Oilfield service firm AGR has agreed a framework agreement with recently founded Norwegian oil development firm Okea. Okea was founded in Trondheim in 2015 with the aim of finding cost effective development and operation systems for currently…
Saudi Aramco made five new oil and gas field discoveries, including one offshore field, and continued its exploration in the Red Sea in 2015. The Kingdom now has a total 134 discovered oil and gas fields. One of the latest was the Faskar offshore field…
UK-based fractured basement explorer Hurricane Energy has suspended farm-outs talks on its west of Shetland Lancaster project after raising enough financing to do its latest appraisal work itself. The firm raised £52.1 million in May…
Mermaid Maritime’s subsidiaries, Seascape Surveys and PT Seascape Surveys Indonesia have been awarded six different subsea contracts in the Asian region with an estimated US$15 million. The various work scopes include subsea survey, inspection…
Last year was a challenging year for the floating production systems (FPS) market. The low oil price threatened the commerciality of numerous projects, delay announcements for FPS units under construction arrived regularly and overall only four orders were placed…
CORTEC, a leading manufacturer of high quality API compact ball valves and manifolds, has expanded its CORTEC Manifold Systems (CMS) Lafayette manufacturing facility and relocated to new premises in Port Allen, Louisiana. According to Stephen Corte…
The global offshore rig count for May 2016 has fallen 20%, when compared to May 2015, with Latin America seeing the biggest drop by 57%. Image from Saudi Aramco. According to Houston-based Baker Hughes…
Global Maritime Consultancy & Engineering has appointed Mikal Grure Eie as regional manager for Norway. Eie‘s brief will be to develop closer customer relationships and drive new business development opportunities throughout Norway. Eie has spent over 10 years in the offshore sector…
Singapore-based Swiber secured three new contracts worth a total of US$215 million for separate projects in the Middle East and Southeast Asia regions. Swiber was awarded an engineering, procurement, construction and installation (EPCI)…
Work has started on a UK offshore wind farm which will be the first to use 66kV cables and the first in the UK to use gravity based foundations. Onshore construction work has started on the project, EDF Energy Renewables' Blyth wind farm…
Shell’s deepwater production could double, to some 900,000 boe/d in 2020, compared with 450,000 boe/d in 2015, the super major said this morning. Setting out its capital spending plans up to 2020, which are to be capped at US$25-30 billion a year…
French group ENGIE's Norwegian business has hailed an increase in gas production on its Gjøa field by 17.5% and an increase in the ultimatly recoverable reserves by 60 MMboe. 'Gjøa was originally designed to export 17 MMscm/d. That we are currently producing 20 MMscm/d…
Independent Oil and Gas is finally set to drill its delayed appraisal well on the Skipper discovery in the Northern North Sea next month using Transocean's Sedco 704 semisubmersible drilling rig. The vertical well will be drilled to…
Aker Solutions says it is on track to boost cost efficiency in all areas of the company by a 30% goal - or NOK9 billion (US$1.11 billion) annually - in a bid to meet current market conditions. A quarter of the targeted improvement is expected to be achieved this year…
Bermuda registered rig operator North Atlantic Drilling has extended a standstill deal agreement with Jurong shipyard over the delivery of the newbuild West Rigel semisubmersible drilling rig. The standstill agreement, set up amid a…
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