Almost one in three workers in the oil and gas industry faced pay cuts in 2020, a worldwide survey showed on Tuesday, as the coronavirus crisis drove down fuel demand and prices.Oil and gas workers are still among the highest paid in the world, but a majority of those questioned said they felt less secure about their jobs than a year ago, as the shift to low-carbon energy sources trimmed investment in their industry…
The Norwegian offshore seismic survey company PGS said Thursday it had secured a 3D exploration acquisition contract in the Mediterranean with an unnamed independent energy company. The company's 104.2-meter-long and 70-meter-wide Ramform Hyperion vessel will start the survey in late November…
WAGO, a developer of connection systems in electrical engineering and electronics, announced it has named Jesse Cox as Director of Automation Sales Engineering and Development.Cox has been with WAGO for 10 years, most recently as the Senior Sales and Application Engineer for Linux and IIoT…
Offshore vessel operator Olympic Subsea said Wednesday it had struck a deal with a majority of its bank lenders for a restructuring of the financial indebtedness of the group. The terms of the transaction will result in a reduction in annual debt service…
Offshore seismic data company ION Geophysical has this week said its Board of Directors has started a process to evaluate a range of strategic alternatives to strengthen its financial position and maximize stakeholder value 'as the company continues…
FPSO supplier BW Offshore has secured a $1.15 billion loan for the construction and operation of the FPSO for Australia-based Santos' Barossa offshore gas field.Earlier this year Santos and BW Offshore signed a contract for the delivery of an FPSO for the Barossa gas field…
Malaysian FPSO specialist Bumi Armada has amended the maturity of a portion of the $660 loan from 2019, citing the impact of the coronavirus pandemic on its business.Bumi Armada said the loan agreement has been amended on to extend the final…
Offshore drilling contractor Borr Drilling has appointed Magnus Vaaler as its new Chief Financial Officer, replacing Christoph Bausch with effect from December 28, 2020.Vaaler currently serves as VP of Investor Relations and Treasury in the company…
Houston-based engineering giant KBR has said that its joint venture with the Azeri oil firm SOCAR, which is working on the engineering design phase of the Azeri Central East (ACE) platform, is now nearing completion of its workscope.The $6 billion…
Rovco, a UK-based provider of ROV and hydrographic services has completed the first stage of its long-term contract awarded by CWind for its annual subsea balance of plant (BOP) and cable inspection works at East Anglia ONE offshore windfarm in the UK…
Maritime and offshore classification company ABS has expanded its remote surveying capabilities in the offshore industry saying Thursday it could provide remote surveys for the majority of the world’s offshore drilling units.'Already the industry’s most comprehensive remote survey program…
Norwegian seismic surveyor PGS has completed the acquisition of three new 3D seismic surveys offshore Newfoundland and Labrador, Canada.The company Wednesday that the initial first fast-track results would be delivered in Q4 2020, with final…
Marine seismic data acquisition company Magseis Fairfield has received a conditional Letter of Award from an undisclosed multiclient company for a four-month Ocean Bottom Node (OBN) survey in the Gulf of Mexico.'The survey is anticipated to start in the beginning of April 2021…
Norwegian maritime equipment and technology giant Kongsberg Maritime has received Approval in Principle from Bureau Veritas for its Dynamic Positioning Digital Survey (DPDS) application.Kongsberg says that its DPDS application digitizes all the data derived from the DP Annual tests…
Petroleum consumption growth has been slowing for decades and the industry shows increasing signs of maturity, which will have profound implications for the business strategies of oil-producing companies and countries.Slower growth will intensify…
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