Special reports

Plug & abandonment (P&A) and well repair specialist HydraWell has appointed Mark Sørheim as its new chief executive officer.

Move set to strengthen service offering in Asia Pacific and further extends global reach.

Statoil reports adjusted earnings of US$3.0 billion and adjusted earnings after tax of US$1.3 billion in the second quarter of 2017. IFRS net operating income was US$3.2 billion and the IFRS net income was US$1.4 billion.

Optical-gas imaging makes gas clouds visible and operates as an infrared sensor capable of operating within the thermal spectrum, Laith Amin, Advisian, explains.

Cabot Energy has provided the following update on the company's production and operations ahead of the start-up of the Canadian summer work programme.

Marius Kluge Foss and Gina Nygard, Rystad Energy, review the state of the upstream industry on the Norwegian Continental Shelf and propose a way to electrify the Barents Sea, the new Norwegian petroleum province.

Record number of expert submissions to technical conference; programme underlines Abu Dhabi’s leadership in energy world.

Horizon Oil is pleased to advise that it has increased to about 28% its interest in the total certified resources contained in Papua New Guinea’s Western Foreland fields of 2.0 - 2.5 tcf gas and 60 - 70 million bbls of condensate.

This figure includes the accounting impact produced by the full consolidation of the Quintero LNG plant in Chile, included since January 2017. Taking this into account, net profit has increased by 25.6% on the same period last year.

In recent weeks, upstream North American markets have recovered more strongly than formerly anticipated. Higher levels of frack fleet utilisation and significant tightening of industry capacity are both benefiting the Group’s Oil & Gas division.

EIA now forecasts Brent crude oil spot prices to average US$51/bbl in 2017 and US$52/b in 2018. West Texas Intermediate (WTI) crude oil prices are expected to be US$2/bbl lower than Brent prices in 2017 and 2018.

This includes a 41% increase in estimated development gas well completions and a dramatic 81% increase in total estimated oil well completions from year-ago levels.

Global energy investment fell by 12% in 2016, the second consecutive year of decline, as increased spending on energy efficiency and electricity networks was more than offset by a continued drop in upstream oil and gas spending.

Conventional exploration performance has improved considerably in 2017, with commercial success rates above 50% and much lower finding costs than for the same period in 2016.

The recent financial pressures as a result of the oil downturn have left cyber security functions for many firms within the oil and gas sector considerably underfunded and out of date.