Mexico will offer its ailing state oil company Pemex a lifeline for only one year by dipping into its budget stabilization fund, Finance Minister Carlos Urzua said on Friday, ruling out that the government will absorb the debt.With $106 billion in financial debt…
Norwegian seismic acquisition company SeaBird Exploration said it is in an exclusive process to acquire the seismic vessels BOA Galatea and BOA Thalassa owned by BOA Offshore in a transaction which values the vessels at NOK 185 million ($22 million)…
NigerStar 7, a joint venture between Subsea 7 and Nigerdock, said it has acquired 2009-built pipelay vessel Seven Antares, The Seven Antares, previously owned by Subsea 7, has a 300-ton main crane capacity and is a 120-ton S-lay vessel with capacity to lay pipe of up to 60-inch diameter…
Maersk Supply Service (MSS) announced it will equip its vessels to use data to optimize operations and save fuel in real time.The offshore services company said on Friday it signed a contract earlier this month with Eniram, a Wärtsilä company…
Norway's oil production dropped 8.2 percent in March year-on-year to 1.396 million barrels per day, lagging the official forecast for the month by 1.5 percent, Norway's Petroleum Directorate (NPD) said on Friday.Technical problems at certain…
McDermott International announced Friday it has secured a contract from Qatargas for engineering, procurement, construction and installation (EPCI) for expansion of the North Field offshore facilities in the State of Qatar.The contract is worth between $50 million and $250 million…
Oil and gas organizations have significantly improved safety over the years, and evaluating a company’s safety culture can identify areas for further gains. But culture is hard to measure and even more difficult to change.Over the past 10 years…
Chevron Corp on Friday said it will buy oil and gas producer Anadarko Petroleum Corp for $33 billion in cash and stock in a deal that doubles down on its bet on U.S. shale and LNG as U.S. energy production is shattering records.The deal makes Chevron the second-largest major by crude production…
The Estonian government has refused to start the permitting process for the building of a $1.9 billion, 600-MW offshore wind farm off the west coast of the island of Saaremaa, citing national security concerns.The Estonian developer Saare Wind…
China Energy Investment Corporation (CHN Energy) and Électricité de France Group (EDF Group) have signed a deal to jointly develop an offshore wind power project in China’s eastern Jiangsu province, Chinese official media reported.As per the agreement…
Norwegian geoservices company Shearwater GeoServices has been awarded a multi-project marine seismic 3D and 4D acquisition contract by Anglo-Dutch energy giant Shell.The contract covers four separate surveys; three in the North Sea and one off the coast of Western Australia…
Norway's offshore safety watchdog has give Lundin consent to drill a pair of exploration wells in the North Sea, the Petroleum Safety Authority said on Thursday.The two wells 16/5-8 S and 16/5-8 A are in production licence 815, where Lundin is operator with 60% interest…
Norwegian oil company Okea, partly owned by Thailand's Bangchak Corporation and private equity firm Seacrest Capital, announced plans on Thursday for an initial public offering on the Oslo stock exchange this year.Okea said it had hired investment banks Pareto Securities…
Royal Dutch Shell announced it will sell its stake in the deepwater Caesar Tonga field in the US Gulf of Mexico for $965 million in cash to a subsidiary of Israel's energy conglomerate Delek Group.Company unit Shell Offshore will sell its 22…
Subsea services group Acteon announced Thursday it has agreed to acquire offshore marine geotechnical and geophysical survey company Benthic. The transaction is expected to complete in May 2019.Houston headquartered Benthic adds deepwater and…