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…
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…
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…
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…
It took a long time for exploration to make its impact offshore East Africa. Now it has, will there be another wait for LNG projects to look profitable? Professor Alex Kemp reflects. Image from iStock…
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…
Aker Solutions entered into an agreement to buy 70% of Brazilian CSE Mecânica e Instrumentação Ltda, in which the deal comes with an option to purchase the remaining 30% of the company three years after the expected close of the transaction by the end of Q1 2017…
Mexico’s Petróleos Mexicanos (Pemex) is looking to turn its financial structure around in 2017 by placing, repurchasing, and exchanging bonds. Image from Pemex. Yesterday (3 October)…
The Transocean Winner has been loaded onto the Hawk semisubmersible heavy lift ship, and is preparing for its journey to Turkey, according to the UK’s Maritime & Coastguard Agency (MCA). The Transocean Winner…
Development costs to first oil for the Sea Lion project off the Falklands have been reduced to US$1.5 billion with more savings possible, according to partner Rockhopper exploration. The UK-based independent also says the 2C, or proved plus probable reserves…
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