While the specific terms of Mexico’s new contractual frameworks for its oil and gas industry are yet to be announced, the regime appears an attractive one and should be conducive to active bidding, according to an analyst with research and consulting firm GlobalData…
Energy services company Proserv has signed an agreement to be acquired by major US private equity investor Riverstone Holdings LLC. Riverstone Global Energy and Power Fund V, LP, in partnership with Proserv management, will acquire 100% of Proserv shares from Intervale Capital…
ConocoPhillips kicked-off the drilling campaign on its Eldfisk II project with Maersk Innovator. Five wells have been pre-drilled, and the drilling operations of the remaining 35 wells has now begun. Eldfisk II is one of four fields that comprise the Greater Ekofisk Area…
US-based Endeavour International is seeking bankruptcy protection after agreeing a restructuring agreement with some creditors. The company’s debt totals about US$1.2 billion, according to Chapter 11 papers filed in US Bankruptcy Court in Wilmington…
BP is due to restart production at the high-pressure, high-temperature (HPHT) Rhum gas field in the UK North Sea, four years after the field was shut in due to Western sanctions against its 50% owner, Iran. A BP spokesperson said today that production was due to restart soon…
Petrobras has begun production from FPSO Cidade de Mangaratiba, located in Block BM-S-11 of the giant Lula field. The start-up represents the first in the Iracema Sul area of the presalt Santos basin, located 300km off the coasts of the Rio de Janeiro and São Paulo states…
Uncertainty, high costs and low exploration rates are continuing to hamper the North Sea, according to a report published today (10 October). Business advisory firm Deloitte’s Petroleum Services Group’s report says that exploration rates remain low…
UK exploration independent Enegi says the Phoenix discovery in the central North Sea is a viable candidate for its marginal field initiative. Phoenix, in Block 22/12b, was operated by Apache. In 2010, Apache, drilled the 22/12a-12 appraisal well…
New York-based NEAH Global Energy Solutions (GES) USA Inc. announced its intention to acquire English maritime security specialist Graspan Frankton Maritime Ltd. Graspan Frankton is based in Newcastle upon Tyne and offers maritime security courses and services…
The UK offshore-focused subsidiary of Hungarian integrated energy company MOL has announced the completion of its senior management team, based in the Aberdeen. The creation of MOL Energy UK was announced in March this year. Since then…
The innovative KO-LINK towing ring, developed by international maritime service provider KOTUG International BV, is now available exclusively from maritime ropes supplier, Lankhorst Ropes, under a worldwide marketing agreement. The KO-LINK…
German company RWE Dea has been awarded two offshore blocks in the Gulf of Suez in Egypt’s international bid round. The new RWE Dea licences in the Gulf of Suez Map from Dea RWE will become…
Stein Rasmussen, SBM Offshore’s new managing director of the Houston execution center, says he had a natural affinity with water since he was a child growing up in Norway. It’s fitting since he has spent his entire career working with floaters at companies such as Technip…
Norway's oil industry has been warned by Anne Myhrvold, director-general of the country's Petroleum Safety Authority (PSA), against making cost cuts and savings at the expense of safety. “I’m convinced it’s possible to look after safety in a good way while also cutting costs…
Statoil has put its money where its mouth is and awarded engineering firm Kvaerner a concept study related to a standardized, unmanned dry tree wellhead platform for the Oseberg Future Development project. Having an unmanned dry tree…
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