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…
Statoil will pay COSL Offshore Management (COM) a one-time settlement of US$65 million under an agreement reached today that ends disputes related to the stand-by fees of two semisubmersible platforms. The stand-by fees stemmed from the installation of third-party equipment…
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…
OAO Yamal LNG closed on a contract to supply China National Petroleum Corporation (CNPC) 3mtpa LNG annually for 20 years from the Yamal LNG project in the Russian Arctic, according to Yamal LNG majority shareholder OAO Novatek. CNPC bought…
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,…
Offshore grouting contractor FoundOcean has secured two contracts on the Solan oil field development west of the Shetland in the North Sea. The contracts, with Heerema Marine Contractors and Bibby Offshore,& cover structural grouting on the 8000-tonne Solan platform jacket and its 300…
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…
More than 500 industry professionals came together at the sparkling 28th Offshore Achievement Awards ceremony in Aberdeen, last night. The Society of Petroleum Engineers (SPE) Aberdeen Section organized and hosted the awards, “the industry Oscars”…
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…
CB&I announced it has been awarded a contract by Bechtel valued at about US$625 million to provide structural, mechanical and piping construction work for all outside battery limits modules and associated units for the Chevron-operated Wheatstone Project at Ashburton North in Western Australia…
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…
The third phase of the Na Kika field in the Gulf of Mexico recently entered production, BP announced. Phase 3 production started on 19 Feb 2014, with a second well expected to come online 2Q 2014. Sitting in around 6300ft of water…
Energy production technology services company Proserv has bought KRG Industries Ltd from majority shareholder Torishima Pump Mfg. Co. Ltd, (Torishima) in Japan. KRG provides precision engineering services to the oil and gas and aerospace and defense industries…
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