Van Oord took delivery of Damen’s offshore carrier (DOC) 8500 cable laying vessel, the Nexus. The Nexus. From Damen. The Nexus is a 126-m vessel that will be used for the installation…
As oil prices move ever lower, Wood Mackenzie assessed at what price the operating cash flow from producing oil fields turns negative. Negative operating cash flow can be an immediate brake on production. While Wood Mackenzie does not think this floor will necessarily be triggered…
Singapore-based COSCO (Nantong) Shipyard Co. is to scrap the Octabuoy project after failling to find a buyer for the unit. COSCO (Nantong) Shipyard was contracted to build the Octabuoy unit for ATP Oil & Gas' Cheviot field in the UK North Sea…
Magma Global and Maritime Developments (MDL) entered into a partnership to develop a well intervention solution for the offshore oil and gas market. Image from MDL. This partnership…
In 2013, Brazil produced 2MMb/d of crude oil and nearly 1Tcf of gross natural gas. Within these figures, the share of production from presalt resources found under thick layers of salt thousands of feet below the ocean's surface remains small but continues to increase…
Mexican national oil company, Petróleos Mexicanos (Pemex) took delivery of its first of two KFELS B Class jackup rigs from Singapore’s Keppel FELS. The Yunuen jackup. From Keppel. The…
The fall in oil prices to their lowest in five years could mean current proposals for new North Sea tax allowances do not go far enough, oil and gas industry body Oil & Gas UK has said. The comments followed a new report from the Scottish…
Predicting oil price movements is as risky as exploring for oil itself. The average price for crude fell 10.3% from the start of 2014 to the date of the Scottish independence referendum on September 18. It fluctuated over this period – but few…
Middle East and North Africa focused oil and gas exploration and production firm Circle Oil is the latest to announce it has received a debt repayment from the Egyptian government. The company received US$15 million, as part of the recent…
Controls, instrumentation, monitoring and handling systems firm EFC Group has been awarded contracts with major oil and gas drilling contractor companies to the value of £3.65 million. The company has already completed two BOP control system contracts with Ensco worth more £1…
Offshore aluminium support system provider Alphastrut has been awarded a six figure contract with Det norske to provide raised access flooring on the Ivar Aasen Northern North Sea development. The Alphastrut system will cover a total…
McDermott International has completed the installation of a 3086-ton central processing platform (CPP) topside using the tight-slot floatover method in the Kepodang gas field, Muriah Working Area, offshore Indonesia for Petronas subsidiary PC Muriah…
Statoil is hoping to extend the life of the Norwegian Sea Norne field to 2030 - more than 15 years after it was originally scheduled to be shut down. The Norway-based operator says the field life will be extended by tying in new discoveries in the area…
Houston-based deepwater focused oilfield services firm Deep Down, Inc. has won a large order for flying leads and ancillary equipment directly from one of the supermajor operators. The flying leads will be delivered and deployed in the Gulf of Mexico by Q1 of 2016…
EMAS AMC's subsea division EMAS has secured a subsea construction contract for its newbuild flagship vessel with Apache Energy in Australia valued worth more than AUZ$130 million (approximately US$105 million). The work scope includes project management…
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