Shell has agreed to sell a 23% stake in the Parque das Conchas (BC-10) project, offshore Brazil, to Qatar Petroleum International, for about US$1 billion. Shell will continue to operate BC-10, with a 50% working interest, and retains a significant upstream presence in Brazil…
Chinese oil firm CNOOC says it is planning to invest RMB 105 billion (US$17.35 billion) to 120 billion ($19.82 billion) on projects during 2014. Nexen Inc, bought by CNOOC in early 2013, will account for about 19% of the spending. Overall…
Statoil ended a joint license agreement with Bahamas Petroleum. Bahamas Petroleum says Statoil is dropping its involvement in the agreement following its exploration successes elsewhere and a subsequent review of its global portfolio…
UK-based engineering and project management firm AMEC has said it has made a provisional offer to buy Switzerland-headquartered Foster Wheeler AG for US$3.2 billion.Foster Wheeler is an international engineering, construction and project management contractor…
Petrobras' partners in the BC-10 development, also known as Parque das Conchas, have finalized a buyout worth approximately US$1.6 billion for the Brazilian national's 35% interest in the project. Shell will pay $1 billion for its additional 23% interest…
60th Annual Census: North American rig fleet gains while activity level drops. In the U.S. and Canada, additions to fleets increased availability, while activity decreased. The global offshore mobile fleet posted another modest gain, with 42 newbuilds entering service in the last year…
Natural gas from future multi-train LNG developments in Tanzania could now be destined for Asian markets. Singapore-based investor Pavilion Energy is to take a 20% in the joint venture partnership looking to develop natural gas finds in Blocks 1…
The European branch of the Intervention & Coiled Tubing Association (ICoTA Europe) has announced the finalists of its Innovation Awards ahead of its annual SPE ICoTA Well Intervention Conference. The award is presented annually to an organization that…
Abu Dhabi-based subsea engineering and diving services firm DCN Global has been bought by Fugro Subsea Middle East. The company, which will be renamed Fugro Subsea Services (Middle East), has primarily operated in the Middle East, Caspian…
Life-saving equipment firm Viking has bought a major stake in IT startup Saatsea. The firm, which will be renamed Viking Saatsea, provides cloud-based onboard training and competence management systems to industry. It was set up…
Kazakhstan's Kashagan oilfield has resumed production after its latest delay, a shutdown on September 25 following the detection of a gas leak. Discovered in 2000, it has taken 13 years and approximately $50 billion before production started on September 11…
Petroleo Brasileiro (Petrobras) completed its semisubmersible P-55 floating production, storage and offloading (FPSO) vessel nearly six years after it was contracted. It passed testing and certification in the Rio Grande dock (ERG-1). The…
Colloquy: Editor's Column Many stakeholder programs benefit from oil industry funding and local community approval gives oil companies a social license to operate. Just before the Offshore Europe conference in Aberdeen, I discovered the…
Norsafe ASA has set a new world record for freefall lifeboats, dropping its own GES52 model from a height of 66.8m (220ft). The GES52 freefall lifeboat is 52ft long and has a capacity for at least 70 persons of 100kg. Norsafe says the boat will be certified for heights up to 51m…
Statoil ASA is extending its production stoppage in the Njord oilfield, located in the Norwegian Sea, to reinforce a drilling platform. Production was originally halted on July 27 due to some small deformations found in some beams and other structural elements in the deck framing…
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