Aker Solutions completed the acquisition of 70% of Brazilian CSE Mecânica e Instrumentação Ltda. The agreement includes an option for Aker Solutions to purchase the remaining 30% of the company three years from now. The acquisition…
2016 has been a year of challenges for the oil and gas industry. Audrey Leon surveys some of the year’s notable starts. Shell’s Stones project came online in September 2016, using the Gulf of Mexico’s second ever FPSO…
For the offshore oilfield equipment and services industries, 2016 was a difficult year. Douglas Westwood’s Joel Hancock looks forward to see if there is a light at the end of the tunnel. The Maersk…
Atlantic Petroleum issued notices to Iona Energy Co. (UK), which is in administration, to remove Iona as the operator of the Orlando and Kells licenses, offshore the UK. Atlantic has requested special meetings of the joint operating committees of UK Licenses P…
BP has agreed to buy a 10% interest in the Shorouk concession offshore Egypt, containing the super-giant Zohr gas field, for US$375 million. As part of the deal with Eni, BP will also reimburse Eni for BP’s share of past expenditure…
GE and Maersk Drilling have entered into a partnership to collaborate on a data analytic-driven pilot project with the aim to increase Maersk’s drilling vessels’ productivity and significantly reduce maintenance costs by up to 20%. The…
Italy's Fincantieri has offered to buy out all the shares in shipbuilder Vard. Shipbuilding group Fincantieri, which is listed in Italy and is currently the majority shareholder in Vard, with 55.63% of shares, is offering S$0.24 a share in cash for Vard…
Singapore-based Sembcorp Marine entered into an agreement to sell its 30% stake in Cosco Shipyard Group (CSG) in a US$156 million (S$220.68 million) deal with China Ocean Shipping Group Co. (COSCO), eliminating the majority of Sembcorp’s interest in CSG…
A total of 32 crude and natural gas projects are expected to commence operations in the North Sea region by 2025, with the UK claiming the highest number at 22, followed by Norway and Denmark with nine and one respectively, according to research and consulting firm GlobalData…
Total investment in oil and natural gas extraction in Norway was 21% lower in 1H 2016 compared with 1H 2015, a decline of about US$3.5 billion (NOK 20.9 billion). However, investment cuts have affected some segments of the industry more than others…
In this video, Chevron shows the process it took for its Alder HPHT field to reach first gas, 41 years after in was discovered. Chevron’s high-pressure, high-temperature (HPHT) gas condensate Alder field in the Central North Sea started production this week…
Noble Energy is expecting the final investment decision (FID) for its giant Leviathan development offshore Israel by year-end or early next year, the Houston-based explorer said in its Q3 2016 earnings call. The Noble Sam Croft…
Last year was a breakthrough year for subsea compression. Elaine Maslin surveys the projects that came online and discovers what became of Ormen Lange. Subsea compression at Ormen Lange. How it could have looked…
A recently formed subsea services business has secured private equity investment in order to buy a fleet of 32 remotely operated vehicles. Aberdeen- and Houston-based M² Subsea was able to buy the fleet from the administrators of failed…
Singapore's Sembcorp Marine has agreed to buy the remaining 30% stake in Sembmarine North Sea that it doesn't already own. The firm owns UK fabrication yard Sembmarine SLP, once SLP Engineering, and will allow the yard to expand its footprint in the UK…
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