Shipbuilding firm Vard has set up a new subsidiary for ship design, engineering and sales activities in Canada. Vard Marine Inc. is a ship design and marine engineering company providing solutions for offshore and specialized vessels such as offshore support…
Saipem has been contracted by South Stream Transport for the construction of the first line of the South Stream Offshore Pipeline, from Russia to Bulgaria across the Black Sea, for a total value of about US$2.7 billion. The South Stream…
Cairn Energy's JM-1 well, offshore Morocco, is to be plugged and abandoned without testing, after funding heavy oil. The JM-1 well (operated by Cairn with 37.5% WI) was drilled to evaluate Upper Jurassic and Middle Jurassic objectives…
Germany’s RWE Aktiengesellschaft has conditionally agreed to sell its exploration and production firm subsidiary RWE Dea AG to Russian-backed LetterOne Group for about Euro 5.1 billion (US$7 billion). LetterOne was founded last year as an investment vehicle…
GE formally opened its newly expanded oil and gas facility in Fót, Hungary. The GE Oil & Gas manufacturing plant has been substantially enlarged with the addition of a new 8000sq m manufacturing facility and a new office building of 3000sq m…
Germany-based crude oil and natural gas producer is planning to divest its shareholding in the Eastern German company Verbundnetz Gas AG (VNG) as part of its strategy to concentrate on the upstream sector. A 24 March agreement will see EWE Aktiengesellschaft take over Wintershall’s 15…
An inquiry into the 2009 North Sea helicopter crash, in which 16 men lost their lives, found that had three failures by aircraft operator Bond Offshore Helicopters not happened, the incident 'might' have been avoided. The Fatal Accident…
Wrench time has been highlighted as one of the key areas the UK offshore oil and gas industry needs to address to improve production efficiency levels. Average wrench time - the amount of time spent working on a mechanical project, either…
Chevron’s leadership set out the oil major’s plans out to 2020 this week, including eying exploration opportunities offshore Greenland, to maintain its reserves hopper. Chevron is planning 20% production growth, from 2.6MMboe/d in 2013…
Ship designer and builder Vard Holdings has agreed a letter of intent with Solstad Offshore for the design and construction of a large offshore subsea construction vessel (OSCV). The contract will be the largest single vessel order in…
Wireless tractor on catwalk prior to picking up to the rig floor at onshore well test site. (BP) The first version of a new autonomous tractor unit for well work, developed by Welltec and BP…
The supervisory board of South Stream Transport BV approved the signing of a construction contract for the South Stream Offshore Pipeline on 11 March 2014, a day after European Union Energy Commissioner Guenther Oettinger was quoted by German daily newspaper Die Welt…
Tidal energy developer, Oceanflow Energy, has attracted a £300,000 package of support to further develop and commercialise its second generation tidal energy device, Evopod. The company has developed and patented a technology to generate electricity from tidal streams and ocean currents…
WesternGeco and PGS have been awarded contracts for a joint industry seismic acquisition in the southeastern Barents Sea. The surveys cover blocks proposed for the 23rd concession round by the Norwegian Ministry of Petroleum and Energy (MPE) and will in total cover about 13…
An Arctic petroleum research center has been launched in Tromso, Norway, to increase knowledge about hydrocarbon exploration in the region. The Research Centre for Arctic Petroleum Exploration (ARCEx) is funded by the Norwegian…
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