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Oil & gas firms step up exploration game to tackle supply shortfall by 2050

As global exploration and production (E&P) players are facing a 40% output drop, Wood Mackenzie, an energy intelligence group, has pointed out that oil and gas companies are increasing high-impact exploration investment to address the 300-billion-barrel supply gap and energy security priorities by 2050. The post Oil & gas firms step up exploration game to tackle supply shortfall by 2050 appeared first on Offshore Energy.

Probe into offshore rig incident uncovers serious breaches

Scotland-headquartered offshore drilling contractor Odfjell Drilling has been served with an order from Norway’s offshore safety regulator, which investigated an incident that resulted in an injury at a semi-submersible rig deployed on the Norwegian Continental Shelf (NCS). The post Probe into offshore rig incident uncovers serious breaches appeared first on Offshore Energy.

Subsea7, OneSubsea take on multimillion-dollar job at ExxonMobil’s Angolan oil project

Subsea Integration Alliance (SIA), comprising SLB OneSubsea and Subsea7, has been tasked by U.S.-headquartered energy giant ExxonMobil with the engineering, procurement, construction, and installation (EPCI) scope of work at an oil project in Block 15 off the coast of Angola. The post Subsea7, OneSubsea take on multimillion-dollar job at ExxonMobil’s Angolan oil project appeared first on Offshore Energy.

Higher oil prices put $80 billion more on Australia’s tax horizon

Australian Energy Producers (AEP), representing the country’s upstream oil and gas exploration and production industry, has pointed out that the findings of a recent report reinforce the benefits of Australia’s existing fiscal framework, including the Petroleum Resource Rent Tax (PRRT), with the spike in oil prices having the potential to boost federal and state budgets by $17 billion per year. The post Higher oil prices put $80 billion more on Australia’s tax horizon appeared first on Offshore Energy.

Green light for wellhead removal ops at Australian oil field

AIM-listed and Singapore-headquartered oil and gas player Jadestone Energy has received a stamp of approval for its environmental plan (EP) from the country’s offshore regulator for wellhead removal activities at its oil field off the coast of Australia. The post Green light for wellhead removal ops at Australian oil field appeared first on Offshore Energy.