Category: Offshore

Watery classroom teaches life-saving lessons (video)

Most people who work on offshore oil facilities — including visiting journalists — have to learn to escape an upside down, water-filled helicopter. It’s all just a drill. But the panic is real.  More »

Marathon Oil to sell Norway business for $2.1B

Marathon Oil Corp. struck a deal Monday to sell its Norwegian offshore oil-production business for $2.1 billion, its latest move to lighten its load and concentrate on U.S. shale basins.  More »

Repsol wins approval for $10B project off Spain

Repsol SA won government approval to start a $10 billion oil drilling project off Spain’s Canary Islands, signaling success in its 12-year campaign to start exploration near the Atlantic archipelago.  More »

Ted Cruz calls for close look at Exxon Mobil deal in Russian Arctic

U.S. Sen. Ted Cruz, traveling in Israel and Eastern Europe to meet foreign leaders, said Wednesday that the U.S. should review a planned Exxon Mobil Corp. oil exploration project with the Russian state-controlled company Rosneft as the West looks for ways to apply more pressure over the Ukraine crisis.  More »

Woodside scraps $2.6B Israeli gas deal as talks fail

Woodside Petroleum Ltd., Australia’s second-biggest oil and gas producer, scrapped an agreement to buy a quarter of Israel’s largest natural gas field for as much as $2.6 billion after talks to complete the deal collapsed.  More »

Piping Tamar gas to Egypt may boost another Israeli site

A deal to pipe natural gas from Israel’s Tamar gas field to Egypt may spur development of a larger reserve nearby, benefiting partners in both discoveries.  More »

Eygptian gas deal may spur more Israeli offshore development

A deal to pipe natural gas from Israel’s Tamar gas field to Egypt may spur development of a larger reserve nearby, benefiting partners, including Houston’s Noble Energy, in both discoveries.  More »

Saudi gas reserves up as Aramco taps new shale deposits

Saudi Arabia’s natural gas reserves rose last year as it explored for the fuel in the Red Sea and tapped shale gas to free more crude oil for export, according to the kingdom’s state-run oil company.  More »

Offshore industry prepares for hurricane season

With hurricane season just days away, forecasters are predicting a more mild summer, but offshore producers are preparing nonetheless.  More »

Norway oil-strikes risk mounts as more workers break off talks

Oil-service workers in Norway followed offshore-platform workers in breaking off wage talks with employers, raising the prospect of another strike in the oil and gas industry two years after a walkout hit output.  More »

Exxon’s Norway oil fields risk shutdown by strike over pensions

The Safe union will order as many as 154 offshore-platform workers to walk out if the talks fail, paralyzing production at the Ringhorne, Jotun and Balder fields, the group’s leader Hilde-Marit Rysst said by phone.  More »

Human errors account for 80% of offshore accidents, exec says

Safety must be the backbone of any offshore company’s corporate culture because four of every five major offshore accidents are caused by human errors rather than mechanical or structural failures, an Anadarko Petroleum executive said Monday.  More »