Rystad Energy sees investments both in offshore and onshore exploration drilling doubling in the next five years, compared to the last five years. Conventional onshore demand will be driven by Asia, Africa and South America.Europe on the other hand…
Seadrill Partners, the deep-water drilling contractor for the petroleum industry, has received an early termination notice from an unnamed operator for the West Vencedor rig contract offshore Ivory Coast.The contract was expected to start in 3Q 2019…
Tekmar Energy, a provider of protection systems for subsea cable, umbilical and flexible pipes and offshore engineering services, has signed a contract with the world’s largest offshore wind developer Ørsted, to provide Cable Protection Systems for Hornsea Two offshore wind farm…
U.S. energy firms this week reduced the number of oil rigs operating for a fifth week in a row as most independent producers cut spending even though majors were still pushing ahead with investments in new drilling.Drillers cut six oil rigs in the week to Aug…
US-based Deep Ocean Engineering (DOE) has unveiled a new electric, light work-class remotely operated underwater vehicle (ROV), the Phantom X8, designed for deep sea exploration and light intervention work.The vehicle is the largest and most…
Libya's National Oil Corporation (NOC) and Italy's ENI said on Thursday they had completed the second phase of a project at the Bahr Essalam offshore gas field to increase production.The field is a joint venture between the two companies operated by NOC subsidiary Mellitah Oil and Gas Company…
On July 1, Saipem-Sonsub’s Hydrone-R underwater intervention drone was launched in water to start the endurance and qualification tests prior to its commercialization by year’s end.The Hydrone Program is the key workstream of Saipem’s Technology Development Plan within subsea robotics…
Japanese floating production specialist MODEC has developed a pair of next generation new build hull designs for floating production, storage and offloading (FPSO) vessels developed in partnership with Mitsui E&S Shipbuilding, targeting greater production and storage capacity…
Brazilian state-run oil firm Petroleo Brasileiro SA posted its highest ever quarterly profit on Thursday and handily beat analysts' estimates, thanks in large part to billions of reais in asset sales.In a securities filing, Petrobras, as the firm is commonly known…
The global offshore oil and gas seismic equipment and acquisitions solutions market stood at around $660 million in 2018 and is forecast to grow at a CAGR of 5% to cross $890 million by 2024.According to a report by ResearchAndMarkets, the growth…
Offshore services provider DEME has completed the installation of a subsea export cable for Belgian grid operator Elia's Modular Offshore Grid (MOG) ahead of schedule.The installation of 85 km of subsea export cable was done using its cable installation vessel 'Living Stone'…
Prosafe SE, the owner/operator of semi-submersible accommodation vessels, said has signed a contract with Total E&P UK Limited for the Safe Caledonia flotel to provide accommodation support at the Elgin complex in the UK sector of the North Sea…
The Norwegian Petroleum Directorate (NPD) has granted Aker BP, the oil exploration and development company focusing petroleum resources on the Norwegian Continental Shelf, a drilling permit for well 2/1-17 S located in the North Sea offshore Norway…
The oil industry has a host of methods for keeping hydrocarbons moving smoothly through flowlines, depending on what might restrict production.Hydrates, or ice-like solids resulting from the combination of free water and natural gas at high pressure and low temperature…
McDermott International announced it has been awarded a contract by Saudi Aramco to provide engineering, procurement, construction and installation (EPCI) of a production deck module (PDM) in the Hasbah gas field with hook-up and modification…