Investment costs for the Culzean project are now forecasted to be around US$4 billion, a reduction of about $500 million on the estimate at project sanction, said Gretchen Watkins, CEO, Maersk Oil at the Maersk Group Capital Markets Day in Copenhagen…
A new company, Nucore Group, has been established to create a topside engineering services group of companies. Backed by Lonsdale Capital Partners, Nucore Group currently oversees the management of Oteac and HVAC & Refrigeration Engineering (HVAC&R)…
Lokring Northern (UK), a provider of advanced fluid and gas transfer connectors, has expanded its Aberdeen office. The new premises are double the size of the previous Aberdeen headquarters, with capacity for improved training facilities and office space…
Azinor Catalyst signed an agreement to acquire a 50% operated interest in UKCS license P.2243, containing Block 14/17a from Zennor North Sea. Map from Azinor Catalyst. The license is adjacent to Azinor’s Partridge licence P…
ALE launched its latest innovation, the lightweight service crane, which is fully designed out of light modular parts that can be assembled by hand. Each part can fit in an elevator or transported over an access walkway or stairs, making…
Dutch maritime transport firm Boskalis has dropped its stake in fellow Netherlands-headquartered firm Fugro down to 9.38%, the company announced today (13 December). The news is likely welcomed by Fugro, which has been at odds with Boskalis…
DeepOcean was awarded a contract from Statoil for survey and light construction services in 2017. Image of the Superior ROV, from DeepOcean. Offshore work will be undertaken in 2017 with a vessel from DeepOcean’s in-house fleet…
Delek Drilling and Avner Oil, part of the Leviathan partnership with Noble Energy, has approved the development plan for the mega-discovery, offshore Israel, the two announced today 12 December. The decision paves the way to Leviathan's final investment decision (FID)…
A new study by Wood Mackenzie on what to expect from global oil and gas exploration in the year ahead, Global Exploration: What to look for in 2017, shows that exploration should return to profitability in 2017, after five years of only single-digit returns…
Faroe Islands-based Atlantic Petroleum is to take over as operator of the Orlando and Kells licenses in the UK North Sea following operator Iona Energy going into administration. Orlando and Kells are in UK North Sea licenses P.1606 and P…
Private equity backed explorer Azinor Catalyst has agreed to acquire 50% interest in license P2243 on the UK Continental Shelf from Zennor North Sea. The license contains Block 14/17a and is adjacent to Azinor’s Partridge license P.1989…
Independent Oil and Gas (IOG) has submitted a field development plan (FDP), in draft format, for the Blythe gas field to the Oil and Gas Authority (OGA). The Blythe field, 100% owned and operated by IOG, is in the southern North Sea…
DSME and Kongsberg Maritime entered into joint development agreement (JDA) to develop a new liquefied natural gas (LNG) floating storage and regasification unit (FSRU) control system Image of Wean…
Allseas and Nord Stream 2 signed a letter of intent (LOI) covering the offshore pipelay work for the Nord Stream 2 Pipeline through the Baltic Sea, marking the second major pipelay project that the Dutch heavy weight has entered this week…
The new Baker Hughes is expected to generate a revenue of some US$34 billion, have approximately 70,000 employees, and operate in more than 120 companies, according to GE Oil & Gas CEO Lorenzo Simonelli. Image of Simonelli…