Royal Dutch Shell is selling a major portion of its stake in Australia's Woodside Petroleum Ltd., raising AU$5.7billion. Shell is selling 9.5% back to Woodside, and another 9.5% to institutional investors, at a small discount to the closing share price on 16 June 2014…
Industrial facilities turn to safer, more effective inorganic coatings to reduce risk of severe injury and death of coating contractors. For decades, industrial facilities have measured the effectiveness of a coating by its ability to prevent corrosion…
Ophir Energy announced that partner and operator BG Group made a new gas discovery in Block 1, located in the Mafia Deep basin off Tanzania. The Taachui-1 well’s net pay amounted to 155m, with estimates for the mean recoverable resource placed at 1Tcf…
UK-based explorer Trapoil has agreed a deal with private equity firm Prostar Capital, which could see Trapoil help Prostar sweep up undervalued North Sea assets. According to Trapoil, Prostar’s management believes that there is considerable value in the North Sea…
Hungary’s MOL Group is eyeing North Sea operatorship and has deep enough pockets to do it. Elaine Maslin spoke to exploration director Alex Dodds (pictured). Hungary’s MOL Group is aiming to double its production within at least five years and then double it again after that…
Calgary-based Sterling Resources issued its 1Q results today, reporting US$20.5million revenue attributable to production from the Breagh gas field in the UK North Sea, and expenses of $2.6 million during the quarter. The average expected…
The Intervention & Coiled Tubing Association’s European Chapter (ICoTA) will examine the role of wireless communication technology and its benefits in well intervention at its next lunch and learn session on 20 May. The presentation,…
A third well is now producing in the Sapinhoá field, Petrobras announced, in keeping with the target date given when its preceding well was brought onstream in February. Well 7-SPH-04-SPS, which lays in 2120m of water on Block BM-S-9 of the Santos basin presalt region…
MAN compressor installed offshore MAN Diesel & Turbo in Zurich was awarded a contract to deliver a HOFIM (high-speed, oil-free, integrated motor) compressor to Det norske oljeselskap ASA. It is MAN’s first hermetically-sealed compressor to be installed on an offshore production platform…
Norwegian oil services technology firm Cubility AS has been bought from private equity firm Energy Ventures by a Triton Partners fund. The firm, based in Sandnes, has developed MudCube, a solids control and waste management system for drilling operations…
Middle East rig builder Lamprell has moved into the black, posting a profit. But, the firm warned that recent new order intake means 2014 and 2015 revenues could be lower than expected. The Dubai-based firm, which initiated a strategic review and appointed a new CEO and CFO last year…
Austrian integrated energy firm OMV has boosted its UK west of Shetland holdings after agreeing to buy four licenses in the area from Hess, including the Cambo field and the Blackrock prospect, for US$50 million. Depending on future developments…
Some 5Tcf of natural gas reserves are sitting undeveloped in the Southern North Sea, an event on the basin heard today (5 March). John Westwood, of industry analysts Douglas Westwood, was speaking at the Southern North Sea 2014 conference in Norwich…
Royal Boskalis Westminster N.V. (Boskalis) is to buy Fairmount Marine B.V. and Fairmount Ocean Towage Company B.V. (Fairmount) from the French group Louis Dreyfus Armateurs. Fairmount is a global provider of long-distance ocean towage services operating five…
Denmark’s Maersk Drilling has posted a 52% jump in profits for 2013, at US$528 million, but warned that there will be challenges in 2014 as it sees a drop in deepwater demand and a major overhaul of its fleet. Claus V. Hemmingsen…
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