuters) – About 300 BP workers commute 150 mi by helicopter, from the Louisiana coast to a deep-sea drilling platform that can produce more oil in a day than a West Texas rig can pump in a year. On the deck of Thunder Horse, they work two-week shifts, drink seawater from a desalination plant, and eat ribs ...

LONDON – GE Oil & Gas has signed a long-term agreement to collaborate with Eni East Africa, on the offshore Mozambique developments it operates. The move underlines the company’s commitment to expand its global footprint while supporting local investment in Africa, and re-affirms its leadership in large bore technology and cutting-edge subsea equipment and services. Since 2014, teams from GE ...

MOSCOW (Reuters) – Russia’s largest oil producer Rosneft said on Sunday it had found its first oil field in the Laptev Sea in the eastern Arctic, making a breakthrough in the search for hydrocarbons in the harsh and far-flung region despite Western sanctions. Rosneft and its partners plan to invest 480 billion roubles ($8.4 billion) in developing Russia’s offshore energy ...

HOUSTON — The BP-operated Prudhoe Bay oil field in Alaska has reached 40 years of production, a milestone highlighting its historic contribution to U.S. energy security and ongoing role as a key economic engine for the region and nation. Since the giant oil field on Alaska’s North Slope began production, it has generated more than 12.5 Bbbl of oil — ...

MEXICO CITY (Bloomberg) — Eni SpA was the biggest winner in Mexico’s latest auction of shallow-water oil prospects. The Italian oil giant took three of the 10 areas awarded on Monday, the national hydrocarbons commission said during an event in Mexico City on Monday. The tender, Mexico’s fifth since it ended a state monopoly in 2014, garnered winning bids from Royal ...

ABERDEEN — Faroe Petroleum, the independent oil and gas company focusing principally on exploration, appraisal and production opportunities in Norway, the UK and Atlantic Margin, notes Statoil’s announcement regarding PDO of Njord and Bauge in the Norwegian North Sea. Graham Stewart, CEO of Faroe Petroleum commented: “Faroe are delighted at the efficient progress Statoil is making with this important project.  ...

 HOUSTON — The BP-operated Prudhoe Bay oil field in Alaska has reached 40 years of production, a milestone highlighting its historic contribution to U.S. energy security and ongoing role as a key economic engine for the region and nation. Since the giant oil field on Alaska’s North Slope began production, it has generated more than 12.5 Bbbl of oil — ...

OKLAHOMA CITY — Schlumberger today introduced the Pulsar multi-function spectroscopy service at the SPWLA 58th Annual Symposium. The new service provides the industry’s first complete cased hole formation evaluation and reservoir saturation monitoring with openhole logging quality. This next generation in pulsed neutron logging features multiple detectors and a high-output pulsed neutron generator to significantly improve acquisition accuracy and increase ...

STAVANGER — Statoil’s new technology strategy intensifies the company’s research on CO2 reduction and digital solutions. “Statoil wants to be in the forefront of the development in the oil and gas industry. Technology and innovation are vital to finding more resources and developing projects, while at the same time reducing costs and CO2 emissions,” says Margareth Øvrum, executive V.P. for ...

NEW DELHI and MUMBAI (Bloomberg) — BP Plc and Reliance Industries Ltd. will invest as much as $6 billion to restart work in Indian oil and gas blocks after eight years, in an area off the South Asian country’s east coast, where both companies have faced trouble boosting production. The companies aim to develop about 3 Tcf of resources that will ...