Capital expenditure (Capex) on LNG facilities has risen substantially in recent years, mostly due to growth in the global economy which has been driving demand for natural gas. Douglas-Westwood (DW) forecasts that this trend is set to continue…
Lundin Petroleum has discovered oil at the Rolvsnes exploration well 16/1-25 S in PL338C, in the central North Sea sector of the Norwegian Continental Shelf (NCS), the company confirmed on 22 December. Lundin said the well encountered a 30m gross oil column in porous granitic basement…
Norwegian Energy Co. (Noreco) subsidiary Noreco Norway entered into a sale and purchase agreement (SPA) with Djerv Energi for the sale of its exploration license interests, organization and management systems. The owners of Djerv will be a US-based investment fund (70%) and Noreco (30%)…
North Energy acquired Explora Petroleum for a cash payment of US$2.5 million deal. The transaction is being implemented through the purchase of all the shares in Explora from the company's shareholders, who comprise certain employees and individual shareholders…
DOF Subsea inked US$30.8 million (NOK 270 million) in IMR and subsea installation contracts in the Asia Pacific and Atlantic regions that will use the company’s subsea project fleet. Skandi Hercules…
McDermott International has announced that a consortium of McDermott and L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Indian conglomerate Larsen & Toubro, was awarded a contract covering the engineering, procurement, construction…
Schlumberger and Statoil Gulf of Mexico signed an agreement to license a large part of the WesternGeco Campeche wide-azimuth (WAZ) deepwater multiclient seismic survey in the southern Gulf of Mexico. The license also includes collaboration with WesternGeco in the seismic processing phase…
A major study is underway to identify new processes and technologies that can be applied to asset integrity challenges in the UK offshore oil and gas industry. Lockheed Martin has been commissioned to conduct a technology landscaping…
UTEC NCS Survey, part of UTEC (an Acteon company), has announced the award of a multi-year rig move and positioning framework contract with Total. Total recently awarded the three-year contract with the opportunity to provide positioning…
Atlantis Resources and ScottishPower Renewables (SPR) are teaming up to develop a joint portfolio of projects for the growing tidal sector, announced Atlantis. Atlantis’s Scottish project development vehicle, Tidal Power Scotland Limited (TPSL)…
Shipping and offshore specialist law firm Wikborg Rein says current low oil prices could mean there are bargains to be had for investors in the offshore sector who follow recommended procedures for assessing and acquiring distressed companies…
Cameron stockholders voted to approve the merger agreement between the equipment manufacturer and Schlumberger today (December 18) at a special meeting. In late August, oilfield services giant Schlumberger announced it would acquire Cameron in a deal worth US$14…
Following the participation in front-end engineering and development (FEED) work over past several months, Sevan Marine has announced that it has signed two agreements related to the FPSO prospects in the UK North Sea. The first agreement…
Polarcus has received a letter of intent from Maersk Oil on behalf of the Danish Underground Consortium (DUC) for a 4D marine seismic survey offshore Denmark. The project is due to commence in Q2 2016 and will run for approximately three months…
The US is losing its opportunity to lay claim to Arctic exploration, falling behind countries such as Norway and Russia. Now with Shell and Statoil exiting Alaska’s offshore, many in the industry and in politics are wondering how to salvage Alaskan offshore exploration…
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