Aker Solutions completed the sale of its well-intervention services business area to EQT, a Swedish private equity fund.The unit was sold for an enterprise value of NOK 4 billion and the agreement includes an earn-out provision where Aker…
UK-based engineering and project management firm AMEC has said it has made a provisional offer to buy Switzerland-headquartered Foster Wheeler AG for US$3.2 billion.Foster Wheeler is an international engineering, construction and project management contractor…
Baker Hughes kicked off its first STEM event for high-school students in the Houston area this past summer, inviting 22 students to visit its drill bit manufacturing facility in The Woodlands, Texas. The success of the program, and positive feedback throughout the industry…
The Statoil-operated Peregrino field, one of Brazil’s most significant offshore producers, is a wealth of resources, including Norwegian- developed technology. Sarah Parker Musarra chatted with Statoil Brazil Country President Thore E. Kristiansen…
Royal Dutch Shell plc announced the successful completion of the acquisition of Repsol S.A.'s liquefied natural gas (LNG) portfolio outside North America for a headline cash consideration of US$4.1 billion. As part of the transaction…
At a meeting of the HRT's Board of Directors held on Dec. 20, 2013, resolutions were passed on the following motions by the majority of the members in attendance: To acknowledge that the election of Messrs. Edmundo Falcão and Marcello Pacheco is null and void…
Two workers were injured and production was slashed when a fire broke out aboard one of Petrobras’ Marlim field platforms, the production semisubmersible P-20. Marlim is located in Brazil’s Campos basin, about 110km offshore the state of Rio de Janeiro…
Fugro has reached agreement with The State Oil Company of the Azerbaijan Republic (SOCAR) to form a new Joint Venture for the performance of bathymetric, geophysical and geotechnical surveys, the provision of autonomous underwater vehicles (AUVs) and remotely operated vehicles (ROVs)…
Oil spills around Trinidad began to be reported on 17 Dec, suggesting more than one source of contamination. The state oil company of Trinidad & Tobago, Petrotrin, suggested sabotage and environmental terrorism. The Oilfield Workers Trade…
Deepwater drilling rig contractors are facing an uncertain future, with an increasingly fragmented market favoring those who contract the vessels, according to an analyst. The comments follow market updates from rig operators including Transocean Ltd…
Hans-Joachim Polk took over as managing director for Hamburg-based RWE Dea AG’s UK subsidiary in August. Polk, a 22-year veteran of the German exploration company, began his career in 1991 as a production operations engineer. He eventually…
Oilfield services company Archer is to cut staff and close some bases as part of a restructuring plan. The firm, which provides drilling and well services, said to accelerate margin improvements and adapt to the “highly competitive North American land market”…
Fugro announced that it has wholly-acquired Advanced Geomechanics Pty Ltd. (AG) to become part of its global geoconsultancy practice. The nearly 20-year-old, Perth-based AG provides geotechnical and geophysical engineering and consulting services…
More offshore wind projects could be scrapped in the UK, an official has warned, after it was announced that technical challenges had brought a halt to a 1200 MW project in the UK’s Bristol Channel. RWE Innogy said its planned Atlantic…
Colloquy: Editor’s Column A lot of time and money can be wasted waiting on weather. Down time is expensive. Wave height and period determine vessel motion and when they exceed operating limits, work slows or stops. Working in rough weather can lead to injuries and damage equipment…