West Texas Intermediate crude (WTI) fell below US$50/bbl, to $49.93/bbl, on 20 July for the first time since April, despite reports that Saudi Arabian exports have fallen to their lowest in five months. According to statistics published by the Energy Information Agency (EIA)…
Chinese shipbuilder, SINOPACIFIC Shipbuilding Group won the bid for the construction of nine anchor handling tug supply (AHTS) vessels for Abu Dhabi National Oil Co. (ADNOC) and its wholly owned subsidiary, ESNAAD. The design that won the bid is the SPA80A…
Vallianz Holdings has chalked up another major string of contracts in the Middle East, taking its 2015 order book to over US$1 billion - a record for the fast growing firm. The latest contracts for Singapore-based Vallianz, which provides…
ABB received orders from Hyundai Heavy Industries for electrical and telecommunication systems. The order is worth around US$100 million, with about half booked in the 4Q of 2014, almost $27 million in the 1Q of this year and $20 million in 2Q…
Sanctions on Iran’s oil production look set to be lifted after the country and six world powers finally reached a deal over the country’s nuclear program. The agreement, reached after two years of discussions, following a 12-year stand…
The Middle East market remains vibrant with producers, led by Saudi Arabia, expected to continue spending to retain market share, Singapore based offshore support vessel operator Vallianz Holdings said today as it announced a US$300 million contract in the region…
According to the Baker Hughes offshore rig statistics, Latin America’s rig count is 62, down from 69 a month ago and down from 70 a year ago. The Europe offshore count is holding steady at 48, the same as it was one month ago and one year ago…
Saudi Aramco achieved a landmark by energizing its largest tie-in platform with a 46km-long, 230kV submarine composite cable, the longest of its kind. The tie-in platform, TP-20, lies in the world’s largest offshore oil field, Safaniya…
Saudi Aramco selected Houston-based McDermott International as one of the winners of a global competition for a new long-term agreement (LTA) for future brownfield work in various fields offshore Saudi Arabia. The LTA, which was signed on 10 June 2015…
Seismic vessels are the lifeblood of global offshore exploration efforts. Jeannie Stell searches for bright spots in the current global market of seismic vessel activity. The Sanco Sword. From Dolphin Geophysical…
Drydocks World the leading provider of maritime and offshore services to the shipping, oil, gas and energy sectors marked a major milestone in successfully completing the world’s largest turret mooring system. At almost 100m-high, weighing more than 11…
Well Flow International named Osama M. Hasan Baiej as its vice president of business development for the Arabian Gulf and North Africa. Baiej has more than 15 years of experience in business development and strategy, oilfield services…
The Israeli government came to a decision to move forward in the development and expansion of natural gas fields off the country’s coast. Prime Minister Netanyahu. From GPO. 'Today…
Xodus Group has secured a contract for the vibration assessment and analysis on the oil train piping and structures for Zakum Development Co. at Zirku Island, 140km northwest of Abu Dhabi. The work, valued at over US$600,000, will pull in services from Xodus’ process…
The future of offshore oil and gas exploration will be exploited with high-specification jackups and ultra deepwater (UDW) drillships capable of working in high-pressure, high-temperature (HPHT) environments, according to pure-play, high-specification offshore driller…