Noreco Cuts Half of Its Employees Workforce To Reduce Costs

(OFFSHORENO) The crisis-ridden oil company Noreco must implement drastic cost cuts, it emerges in a statement Wednesday. The company writes that it wants to limit the financial obligations, particularly the exploration costs. Noreco also writes that about half of the 30 employees lose their jobs in the company. It's sad, but there is little way around [...]

By | July 3rd, 2015|News, Oil & Gas|0 Comments

Small Oil And Gas Discovery Near Gina Krog

(OFFSHORENO) Statoil, operator of Gina Krog field, has completed the drilling of wildcat well 15 / 6-13 and appraisal wells 15 / 6-13 A and 15 / 6-13 B. Found as a whole is the total oil and gas column totaling approximately 300m, of which 150m for each of them. Preliminary estimates of the size of [...]

By | July 2nd, 2015|News, Oil & Gas|0 Comments

Bankruptcy and More Layoffs Could Threaten Industry Even After Downturn

(RIGZONE) Just a few short years ago, the oil and gas industry was wringing its collective hands in angst over the profound shortage of workers needed to usher in the shale revolution. New college grads had all but abandoned the oil patch in favor of high tech; middle managers hadn’t returned to the profession after they [...]

By | July 2nd, 2015|News, Oil & Gas|0 Comments