China's Zhuzhou China South Rail Times Electric completed a £130 million acquisition of the UK-based ROV and trenching equipment manufacturer Specialist Machine Developments (SMD), also known as Soil Machine Dynamics. Zhuzhou specializes…
An oil price below US$70/bbl will not be sustainable long term, according to Norwegian energy analysts Rystad Energy. Speaking at the firm’s offices in Oslo, senior analyst Audun Martinsen outlined how the firm sees current global liquids…
Houston-based BPZ Energy, that is currently under chapter 11 protection, is suspending its Corvina CX15-9D well offshore Peru after failing to produce oil. Map from BPZ. The well…
Global investment in renewable energy reached record levels in 2014, including the record-breaking US$3.8 billion financing of the largest ever renewable energy plant, a Dutch wind farm project, a new report has shown. Image from Siemens…
Several floating wind turbines have been installed in recent years, with operational turbines in Norway, Japan and Portugal. Floating turbines have several benefits over their conventional counter-parts – firstly, they are more economically efficient…
BG Group has awarded Aptomar a contract to provide field monitoring services at the operator’s Knarr field on the Norwegian continental shelf. As a result, Aptomar will establish a new marine control center in Trondheim, Norway. Under the five-year contract…
Brazil has big plans as it sets its sight on increasing oil exports – but it will need investment in technology as it moves into ever deeper waters. Elaine Maslin reports from Subsea Expo. Various vessels await deployment in Guanabara Bay near Niterói…
Despite the recent memorandum of understanding (MOU) between Rosneft and Golar LNG, the former’s current gas strategy is narrowly focused on developing domestic reserves and initiating liquefied natural gas (LNG) projects in Russia, according…
The oil and gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed. However in an effort to drive value…
The first signs of a recovery in the oil price have been seen and opportunities are opening up in the Mediterranean for Europe to significantly reduce its reliance on energy imports, delegates at the 12th Offshore Mediterranean Conference (OMC 2015) heard this morning…
LR Senergy and EnergyOne formed a strategic alliance to support business development in Norway and internationally. LR Senergy’s Norway business, Senergy, has been acquired through a management buy-out and will now trade under the company name of EnergyOne AS…
Newcaslte, England-based valve manufacturer BEL Valves is looking to set up a new £10 million subsea engineering facility for Newcastle’s Quayside. Plans for the 20,000sq ft Neptune Test Centre on the now derelict Spillers Tyne Mill site…
Cairn Energy is planning an up to six-well exploration campaign offshore Senegal, starting this year, after making potentially the largest global oil discovery in the country's waters last year. Image from Cairn…
An American data analytics and risk assessment firm based in Jersey City has bought Edinburgh, UK-based energy and mining industry analyst Wood Mackenzie. Verisk Analytics has agreed to buy the firm for US$2.8 billion from owners Hellman & Friedman and other Wood Mackenzie shareholders…
CNOOC Ltd. announced that its Qinhuangdao 32-6 comprehensive adjustment project has commenced production. The Qinhuangdao 32-6 oilfield is located at the central north of Bohai Bay with an average water depth of approximately 20m. The…
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