Offshore Engineer Industry News News

 

PetroRio Wants Petrobras' Frade Stake

Feb 04, 2019

Brazilian independent oil firm PetroRio SA, which already owns 70 percent of the Frade oil field, has approached Petrobras about buying its 30 percent stake in the field, a person familiar with the matter said.PetroRio recently signed a deal…

OPT and Saab Seaeye Partner

Feb 01, 2019

Ocean energy solutions provider Ocean Power Technologies, Inc. electric underwater robotic systems manufacturer Saab Seaeye Ltd, have entered a nonexclusive agreement to jointly develop and market solutions for autonomous underwater vehicle…

Sapura Energy, OMV Partner for E&P

Feb 01, 2019

Malaysia’s largest oil and gas services company Sapura Energy Berhad and Austria’s OMV Aktiengesellschaft have agreed to form a new strategic partnership that will see the creation of a new joint venture independent oil and gas company.OMV Exploration & Production GmbH…

ExxonMobil Profit Tops Estimates

Feb 01, 2019

Exxon Mobil Corp on Friday reported a quarterly profit that topped analysts' estimates, pushing it shares up nearly 3 percent in premarket trading as its oil and natural gas output rose slightly on a year-over-year basis.The company's fourth-quarter net income fell to $6 billion…

BP to Expand Emissions Disclosure

Feb 01, 2019

BP has agreed to broaden its disclosure on greenhouse gas emissions to show how it thinks future investments in oil and gas align with U.N.-backed climate goals, it said on Friday.Following talks with a large group of investors, BP also agreed…

Innovations in O&G Asset Integrity

Feb 01, 2019

While the term ‘innovation’ may have some running for the hills, a group of nondestructive testing (NDT) and asset management experts who will be speaking and exhibiting at the 2019 Australasian Oil & Gas Conference & Exhibition (AOG) are reaping…

Exxon Reorganizing Exploration Units

Jan 31, 2019

Exxon Mobil Corp on Thursday outlined a major reorganization of its global exploration businesses aimed at reversing years of weak oil and gas output.Chief Executive Darren Woods, who took over the helm two years ago, has spent billions to buy production…

ConocoPhillips Beats Profit Estimates

Jan 31, 2019

ConocoPhillips beat quarterly profit estimates on Thursday as the world's largest independent oil producer sold more oil at higher prices, sending its shares up 2 percent before the opening bell.Total production, excluding Libya, rose 94,000 barrels of oil equivalent per day (boe/d) to 1…

Baker Hughes Adjusted Profit Surges 85%

Jan 31, 2019

Baker Hughes, General Electric Co's oilfield services arm, posted an 85 percent jump in adjusted quarterly profit on Thursday, boosted by surging demand for its services.Unlike rivals Schlumberger NV and Halliburton Co, Baker Hughes has less exposure to the North American pressure pumping sector…

PetroRio Buys Chevron’s Frade Stake

Jan 30, 2019

Brazilian independent PetroRio announced Wednesday that it has acquired Chevron’s stake in the deepwater Frade field in the Campos Basin offshore Brazil for an undisclosed sum.The share purchase agreement sees the U.S. supermajor sell its 51…

Ophir Agrees to Be Bought by Medco for $511 Mln

Jan 30, 2019

Ophir Energy Plc said on Wednesday it has agreed to be bought out by Indonesian oil and gas group Medco for a sweetened bid of 390.6 million pounds ($511.02 million) in cash.The offer of 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing price on Dec…

Global Marine Group Buys Stake in Rovco

Jan 29, 2019

Subsea technology company Rovco said it has formed an invested partnership with offshore engineering firm Global Marine Group (GMG) to bring intelligent inspection, repair and maintenance (IRM) solutions to the global offshore market.GMG, made up of three business units - Global Offshore…

Unique Group Partners with POSH Subsea

Jan 24, 2019

UAE-based subsea and offshore solution provider Unique Group announced Thursday it it has entered into a contract with Singapore-based offshore and marine oil field services company POSH Subsea to offer integrated diving solutions.As part of the agreement…

Proserv Relocates Within Aberdeen

Jan 24, 2019

Controls technology company Proserv said it has moved a major portion of its Field Technology Services business unit from its previous location at Birchmoss, near Echt, to a Westhill based facility, much closer to its head office.The decision…

Shipbuilding: Keppel Sees Rig Recovery, Profits Up

Jan 24, 2019

Singaporean conglomerate Keppel Corp posted improved results for the fourth quarter, helped by narrower losses in its offshore and marine division, and said it was seeing signs of recovery in the rig industry.The company on Thursday reported a net profit of S$135 million ($99…

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