Talisman ‘stalls’ on Yme concept

Talisman ‘stalls’ on Yme concept

Posted by Aaron Kerr April 16, 2014


Talisman Energy has reportedly delayed a new concept decision on the Yme field off Norway – and has not ruled out that the problematic project could be shelved altogether. The Canadian operator and contractor SBM Offshore last year decided to scrap the North Sea field’s newbuild mobile offshore production unit (Mopu) before it had even started operation due to a litany of costly technical issues, with the platform due to be removed next summer. Both parties have already been forced… More

Via - Upstream

Shale boosts US reserves to 36-year high

Shale boosts US reserves to 36-year high

Posted by Andrea Marston April 10, 2014


Proven US oil reserves jumped in 2012 to the highest level since 1976, boosted by shale plays in Texas and North Dakota, while gas reserves fell for the first time in a decade due to low prices, the Energy Information Administration said on Thursday. Proven oil and condensate reserves jumped 15.4% in 2012 to 33 billion barrels, Reuters reported. Companies booked 5.4 billion barrels of new reserves through discoveries, the EIA said. Various revisions and adjustments added another 1.5 billion… More

Via - Upstream

Petronas launches hull for FLNG vessel

Petronas launches hull for FLNG vessel

Posted by Aaron Kerr April 9, 2014


Malaysia’s state-run Petronas has launched the hull for what it claims will be the world’s first floating liquefied natural gas facility. Petronas launched the hull of its PFLNG-1 vessel at Daewoo Shipbuilding & Marine Engineering’s shipyard in Okpo, South Korea, on 5 April. The 365-metre-long hull hit the water less than 10 months since the cutting of the first steel on the floater in June last year and Petronas said it was on track to be completed by the fourth… More

Via - Upstream

Sechin scion takes Rosneft post

Sechin scion takes Rosneft post

Posted by Aaron Kerr April 8, 2014


Russian oil giant Rosneft has another Sechin in the fold after chairman Igor’s son Ivan joined the company. The scion of one of Russia’s most powerful industry oligarchs has been in the state-controlled entity’s employ since March, a spokesperson confirmed. News of the 25-year-old’s latest job only surfaced following a report in Russian daily Kommersant on Tuesday. Yuri Kalinin, Rosneft’s vice president for HR and social policy, told Upstream the younger Sechin is working at one of the company’s “extracting… More

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Norway has substantial offshore resources

Norway has substantial offshore resources

Posted by Aaron Kerr April 7, 2014


The Norwegian Petroleum Directorate (NPD) believes that oil reserves could grow by 1200 million standard cubic metres (Sm 3 ) over the next ten years. The NPD presented its resource report on April 3. The report provides an overview of the resources in fields and discoveries on the Norwegian shelf and describes the opportunities for creating maximum value from the remaining resources. So far, the petroleum industry has created values worth more than NOK 11 000 billion for the Norwegian… More

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