The floating production sector has been especially active over the past several months. Ten production floaters have been ordered since March, reports International Maritime Associates Inc. (IMA). Contracts include a $3 billion FPSO for Nigeria (a record price for an FPSO)…
TAM International Inc. established a new line of TAM FastSwell™ elastomers, adding to their extensive FREECAP® swellable packer product offering. TAM FastSwell™ provides a fast, controlled swell time at lower temperatures and high salinities…
Smith Bits, a Schlumberger company, released the ONYX 360° rolling polycrystalline diamond compact (PDC) cutter. This technology enables a PDC cutter to rotate 360° while drilling, improving drillbit durability in abrasive formations and extending drillbit life and footage drilled per run…
ESAB’s new Warrior cutting tool is a heavy-duty, multi-process welding machine with wire feeder. It was developed for reliability, minimal downtime, and maximum productivity. The machine will perform MIG/MAG (metal inert gas/metal active gas)…
Shell, and its partners, are expecting to boost production with two new deepwater projects at Parque das Conchas (BC-10) and the Bijupirá/Salema fields. 'Offshore Brazil is a key part of our plans to grow our deepwater portfolio – a key component of our global strategy…
Houston-based Apache Corp.will sell all of its Gulf of Mexico Shelf operations and properties to Fieldwood Energy LLC (Fieldwood), an affiliate of Riverstone Holdings, for US $3.75 billion. Operations include wells that are producing about 100…
Aberdeen-based Nautronix enhanced the functionality of the Nautronix NASDrill USBL acoustic positioning systems by incorporating a new transducer design. The company used its acoustic digital spread spectrum (ADS2) signaling technology to house the hydrophone within a ruggedized…
Germany’s Raytheon Anschütz launched a new generation, maintenance- free gyro compass. The Horizon MF is a strap-down compass system that uses hemispherical resonator gyros (HRG) to measure angular rates for heading calculation. The system…
With the latest seismic and drilling technologies, the Cardamom development is expected to deliver new production from the deep waters of the Gulf of Mexico to existing infrastructure. Nearly two decades after setting a world water-depth record for drilling and production…
Oklahoma-based Tulsa Power’s offshore loading stations are designed to eliminate hoses being laid on deck and dangling from saddles – avoiding trip hazards; reducing UV exposure, hose kinks and fatigue/breakage failures, and reducing the chance of spills…
WFS Technologies and Stork Technical Services unveiled their Seatooth Smart CP, a subsea wireless cathodic protection (CP) monitoring system designed for retrofit to existing fields. The system monitors the effects of corrosion by measuring…
Seadrill Ltd has entered into turnkey contracts to build four new ultra-deepwater drillships. Two drillships will be built at the DSME yard and the other two at the Samsung yard, in South Korea. The project value price is estimated to be…
ONGC Videsh Ltd. (OVL) and Oil India Ltd. (OIL) have agreed to purchase Videocon Mauritius Energy Ltd.’s 10% share in the Rovuma Area 1 Offshore Block in Mozambique (Area 1) for US $2.47 million. The acquisition will give OVL 60% stake and OIL 40% stake in Area 1…
GE Oil & Gas has completed its acquisition of artificial lift technologies and industrial gears firm Lufkin Industries in a deal valued at US$3.3billion. Lufkin, with approximately 4,500 employees in more than 40 countries, manufactures…
Marathon Oil has agreed to sell its 10% working interest in Block 31, off Angola to China Petrochemical Corp. (Sinopec) for US $1.5 billion.. The companies anticipate closing 4Q 2013, with an effective date of January 1, 2013. The transaction will bring Sinopec’s stake in Block 31 to 15%…
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