ConocoPhillips kicked-off the drilling campaign on its Eldfisk II project with Maersk Innovator. Five wells have been pre-drilled, and the drilling operations of the remaining 35 wells has now begun. Eldfisk II is one of four fields that comprise the Greater Ekofisk Area…
US-based Endeavour International is seeking bankruptcy protection after agreeing a restructuring agreement with some creditors. The company’s debt totals about US$1.2 billion, according to Chapter 11 papers filed in US Bankruptcy Court in Wilmington…
Petrobras has begun production from FPSO Cidade de Mangaratiba, located in Block BM-S-11 of the giant Lula field. The start-up represents the first in the Iracema Sul area of the presalt Santos basin, located 300km off the coasts of the Rio de Janeiro and São Paulo states…
Energy services company Proserv has signed an agreement to be acquired by major US private equity investor Riverstone Holdings LLC. Riverstone Global Energy and Power Fund V, LP, in partnership with Proserv management, will acquire 100% of Proserv shares from Intervale Capital…
BP is due to restart production at the high-pressure, high-temperature (HPHT) Rhum gas field in the UK North Sea, four years after the field was shut in due to Western sanctions against its 50% owner, Iran. A BP spokesperson said today that production was due to restart soon…
Malaysian state-owned oil firm Petronas has bought Statoil’s stakes in the BP-operated Shah Deniz project from Norway’s Statoil for US$2.25 billion. Statoil says the move, which sees it exit the Shah Deniz project, is part of its portfolio management…
Noble Energy and Singapore-based Ezra Holdings’ subsea division EMAS AMC, finalized three subsea tieback contracts worth approximately US$300 million. Image from Ezra. The scope of work includes engineering…
FoundOcean and Ranger Offshore Inc. signed a strategic agreement this month, formalizing a relationship that has previously developed between the two companies. FoundOcean, Ranger Offshore combine…
German company RWE Dea has been awarded two offshore blocks in the Gulf of Suez in Egypt’s international bid round. The new RWE Dea licences in the Gulf of Suez Map from Dea RWE will become…
At present we are seeing lower oil prices as a function of softer demand growth in both Europe and China combined with recent output increases from OPEC, particularly Libya, together with the ongoing surge in US production. In the short-term…
P&O Maritime, a subsidiary of Dubai-based global marine terminal operator DP World, has acquired a majority stake in Remolcadores de Puerto y Altura S.A. (Repasa), a Spanish operator of offshore support vessels. P&O and Repasa will form a new joint-venture company under the P&O Maritime brand…
CNOOC Ltd. began drilling at the WZ12-10-1 exploration well in the Beibu Gulf Block 22/12, offshore China. Map from Horizon Oil The well is located 4.7km east-northeast from Roc’s existing…
Less than a week before Scotland goes to the polls over independence, the heads of BP and Shell have made their opinions clear amid counter claims over North Sea oil. Bob Dudley and Ben van Beurden, the CEOs of BP and Shell respectively…
Australian supply chain logistics group Brambles is to acquire Aberdeenshire-based Ferguson Group for an enterprise value of £320 million (US$545 million) expanding its container business. Ferguson Group provides container solutions to the offshore oil and gas sector…
Engineering and project services company Clough Ltd. acquired Booth Welsh, a privately owned engineering services company headquartered in Ayrshire, Scotland. The acquisition follows the establishment of Clough’s engineering center in Glasgow earlier this year…
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