China Merchants Offshore Technology Research Center (CM-OTRC), the R&D center for China Merchants Industry Holdings (CMI) of Shenzhen, China, have completed the basic design of the OOS Zeelandia a new semisubmersible crane vessel (SSCV) that…
Petrofac announced on Tuesday that its Engineering and Production Services (EPS) business has been awarded two operations and maintenance (O&M) contract extensions for long-standing clients worth a combined value of approximately $32 million…
Renewable energy investment in the Asia-Pacific region will overtake spending on oil and gas exploration by 2020, consultancy Rystad Energy said on Monday.Total capital expenditure in renewables will rise above $30 billion in the region by 2020…
Oil and gas companies working in Norway have hiked their 2019 and 2020 investment forecasts as they add more field development plans, a survey by the country's statistics agency (SSB) showed on Tuesday.Higher investment raises the prospect of further interest rate hikes by Norway's central bank…
Occidental Petroleum snatched up some of the richest shale oilfields in Texas when it beat out rival Chevron Corp in a bidding war to acquire Anadarko Petroleum.It also quadrupled its debt - to $40 billion - at a time when investors are calling for spending cuts and higher dividends…
Brazil's Petroleo Brasileiro SA is nearing the sale of two oilfields in a process that could fetch around $1 billion and aid the state-run oil firm in its bid to reduce debt.Petrobras, as the company is known, has set a June 5 deadline to receive…
Whatever its investments in wind, Equinor on Monday received a much anticipated greenlight to drill for oil in a mature quadrant of the North Sea, where success with the drill bit could again change field economics for the giant Johan Sverdrup field — and other…
ACE Winches said it has been awarded two contracts from Subsea 7 to use the Scotland-based company's linear winch pull-in systems in the US Gulf of Mexico.ACE Winches did not reveal the exact contract values, but said each is worth more than £4 million ($5…
Survey and positioning services provider iSURVEY informs it has been awarded a contract to perform a drilling hazard survey campaign in the North Sea and in the Barents Sea, on behalf of Lundin Norway.Work commences in June, with a seabed geological…
While the oil and gas industry shows signs of stabilization, the imbalance in value and margins between exploration and production (E&P) companies and the oilfield service segment is significant, according to a report by Deloitte.A major worry…
Offshore engineering firm Aquaterra Energy has opened its first engineering office and warehouse facility in Perth, Australia following recent regional contract wins.Located on Murray Street, Perth, Aquaterra Energy’s new office in Australia’s…
Teekay said it has entered into an agreement with Canadian Natural Resources (CNR) to extend the employment of the Petrojarl Banff FPSO unit on the Banff field in the UK North Sea for a period of one year to the end of August 2020.According to Teekay…
Oslo-listed BW Offshore said it will float BW Energy this year to help expand the oil and gas business, particularly in Brazil, as its first quarter earnings rose 72%.Shares in BW Offshore, originally an owner of floating production, storage…
Dutch firm Heerema Marine Contractors and Singapore's Sembcorp Marine, on Thursday, showed off the world's largest crane vessel that can be used for the setup and decommissioning of offshore oil and gas facilities.The semi-submersible vessel…
Offshore drilling contractor Seadrill is considering selling non-core assets, including its 15.7% stake in oil service firm Archer , to reduce its liabilities, the firm's outgoing chief financial officer said on Thursday.Seadrill, controlled by Norwegian billionaire John Fredriksen…
