A recently formed subsea services business has secured private equity investment in order to buy a fleet of 32 remotely operated vehicles. Aberdeen- and Houston-based M² Subsea was able to buy the fleet from the administrators of failed…
Noble Energy is expecting the final investment decision (FID) for its giant Leviathan development offshore Israel by year-end or early next year, the Houston-based explorer said in its Q3 2016 earnings call. The Noble Sam Croft…
Germany’s Wintershall weighed several concepts for its Maria field development, which sits in a mature area off Norway. Elaine Maslin reports on how the firm drew upon multiple neighbors to select the right solution. A…
Talk of an IT and OT convergence has been increasing, including in the oil and gas business. Elaine Maslin reports. 'The first thing people need to realize is there’s an ugly job to do and [they need to] roll up sleeves,” says Duncan Irving…
Norwegian oil services investment firm Akastor has agreed to sell Fjords Processing to National Oilwell Varco for US$145.7 million on a debt- and cash-free basis. Fjords is a leader in complete process support systems for gas, oil and water…
Singapore's Sembcorp Marine has agreed to buy the remaining 30% stake in Sembmarine North Sea that it doesn't already own. The firm owns UK fabrication yard Sembmarine SLP, once SLP Engineering, and will allow the yard to expand its footprint in the UK…
Well integrity and reliability software supplier ExproSoft has acquired Miriam, a supplier of RAM analysis software. Image of Odd Are Svensen (CEO, ExproSoft) and Christophe Spaggiari (CTO, Miriam)…
The Transocean Winner has been loaded onto the Hawk semisubmersible heavy lift ship, and is preparing for its journey to Turkey, according to the UK’s Maritime & Coastguard Agency (MCA). The Transocean Winner…
Mexico’s Petróleos Mexicanos (Pemex) is looking to turn its financial structure around in 2017 by placing, repurchasing, and exchanging bonds. Image from Pemex. Yesterday (3 October)…
Development costs to first oil for the Sea Lion project off the Falklands have been reduced to US$1.5 billion with more savings possible, according to partner Rockhopper exploration. The UK-based independent also says the 2C, or proved plus probable reserves…
The Bureau of Ocean Energy Management (BOEM) will offer approximately 47 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Central Planning Area (CPA)…
SBM Offshore has released a video of the Turritella floating production and storage offloading (FPSO) unit, as the vessel started commercial production at Shell’s Stones development in the deepwater Gulf of Mexico on 6 September. At Stones…
INEOS UK E&P Holdings has secured a five-year US$294,000 million (£220 million) reserve-based lending facility, which it plans to use to acquire future projects. The facility, the firm's first reserves based lending facility, was secured…
Brazil has been a global leader in deepwater technology. If it can put its troubles behind, it has a real opportunity to be the world leader, says io oil & gas’ Ed Hernandez. International Olympic…
FAR Ltd. has upgraded its contingent resources estimates for Cairn Energy’s SNE oilfield offshore Senegal in West Africa, and led the firm to suggest a standalone floating production and storage offloading (FPSO) development for the field…
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