Maersk Drilling is reducing its workforce at its Copenhagen headquarters by 70 in response to the continued market decline and reduced industry activity. Image from Maersk. The…
Aker BP's Ivar Aasen project has won approval to start production in early December from the Norwegian Petroleum Directorate (NPD), the agency announced today (24 October). Illustration of Ivar Aasen…
Brazil’s Petrobras and France’s Total have entered into a strategic alliance for upstream and downstream activities in Brazil, that will expand internationally. Image of Pouyanné, from Total. Petrobras…
Businesses working in the East of England gas industry were told there were at least another 20 years’ production left in the Southern North Sea by a government expert at Westminster. Production is expected to continue until at least 2035…
Singapore's Sembcorp Marine has agreed to buy the remaining 30% stake in Sembmarine North Sea that it doesn't already own. The firm owns UK fabrication yard Sembmarine SLP, once SLP Engineering, and will allow the yard to expand its footprint in the UK…
A sustained low oil price environment is a challenging one, with 'survival of the fittest' being an undeniable reality of the sector. Upstream exploration and production (E&P) operators, in the past two years, have scurried to re-evaluate their operational Business as Usual (BAU) practices…
Verus Petroleum entered into a sale and purchase agreement with Maersk Oil North Sea UK for the acquisition of Maersk Oil’s 9.8% interest in the Boa oil field, increasing Verus’s interest in the Boa field to 11.35%. The deal also adds approximately 1800 boe/d to Verus’s daily production…
Hurricane Energy is looking to raise US$86 million (£70 million) of new capital to fund its Lancaster development, West of Shetland, offshore the UK. Image from Hurricane Energy. The…
Well integrity and reliability software supplier ExproSoft has acquired Miriam, a supplier of RAM analysis software. Image of Odd Are Svensen (CEO, ExproSoft) and Christophe Spaggiari (CTO, Miriam)…
Global Maritime Consultancy & Engineering has been awarded a master services agreement (MSA) by Norwegian operator Statoil. Services covered in the global agreement include platform technology studies; safety studies; marine verification…
Rowan Companies has received two early termination notices this month, in addition to booking more work and selling one jackup. Image of a Rowan jackup, from Rowan. Cobalt International…
Paragon Offshore has won a short-term contact with Centrica for the B391 jackup, offshore the UK. The B391 will preform light well intervention work from late-October to late-November 2016 at a dayrate of US$53,000. Centrica and Paragon…
Royal IHC has signed a new contract for the engineering, procurement and construction (EPC) of a tandem mooring and offloading system for a floating, storage and offloading (FSO) vessel. Image from Royal IHC…
Repsol Sinopec North Sea (formerly Talisman North Sea) has extended its lease on the Bleo Holm floating production, storage and offloading (FPSO) unit up to 30 June 2018. The Bleo Holm is the sixth Bluewater designed, built, owned and operated FPSO…
Kvaerner can deliver such projects at a cost which is attractive even with oil prices at levels around US$50/bbl, but the timing of new projects remains uncertain, says Norwegian engineering and fabrication group Kvaerner. The firm,…