Italy's Fincantieri has offered to buy out all the shares in shipbuilder Vard. Shipbuilding group Fincantieri, which is listed in Italy and is currently the majority shareholder in Vard, with 55.63% of shares, is offering S$0.24 a share in cash for Vard…
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…
Statoil has made an oil and gas discovery at the Njord North Flank in the Norwegian Sea that could potentially hold up to 28.3 MMboe, according to partner Faroe Petroleum. The Songa Delta, from Songa Offshore…
Australian energy giant Woodside will acquire half of BHP Billiton’s Scarborough gas assets in the Carnarvon Basin, offshore Western Australia. Woodside will pay US$250 million on completion of the transaction and a contingent payment…
Transocean's Transocean Winner semisubmersible drilling rig, which ran aground on a Scottish Island more than two weeks ago, is now under tow to safer waters. The rig was refloated from Dalmore Bay, on west coast of the Isle of Lewis…
Noble Energy has been named the successor operator of the Thunder Hawk production facility, according to the company’s Q2 2016 report. Scant on details, Noble did confirm that the deal is expected to become effective within Q3 2016, subject to regulatory approval…
Cost reduction measures continue at Fugro, as the company plans to further reduce its workforce and fleet in the remainder of 2016. Image from Fugro. During 1H 2016, Fugro cut its headcount by 585…
Teekay Offshore is to take a hit of US$43.7 million after cancelling construction contracts for two flotels, described by Teekay as units for maintenance and safety (UMS). The firm also says it suffered a drop in income due to its Arendal…
Tullow Oil's TEN floating production project offshore Ghana is on schedule for first oil within the next three to six weeks, the firm announced this morning. Tullow says the project, which is also within budget, is over 96% complete…
Searcher Seismic, with project partner BGP, has completed the acquisition of two new multi-client seismic surveys offshore Norway and offshore Western Australia. Map of Silver-Eye 3D, Bilby 2D…
Riyaz Ali from Emerson Process Management describes the problems and possible solutions for testing the final control element of Safety Instrumented Function loops. Accidents in process industries have created concern as to whether functional safety protects personnel…
Bermuda listed Seadrill, and Norwegian drillers Odfjell and Sevan Drilling reported their Q1 results this morning. Intense focus on cost cutting and efficiency have helped all three, as it had with the likes of Ensco and Transocean,…
Oil major BP has bought a 16% stake in the high-pressure, high-temperature (HPHT) Culzean development project in the North Sea, doubling its stake to 32%. BP has acquired the stake from JX Nippon. Maersk Oil North Sea operates the US$4…
Shell announced on 15 May that production from the Brutus field in the US Gulf of Mexico has resumed following a leak at the nearby Glider field on May 12, which shut-in all production to the associated tension leg platform. While production…
UK-based procurement services firm Craig International has launched, at OTC, a new platform to help oil and gas companies offload surplus stock and buy other products and equipment they need at competitive prices. Craig Collaboration…
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