Aker Solutions saw a 16.5% drop in its revenue in Q4 2015 as the market activity declined, especially in the North Sea, that will result in the company to slow down activity, reduce costs, and streamline its maintenance, modifications, and operations (MMO)…
Eni, Europa, ExxonMobil, Nexen, Scotia, Statoil and Woodside are among those awarded licenses in Irelan's latest offshore round. In total, 14 new licensing options in the Irish offshore have been offered, following the conclusion of the…
During the period of 5-7 January 2016, the Petroleum Safety Authority (PSA) Norway conducted an audit on ENI Norge's facility Goliat FPSO. The audit was conducted as a follow-up to an audit carried out in June 2015 linked to logistics on Goliat…
Spanish oil and gas explorer Repsol is planning to shut down its Varg field operations offshore Norway, due to the low oil prices, according to news reports. The Petrojarl Varg. Image from Teekay…
Total may have taken an 18% hit in its net income compared to 2014, but the French company said it was “the best performance among the majors.” Image of Total CEO Patrick Pouyanne. From Total Twitter…
The High Court of Justice of England and Wales has sanctioned the mega merger between supermajor Shell and BG Group, paving the way for the biggest merger in more than a decade to be complete early next week. However, the merger remains…
Huisman CEO André Meijer has stepped down from his role after less than half a year in the post, the firm and Meijer jointly announced yesterday. Dutch offshore heavy construction equipment manufacturer Huisman is now looking for an internal…
Despite posting an increase in profits, Danish drilling firm Maersk Drilling has warned that there's a need for a different cost level in the offshore drilling industry. The firm posted US$751 million profits for 2015, up from $478 million in 2014…
Tullow Oil’s TEN project is more than 85% complete and is set for production start-up between July and August 2016, which will help the company drive further reductions in operating costs and capital expenditure. Image from Tullow…
SBM Offshore says there are no signs of recovery before 2018, as the floating production specialist reduced its workforce by 3200 in 2015, with more job cuts expected this year. Image of the Cidade de Saquarema in Guanabara Bay…
DONG Energy has signed and completed an agreement to divest 50% of the 258 MW UK offshore wind farm project, Burbo Bank Extension, to Danish pension provider PKA and KIRKBI, parent company of the LEGO Group. Each investor will obtain a 25% ownership interest in the project…
Parker Bestobell Marine has completed a contract to supply cryogenic globe and check valves made in Sheffield, for Hoegh LNG’s series of five floating storage regasification units (FSRUs) that are being built at Hyundai shipyard (HHI) in South Korea…
Bristow Group has invested US$4.2 million in Sky-Futures, drone inspection data services provider for the oil and gas industry, giving Bristow immediate entry to the fast-growing UAV services business. Image from Sky-Futures…
Petrofac's enginnering and production services business SPD Ltd. was awarded a contract by Zennor Petroleum to provide well design and well construction management services, to support the Finlaggan appraisal well which is located in the central sector of the North Sea…
Golar LNG Ltd. entered into a purchase agreement to sell the Golar Tundra, a floating storage and regasification unit (FSRU), to Golar LNG Partners for US$330 million. In connection with the closing, the Golar Partners will receive a daily fee plus operating expenses…