Wood Mackenzie’s annual UK upstream oil and gas review concluded that 2013 was a mixed year for the industry.Capital investment continued to increase, however, this was set against the backdrop of project delays, production underperformance and poor exploration success…
DeepOcean AS, was awarded the contract for inspection of the Nord Stream gas export pipelines in the Baltic Sea by Nord Stream AG.“Winning the Nord Stream pipeline inspection contract in the Baltic Sea has been a key target for us,”commercial director Rolf Ivar Sørdal said…
Wärtsilä signed a turnkey contract to supply a LNG receiving terminal to be built in Tornio, northern Finland. The contract, valued at about US $136 million, was made with Manga LNG Oy, a joint venture between Finnish companies Outokumpu Group…
Fairmount Marine has delivered the drilling rig ENSCO 5004 in Malta at the endof a voyage that began offshore Rio de Janeiro.ENSCO 5004 is a 1982- built, 94.7m-long, and 70.4m-wide semisubmersible. It was towed from Rio de Janeiro to Malta…
Bourbon sells 12 additional vessels to ICBC Financial Leasing for US$378 million and concludes a new sale and bareboat charter agreement with Standard Chartered Bank for $150 million Bourbon announces the transfer of ownership of 12 vessels…
Hydroid, Inc., a subsidiary of Kongsberg Maritime, has made changes to its leadership team. Christopher von Alt (pictured left) has elected to resign from his current position as president, effective January 1, 2014. Hydroid’s board…
'Unsustainable project economics' are to blame for the termination of the Kristin Gas Export Project (KGEP) in the Norwegian Sea.Statoil and partners Petoro and GDF Suez cited increased costs and volume risk for ending the project, and…
Claxton Engineering Services Ltd. celebrated the 10th anniversary of its success with the world’s first rigless platform well abandonment.For the project, the company used a custom conductor reaction recovery system—designed and manufactured…
Magseis AS has agreed a frame agreement to provide global ocean bottom seismic (OBS) acquisition services for Statoil ASA from 2014–2018.The frame agreement regulates the work that has been awarded for the 2014 and 2015 seasons, as well as for future tenders during the term of the agreement…
Exploration firm Mediterranean Oil & Gas Plc (MOG) has said the partnership behind the Area 4 production sharing contract offshore (PSC) Malta has been given a six month extension. The PSC covers Area 4, covering Blocks 4, 5, 6 and 7…
Lundin Petroleum AB is to increase its spending on new developments by 25%, to US$1.4 billion, in 2014. The majority of the cash (75%) will be spent on ongoing projects offshore Norway, with most of the rest being spent on the Bertram development in Malaysia…
Nexen Petroleum UK Ltd, a wholly-owned subsidiary of CNOOC, awarded AMEC a six-year contract to provide engineering, procurement, and construction (EPC) services for Nexen's North Sea offshore assets. The work will cover operational modifications and brownfield projects…
Asset integrity services firm Stork Technical Services has agreed to sell its subsea division to Netherlands-based N-Sea Group. Stork said the move followed a strategic review of its core business and would enable it to focus on key services and innovations…
Repeated boughts of bad weather around the UK have caused disruption to offshore oil and gas operations in the North Sea. Endeavour International Corporationsaid today that, due to the continued periods of bad weather, timing of first production from second production well…
North Sea oil and the constitutional debate in Scotland and the UK The possibility of Scotland becoming an independent country is currently attracting much interest, and not just locally, but in the rest of the UK and elsewhere as a referendum on the issue…