Gulf Marine Services, a UAE-based company owning a fleet of jack-up service vessels, said Thursday it had received letters from shareholders who collectively hold 52.24 percent of the company's issued share capital saying that they didn't plant to accept Seafox's takeover proposal…
Offshore services provider Oceaneering has been awarded an asset integrity contract from a major operator based in Dubai, UAE. Oceaneering said Wednesday that the 'considerable asset integrity contract' included the provision of general and…
Israeli energy conglomerate Delek Group said on Sunday it was in talks to sell royalty rights to two small natural gas fields and was amending its proposed share offering.Delek said it planned to sign a 300 million shekel ($85 million) deal…
Offshore engineering and construction company McDermott has said it has been given 'a sizeable' contract from a Middle East customer to carry out front-end engineering and design (FEED) work for offshore riser platform topsides.McDermott, which didn't say who the client was…
Dubai's Drydocks World shipyard has started construction of the offshore wind installation vessel for the Dutch company Boskalis.Drydocks World held a steel-cutting ceremony on Monday to mark the start of production on a conversion project for Boskalis B…
Saudi Arabia's sweltering summer may complicate the kingdom's pledge to deepen oil production cuts.Curbing crude output means lower production of associated gas, a byproduct of crude extraction, which Saudi Arabia uses to power air conditioners…
Petrofac Ltd on Friday warned of delays in new projects until 2021 due to coronavirus-induced supply chain disruptions and travel restrictions as well as lower oil prices and said it was taking steps to conserve cash.The crash in oil prices…
Engineering and project management firm Penspen has won an engineering services contract by Target Engineering Construction Co LLC for slug catcher replacement support on a project on Zirku Island in UAE.The Penspen contract is for work on the island’s Satah slug catcher replacement project…
Saudi Arabia will voluntarily deepen oil output cuts from June as low oil prices are causing huge pain to the kingdom's budget and global demand remains weak due to lockdowns to contain the coronavirus pandemic.The announcement by the kingdom…
China's Shanghai Waigaoqiao Shipbuilding has this month delivered the newbuild jack-up Energy Edge to its owner Northern Offshore.The delivery of the CJ-50 design jack-up drilling unit took place in Shanghai on May 2.According to previous reports…
Offshore drilling company Noble Corp has said that its jack-up rig Noble Scott Marks, located offshore Saudi Arabia, will be suspended at the request of its client.The rig is on a contract with Saudi Aramco, which, as Noble Corp. said in April…
Ampelmann, a Dutch company providing crew transfer gangways to the offshore energy industry, has said it has achieved a milestone of one million safe personnel transfers in the Middle East.The company said Wednesday that the milestone, which it took nearly a decade to achieve…
Offshore jack-up rig company Seafox has increased its ownership in rival and takeover target Gulf Marine Services to 16.39 percent by acquiring 9,38 million shares in GMS on the market at a price of 10 pence per share on Tuesday.The Dutch company also made a 'no increase' statement…
Oil and gas output from some of the world's top oil companies is set to drop by nearly 11% in the second quarter of 2020 to levels not seen in at least 17 years, according to Reuters calculations. The output cuts are driven by an unprecedented…
Oslo-listed seismic survey company Axxis Geo Solutions has said it has completed its ocean-bottom nodes (OBN) project in the Middle East. 'The project was completed with strict adherence to COVID-19 safety guidelines and the crew is now demobilizing…
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