Offshore drilling firm Seadrill Partners has scored a contract in Gabon for one of its drillships. The West Polaris drillship – Image source: Seadrill PartnersSeadrill Partners said Wednesday that its drillship West Polaris had secured a contract with PC Gabon Upstream for drilling operations in Gabon. The contract is for one well, and it is …
Seabed Geosolutions gets ocean bottom node job in West Africa
Hugin Explorer; Source: Flickr; Author: nz_willowherb – under the CC BY-NC 2.0 license Seabed Geosolutions, a joint venture between Fugro and CGG, has been awarded a 4D ocean bottom node (OBN) monitor survey in West Africa from an unnamed major oil company. The project, for which the data is expected to be acquired over a two-month period during …
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Crude Oil Edges Downward
WTI and Brent crude oil finished lower again Wednesday. West Texas Intermediate (WTI) and Brent crude oil finished lower again Wednesday, weighed down in part by the prospect of new U.S. tariffs on Chinese goods and the effect they would have on demand. The August WTI contract settled at $56.78 per barrel Wednesday, reflecting an 84-cent decline. …
Trump Warns Trade War Can Escalate
U.S. President Donald Trump has warned that the U.S.-China trade war can ratchet up further, if the United States wants. U.S. President Donald Trump has warned that the U.S.-China trade war can ratchet up further, if the United States wants. In a cabinet meeting on Tuesday, Trump said, “we have a long way to go …
Oil Holds Losses as Global Demand Fears Rekindle
Oil held its biggest loss in two weeks as President Donald Trump's threat of new tariffs on Chinese imports rekindled fears about global demand. (Bloomberg) -- Oil held its biggest loss in two weeks as President Donald Trump’s threat of new tariffs on Chinese imports rekindled fears about global demand, while the U.S. signaled …
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Weatherford, Unable to Weather the Storm, Goes Under
By John Odigalu Weatherford International, the oil services giant often compared with the likes of Schlumberger, Baker Hughes and Halliburton, has filed for Chapter 11 bankruptcy. The Switzerland headquartered company, listed on the New York Stock Exchange until last May, caved in under the weight of its own growth. Since 1998, the company has …
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Cost Overruns Threaten Offshore Development
Even with funding based on a thorough engineering definition, operators could still see a cumulative $111-billion cost overrun. The prospect of oil prices remaining at about $60 a barrel, combined with impressive cuts in development and operational costs since 2014, have encouraged E&P companies to accelerate development of their offshore projects including Mad Dog Phase …
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BW Offshore makes management changes. Gets Abo FPSO extension
FPSO operator BW Offshore has made changes to its management team, including a new CEO and CFO, and won a contract extension for one of its FPSOs. Source: BW Offshore BW Offshore said on Monday that all the changes within the executive management team were effective immediately. The company added that Marco Beenen assumed the position of …
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Why Senegal Can’t Be the Next Ghana
By Toyin Akinosho When Cairn Energy encountered the SNE field in deep-water offshore Senegal in 2014, it was hailed,in the energy press, as one of the largest oil discoveries anywhere in the world in that year. The discovery opened, farther, the North West African segment of the Transform Margin, and spurred a renewed rush …
Western Independents Crash Out of Africa
 The European/American independent E&P company has become an endangered species in Africa. This type of company is either farming down from transformational projects, being swallowed a whole or leaving the continent on its own volition. Occidental’s ongoing purchase of Anadarko, the most aggressive independent explorer on the continent,  comes with a parallel transaction: all …
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