Offshore Activity - page 1065


Cypriot love potion for the eastern Med

Nov 27, 2012

Like a Christmas present, what was widely rumored and anticipated following recent Israeli hydrocarbon discoveries, Houston’s Noble Energy announced in late December 2011 the results of its recent well in the Cypriot Economic Zone. It contains up to 9tcf of natural gas…

Tullow picks up Guinea stake

Nov 20, 2012

Tullow has reached an agreement for 40% operating interest in Houston-based Hyperdynamics' offshore Guinea concession, the two companies announced on 20 November 2012.In late October, Tullow expressed interest in joining the concession. Hyperdynamics…

China’s oil thirst

Nov 20, 2012

China is on track to reach levels of oil use on par with today’s US demand by 2040, according to a new study by the James A Baker III Institute for Public Policy at Rice University in Houston.The study, The Rise of China and Its Energy Implications…

Upstream spend up sharply in 2010

Nov 20, 2012

Global upstream spending ballooned by 47% in 2010, driven by substantial investments in the US and Latin America, IHS reported. In the IHS Herold 2011 Global Upstream Performance Review, the information service said capital spending among 221 oil & gas companies reached $558 billion in 2010…

Brent crude on a high

Nov 20, 2012

The annual average oil price of global benchmark Brent crude for 2011 is poised to be the highest (in both real and nominal terms) since 1860, the year after the birth of the modern oil industry in Titusville, Pennsylvania, according to a report by IHS Cambridge Energy Research Associates…

Southern exposure

Nov 20, 2012

Rolls-Royce is betting big on Brazil, where the company's energy business, recently bolstered by lucrative contracts with Petrobras, is setting up a $100 million-plus purpose-built gas turbine assembly and test facility. Russell McCulley reports…

Forging on regardless

Nov 19, 2012

The new year of 2012 does not offer great tidings of comfort and joy for the marine seismic business. Andrew McBarnet explains why.Contemplating prospects for 2012, there is a discernible air of frustration, even resignation, in the marine seismic community…

Proserv wins Cygnus topside controls

Nov 12, 2012

Proserv workerAMEC has chosen Proserv to supply topside control equipment for GDF Suez's Cygnus field development on the southern North Sea, Proserv announced on 8 November 2012.Under the terms of the $1.9 million contract, Proserv will supply the design…


Nov 10, 2012

DHL has launched an Energy Center in Houston to showcase the logistics company's offerings in the E&P sector as well as addressing compliance and innovation testing. Steve Harley, energy sector president at DHL Customer Solutions & Innovation…

Emerson Process Management

Nov 10, 2012

Emerson Process Management is teaming with Statoil for a 'total uncertainty management' programme focusing on how E&P companies can improve history matching and uncertainty management & quantification across the reservoir characterization workflow using Emerson's Roxar ENABLE software.

Flexible Friend

Nov 10, 2012

Dana Petroleum (E&P) last month took over the operatorship of the Triton FPSO from Hess in a move that according to Dana's UK MD Paul Griffin 'underlines our strategy to move from largely non-operated activities to full-operated field management on the UKCS '…

Forum Energy Technologies

Nov 10, 2012

Forum Energy Technologies has acquired Syntech Technology, a Lorton, VA-based manufacturer of syntactic foam buoyancy materials used for ROVs and other deepwater flotation applications. Cris Gaut, Forum's chairman and CEO, said the deal 'integrates an important part of the ROV supply chain'.

Helix Energy Solutions Group

Nov 10, 2012

Helix Energy Solutions Group is selling its Caesar, Express and Intrepid pipelay vessels with related equipment in separate transactions. Coastal Trade is purchasing the Express and Caesar for US$238 million in deals expected to close next year…

ITT Corporation

Nov 10, 2012

ITT Corporation has signed an agreement to acquire Germany's Bornemann Pumps. Robert J Pagano Jr, president of ITT's industrial process business, said Bornemann's twin-screw technology and multiphase applications experience would align strategically with his business line…

Kohlberg Kravis Roberts & Co

Nov 10, 2012

An affiliate of Kohlberg Kravis Roberts & Co (KKR) has acquired a majority interest in the Acteon subsea services group from First Reserve, with management retaining a significant holding in the company. The executive management team will remain in place…

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