Oilfield Services News


Tanjung Offshore Secures $35,9M in PTTEP, Petronas Offshore Contracts

Nov 17, 2021

Malaysian offshore services provider Tanjung Offshore, a subsidiary of T7 Group, has secured two contracts worth a combined value of about RM150 million (around $35,9 million), with oil firms Petronas and PTTEP.For Malaysia's Petronas Carigali…

Ex-Petrofac CEO Asfari Forms Offshore Wind Service Firm Venterra

Oct 29, 2021

Ayman Asfari, until recently CEO of oilfield services firm Petrofac, has with his partners, formed Venterra, a company focused on offshore wind industry services. In a statement on Thursday, Venterra said its plan was to create a global services…

TechnipFMC, Saipem in SURF Alliance

Oct 28, 2021

Oilfield services companies TechnipFMC and Saipem have entered into a commercial agreement to jointly pursue specific Subsea Umbilicals, Risers and Flowlines (SURF) projects.The companies said they target SURF project where the combination of the companies’ complementary 'world-class assets…

Petrofac Looking to Raise $275M to Pay for Bribery Penalty, Cut Debt

Oct 26, 2021

British oil services firm Petrofac Ltd said on Tuesday it planned to raise $275 million through a stock sale and use the funds to pay a fine for bribery-related offences and cut debt, sending its shares tumbling 23%.The company forecast annual…

Schlumberger 3Q Profit Rises as Oilfield Services Demand Recovers

Oct 22, 2021

Schlumberger NV reported a rise in third-quarter adjusted income on Friday, buoyed by higher demand for the company's oilfield services and related equipment from producers looking to capitalize on a rebound in crude prices.Global crude prices rose 4…

Baker Hughes Profit Misses Estimates

Oct 20, 2021

Oilfield firm Baker Hughes Co reported a quarterly profit that fell short of Wall Street expectations on Wednesday, sending its shares down sharply in pre-market trading.Oil producers and service firms are expected to be supported by a rebound…

Halliburton Posts 3Q Profit. CEO Sees a Multi-year Upcycle Unfolding

Oct 19, 2021

U.S. oilfield firm Halliburton Co on Tuesday posted its third consecutive quarterly profit, as a jump in oil prices and drilling activity boosted demand for its services and equipment.Oil prices have rallied to multi-year highs with global crude futures climbing 4…

Petrofac Gets $105M Fine for Middle East Bribery. Shares Jump

Oct 05, 2021

British oil services company Petrofac was fined 77 million pounds ($105 million) on Monday and a former executive received a two-year suspended sentence after both pleaded guilty to bribery in Iraq, Saudi Arabia and the United Arab Emirates…

Petrofac Eyes Refinancing as It Faces $240M Bribery Fine

Oct 04, 2021

British oil services group Petrofac said it is looking at refinancing options including debt and fresh equity as it faces a possible $240 million fine from a London court.Petrofac decided to plead guilty to seven charges after a four-year Serious…

Expro, Frank's Merge

Oct 04, 2021

UK-based oilfield services firm Expro and Dutch-based drilling and completions solutions provider Frank’s International have completed the previously announced all-stock merger.The combined company has assumed the Expro Group Holdings name.'This…

Petrofac Bribery Case Sentencing Delayed

Oct 01, 2021

The sentencing in a London court of British oil services group Petrofac over charges that it failed to prevent bribery in Iraq, Saudi Arabia, and the UAE has been postponed to Monday, a court spokesperson said in an email.Petrofac had said it…

Halliburton to Assist Chariot with Offshore Drilling Operation in Morocco

Sep 23, 2021

Oil and gas firm Chariot has signed a binding letter of intent with oilfield services giant Halliburton for services on Chariot's planned Anchois gas appraisal well within the Lixus licence, offshore Morocco.The agreement with Halliburton follows…

Penspen Reels In $70M Worth of Middle East and Africa Contracts

Sep 08, 2021

Energy services firm Penspen said Wednesday it had recently secured more than $70 million worth of contracts in Middle East and Africa so far this year.The company’s Project Management Consultancy (PMC) service line has secured more than $50 million from five new…

TechnipFMC Sells 9.9% Stake in Technip Energies for $233M

Sep 03, 2021

Energy industry services firm TechnipFMC said Friday it had sold a 9.9% stake in Technip Energies to Hal Investments for €196.2 million (~$233 million).Technip Energies was created in February 2021 after TechnipFMC completed its spin-off transaction to create two independent…

Petrofac Names New CFO

Sep 01, 2021

Oilfield services provider Petrofac said Wednesday that Afonso Reis e Sousa had taken over as its Chief Financial Officer and Executive Director.Reis e Sousa succeeds Alastair Cochran, who has now left the Petrofac and has stepped down from its Board…

Current News

COSL to Buy Four New Jack-Up Drilling Rigs for $445M

COSL to Buy Four New Jack-Up Drilling Rigs for $445M

TotalEnergies to Talk about Namibia Oil Exploration, Share Buybacks

TotalEnergies to Talk about Namibia Oil Exploration, Share Buybacks

Why the Volatile South Caucasus is Important for Oil and Gas supplies

Why the Volatile South Caucasus is Important for Oil and Gas supplies

Japan's Mitsui, Canada's Northland to Build 1 GW Offshore Wind Farm in Taiwan

Japan's Mitsui, Canada's Northland to Build 1 GW Offshore Wind Farm in Taiwan

Subscribe for OE Digital E‑News

Offshore Engineer Magazine