While the trend in spending for oil and gas companies since the crash in oil prices has been a steep decline, production has remained relatively stable since 2015. This might lead to the conclusion that companies have found ways to remain just as productive in the new price environment…
Seanamic Group has bought Aberdeen based flexible pipelines and umbilicals integrity management firm Flexlife. Seanamic was founded in 2014, and has since added Caley Ocean Systems, Umbilicals International, and most recently IMES Group…
Subsea 7 will become the sole owner of the Normand Oceanic, a flex-lay and heavy construction vessel that is being managed by Solstad Farstad while under long-term contract to a third party. The company will take ownership of the vessel…
US oil major Chevron has decided to discontinue its exploration program in the Great Australian Bight, according to the country's industry body. BP dropped its plans for drilling two deepwater wells in the area after a tussle with…
Borr Drilling has signed an agreement to acquire nine jackup rigs from Sembcorp Marine subsidiary PPL Shipyard, taking its fleet to 26 jackups, once all rigs under construction have been delivered. The acquired rigs have been built or are under construction at PPL's yard in Singapore…
ONGC has officially entered offshore Namibia, following the completion of its 30% stake deal of Namibia Petroleum Exploration License 0037 from Tullow. ONGC subsidiary ONGC Videsh completed the acquisition of 30% participating interest…
Subsea 7 has signed a contract with Royal IHC to design and build a new, high-specification reel lay vessel capable of installing complex rigid flowlines including pipe-in-pipe systems. IHC says that, based on the ratio between top pipe tension and payload to displacement…
Deepwater Gulf of Mexico focused LLOG Exploration has set out plans for developing six projects, following successful exploration work in 2016-17, with nine deepwater wells due to be brought online by the end of 2018. One well is already producing…
Advisory firm Glass Lewis has recommended that Ensco plc shareholders vote “FOR” the US$839 million proposed all-stock transaction with Atwood Oceanics at the company’s upcoming general meeting of shareholders on 5 October 2017. “…we…
Northeast Scotland's Balmoral Group has agreed to take a 'substantial stake' in mooring and lifting firm ACE Winches for a US$13.56 million (£10 million) investment. The two firms are to work together to 'maximize global opportunities in the offshore…
ROV services firm M² Subsea has unveiled its recently commissioned purpose-built test tank at the company’s base in Westhill, Aberdeenshire, UK. The indoor fresh water tank, which can hold 73,600 liters of water, has been created for testing ROVs and ancillary equipment…
Power has been restored to BP’s Thunder Horse production platform in the US Gulf of Mexico. Thunder Horse. Image from BP. The company has started redeploying offshore personnel to Thunder Horse…
CEFC China Energy is set to buy a 14.16% stake of state-owned Russian oil firm Rosneft in a US$9.1 billion deal with the consortium of Glencore and the Qatar Investment Authority (QIA). Image from Rosneft…
Global deepwater oil and gas development has been plagued for a decade by cost creep in equipment and services. Some of the inflation was warranted as we moved into deeper, harsher and frontier areas, requiring higher equipment specs, more specialized assets and a higher level of risk mitigation…
The one biggest challenge facing the industry – apart from trying to make it profitable – is attracting new young talent, says the former CEO of North Sea independent Premier Oil. Nigel Wilson, who left Premier Oil in 2015, and is now…
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