Finding extraordinary engineers for exceptional clients

McFarland named interim IADC president

November 30th, 2015

Jason E. McFarland has been appointed interim president of the International Association of Drilling Contractors, replacing Stephen A. Colville, who resigned as president and chief executive officer.

Oil production starts from Edvard Grieg offshore Norway

November 30th, 2015

Lundin Petroleum AB started oil production on Nov. 28 from Edvard Grieg field in PL338 on the Utsira High of the North Sea, about 180 km west of Stavanger.

Ophir moves ahead on Fortuna project

November 30th, 2015

Ophir Energy PLC has contracted Fugro NV to perform autonomous underwater vehicle (AUV) surveys as well as geotechnical, environmental, and metocean surveys at its Fortuna project, 140 km west of Bioko Island, where Ophir is planning a large floating LNG installation and associated subsea structures.

The world already has its leaders on climate mitigation

November 30th, 2015

Amid grandiosity sure to suffuse the summit starting soon in Paris, leaders of impossibly many countries will claim also to lead international efforts to mitigate climate change.

Watching Government: Wyoming proposes flaring changes

November 30th, 2015

The Wyoming Oil & Gas Conservation Commission proposed changes in its requirements covering flaring of associated gas at wells within the state.

STEO: Annual non-OPEC oil output to decline in 2016

November 30th, 2015

Oil supplies from countries outside the Organization of Petroleum Exporting Countries are forecast to decline by 300,000 b/d in 2016, after an increase of 1.1 million b/d in 2015, according to the most recent Short-Term Energy Outlook from the US Energy Information Administration.  

New Trinidad and Tobago government takes ‘use or lose’ exploitation stance

November 30th, 2015

The newly elected Trinidad and Tobago government has announced that upstream operators will have to fully exploit their blocks or relinquish idle acreage.

CSIS forum: Nigerian oil reform appears possible, but difficult

November 30th, 2015

Depressed crude oil prices, coupled with the election of a reform-minded administration, gives Nigeria an opportunity to change its state-owned petroleum operations, two speakers suggested at a Center for Strategic and International Studies event.

Four European countries launch $500m project to cut carbon emissions

November 30th, 2015

Germany, Norway, Sweden, and Switzerland have today announced a new $500m initiative to find new ways to create incentives aimed at large scale cuts in greenhouse gas emissions in developing countries.

The Transformative Carbon Asset Facility was unveiled at the COP21 Paris climate talks and will help developing countries implement their plans to cut emissions by working with them to create new classes of carbon assets associated with reduced greenhouse gas emission reductions, including those achieved through policy actions.

The facility – which was set up with help from The World Bank Group – will measure and pay for emission cuts in large scale programmes in areas including renewable energy, energy efficiency and low carbon cities.

It could, for example, make payments for emission reductions to countries that remove fossil fuel subsidies or embark on other reforms like simplifying regulations for renewable energy.

World Bank Group President Jim Yong Kim said: “We want to help developing countries find a credible pathway toward low carbon development. This initiative is one such way because it will help countries create and pay for the next generation of carbon credits.”

The new initiative is planned to start next year with an initial expected commitment of more than $250m from the contributing countries. The facility will remain open for additional contributions until a target of $500m is reached. It is expected that the new facility’s support will be provided alongside $2bn of investment and policy-related lending by the World Bank Group and other sources.

Norwegian Prime Minister Erna Solberg said that “putting market forces to work is an efficient way of reducing emissions”.

“We expect to achieve significant impact on the ground through the facility and ensure the sustainability of reducing emissions even beyond the facility’s initial support, for example, through carbon pricing instruments like emissions trading systems and carbon taxes, or stronger low-carbon policy standards and their enforcement.”

Study: Cyber security strategies limited

November 30th, 2015

Oil and gas companies have strengthened management of information security, but many haven’t formalized related strategies, says DNV GL of Norway.

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