Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers…
U.S. oil producer ConocoPhillips said on Tuesday it would sell a 16.5 percent stake in the Clair field to oil major BP for an undisclosed price. Houston, Texas-based ConocoPhillips will retain a 7.5 percent interest in the North Sea offshore oil field through a unit while BP will hold a 45…
Offshore rig firm Borr Drilling, controlled by Norwegian investor Tor Olav Troeim, is proposing to buy its rival Paragon Offshore for $232.5 million in a push to consolidate the fragmented rig market, it said on Thursday. A plunge in oil…
Taking a look back on the year that was 2017, our OEdigital.com website's most popular stories pretty much tell everything you need to know. While the industry is still adjusting to the downturn, the bright spots are few, but significant…
Wintershall and its partners have been given the green light to start production next month from the Maria field in the Norwegian Sea. Maria development. Source: Wintershall. The development…
Young diving firm Ultra Deep Solutions has seen the keel laid at Chinese yard CMHI on its latest dive support construction vessel (DSCV), the Ultra Deep Matisse. This vessel will be the largest ship in the firm's fleet, at 145m-long with a 27m beam…
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…
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…
Apache has brought its Callater North Sea subsea tieback on stream ahead of schedule. Discovered in 2015, Callater, a six-well slot bundle tieback to the Beryl Alpha facility. It was among three fields, including Seagull and Corona…
SBM Offshore revealed that it has inked a deal for its Fast4Ward standardization program, signing a contract in June for the first newbuild hull with China Shipbuilding Trading Co. (CSTC) and the Shanghai Waigaoqiao Shipbuilding (SWS) shipyard…
Shell is buying the deepest floating production unit in the world, the Turritella floating production storage and offloading (FPSO) unit in a US$1 billion cash deal that will allow the supermajor to assume operatorship of the entire Stones development in the deepwater Gulf of Mexico…
Aker BP has drilled a dry hole close to the Volund field in the Norwegian North Sea, according to the Norwegian Petroleum Directorate (NPD). Well 24/9-11 S was drilled using the Transocean Arctic semisubmersible drilling rig in 122m water depth…
Jerry Lee profiles the development of Brazil’s giant Lula field, offshore Rio de Janeiro. The FPSO Cidade de São Vicente was brought in to perform extended well tests on a Lula NE well in 2011…
Xvision Software has developed FieldAP, a 100% cloud-based technology for the energy industry providing offshore project managers with an online tool for visual field development, digital planning and cost containment. According to Xvision…
Even though the downturn has changed many operator’s initial plans, subsea tiebacks have emerged as the economical way to develop many Gulf of Mexico fields. Karen Boman reports. The North Ocean 105 lay vessel…
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