As Petroleum Geo-Services looks to further streamline its operations and cut costs, the company is stacking and considering scrapping or selling two vessels, and selling its PGS Khazar joint venture. PGS says the cuts, along with other initiatives…
Engineering and project services company Clough Ltd. acquired Booth Welsh, a privately owned engineering services company headquartered in Ayrshire, Scotland. The acquisition follows the establishment of Clough’s engineering center in Glasgow earlier this year…
Two years in the making, Aker Solutions and Baker Hughes’ subsea production alliance was rubber-stamped by the regulatory authorities last week. The alliance, which brings together two companies that might not be seen as natural bed-fellows…
Marine and engineering consultancy Aqualis Offshore opened an office in Mexico City, Mexico. This is the tenth country the company has entered since starting operations just over a year ago. In addition, Aqualis Offshore will this month…
Mubadala Petroleum began drilling operations at the Manora oil development in the Northern Gulf Thailand, reported joint venture partner Tap Oil Ltd. The Atwood Orca jackup did the honors of spudding MNA-02, the first of 15 planned development wells…
Downer EDI Ltd. secured a contract on the Chevron-operated Gorgon project, located on Barrow Island off the northwest coast of Western Australia. The US$170 million contract is for an initial term of 12 months, with extension options…
Venezuelan President Nicolas Maduro announced a restructuring of state oil company PDVSA, replacing Rafael Ramirez with Eulogio del Pino. Del Pino, former exploration and production chief, will take the reigns as the new president of the Venezuelan state oil company…
Tullow Oil announced that its subsidiary Tullow Exploration & Production has agreed to sell its operated and non-operated L12/L15 block interests and non-operated Q4 and Q5 block interests to AU Energy, a subsidiary of Mercuria Energy Group…
DNV GL is launching three new joint industry projects (JIPs) to advance the offshore pipeline industry. The three JIPs include free spans in trenches, pipeline repair and design of pipeline components. DNL GL says that with the oil and gas industry’s push into new energy frontiers…
Aker Solutions and Baker Hughes Inc. received necessary regulatory approvals for the Subsea Production Alliance announced in April 2014. The two companies agreed to form the alliance a few months ago develop technology for production solutions designed to boost output…
InterMoor, an Acteon company, opened a major new storage, maintenance and inspection facility in Aberdeen, UK. The new base will support InterMoor’s global mooring operations with a focus on Europe, Africa and Asia. “The new location…
In order to expand its Brazilian business, Polarcus has teamed up with Sinergeo for the management of Polarcus do Brazil in Rio de Janeiro. With the addition of Marcelo Fonseca and Marcos Gallotti to the company’s management team, Polarcus…
Viper Subsea won a multimillion-dollar contract to supply subsea hydraulic and electrical distribution equipment to an unnamed oil field in the Caspian Sea. The contract includes the design and supply of subsea equipment, in addition…
Baker Hughes Inc. completed the acquisition of Weatherford’s pipeline and specialty services business for US$250 million. The total consideration includes $241 million in cash and $9 million in retained working capital. The purchase…
Canada-based, North Sea-focused independent exploration firm Iona Energy has appointed two industry veterens to its ranks and said it plans to go on the acquisition trail as part of growth plans. Former Ithaca Energy CEO Iain McKendrick…
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