Services News


Oilfield Services Giant to Cut Spending by 30%

Mar 24, 2020

Schlumberger, the world's largest oilfield services company, on Tuesday said it would cut spending by 30% this year from last year's levels as the oil market has been roiled by the coronavirus outbreak and Saudi-Russia price war.The company…

DEME Unveils First SOV for Offshore Wind

Dec 16, 2019

Belgium-based offshore wind installation specialist Dredging, Environmental and Marine Engineering NV (DEME) has started building its first service operation vessel (SOV), which will be chartered by Siemens Gamesa Renewable Energy (SGRE) for work at three Belgian offshore wind farms (OWF)…

Waves Group Aids Taiwanese OWP

Sep 24, 2019

The UK-based Waves Group is currently providing marine warranty surveyor services at the 120MW Formosa 1 Phase 2 offshore wind farm in Taiwan.The company is carrying out marine warranty survey work concerning the installation of foundations…

OFS Sector Expected to Take a Hit

Sep 12, 2019

Lower oil prices will push the global oilfield services (OFS) sector into a recession in 2020 after three successive years of growth, according to Rystad Energy.In a new sector outlook update, Audun Martinsen, head of oilfield services research at Rystad Energy…

Oilfield Services Pricing Rises

Jun 24, 2019

Oilfield services companies are in bullish mode. They are now able to raise prices for their products and services, after several years of gloom.“Oil and gas investments are on the rise, and so too is the pricing power of service companies. After losing pricing power in 2015 and 2016…

Edda Accommodation CEO Retires

May 29, 2019

Edda Accommodation, a specialized provider of offshore accommodation service vessels, has announced that Johan Rokstad retired as CEO.The managing director role of Edda Accommodation is now transferred to Kenneth Walland, CEO of Østensjø Rederi…

Offshore Outlook Appears 'Strong', Say Analysts

Dec 19, 2018

The outlook for offshore oilfield service contractors is strong as more than 100 new projects are aiming for 2019 sanctions, according to Rystad Energy, a Norway-based energy research and consulting firm.An expected $210 billion will be spent on offshore oilfield services globally next year…

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