North Sea production shut-in due to a 'hairline' crack in a pipeline is costing operators US$26.68 million a day in lost production, according to industry body Oil & Gas UK. The crack was found last week in an onshore section of the 235mi-long Forties Pipeline System (FPS)…
Dutch group Royal Boskalis Westminster has added two large diving support vessels (DSVs) to its fleet. Through an agreement with the bondholders of the two former Harkand vessels, Boskalis has acquired the DSV Atlantis for about US$60…
Tamar Petroleum is negotiating with Noble Energy to acquire a 7.5% participation right in the I/12 Tamar lease and the I/13 Dalit lease offshore Israel. The company seeks to gain the interest through cash and private placement of company shares to Noble…
Contractor confidence in the UK Continental Shelf (UKCS) has risen with almost half being more confident about their prospects for the first time since 2013, according to an industry survey. The findings of the 27th Oil and Gas survey…
EnQuest says its Kraken field is on track to reach 50,000 bo/d gross in the first half of 2018 after achieving month on month production growth since coming on stream June this year. Armada Kraken FPSO Early this month…
UK oil major BP is set to sell its operated interests in the Bruce, Keith and Rhum fields, including three bridge-linked platforms and subsea infrastructure in the North Sea to UK independent Serica Energy. Subject to completion of the deal…
St. Louis-based technology firm Emerson Electric has withdrawn its recent offer for Rockwell Automation, citing the continued unwillingness of Rockwell’s board of directors to discuss merging the companies. Emerson Chairman and Chief Executive David N…
Pacific Drilling has filed for Chapter 11 bankruptcy 'to pursue a comprehensive restructuring' of its approximately US$3 billion in outstanding funded debt. The international drilling contractor reported on 12 November that it planned…
ONGC Videsh has entered an agreement with Tullow Oil to acquire a 15% participating interest in the offshore Namibia Petroleum Exploration License 0030 for Block 2012A. India-based ONGC Videsh said today (21 November) the completion of…
St. Louis-based technology firm Emerson Electric has once again offered to buy Milwaukee-based Rockwell Automation, this time proposing to acquire all of Rockwell’s outstanding shares in a deal valued at $29 billion. David N…
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…
Shell took another step towards completing its three-year, US$30 billion divestment program by selling shares in Woodside Petroleum to equity investors. Shell subsidiary, Shell Energy Holdings Australia, initially said today (13 November)…
Canadian Overseas Petroleum says it and its partner ExxonMobil on block LB-13, offshore Liberia, West Africa, are to relinquish the block. The two have elected not to enter into third exploration period and surrendered their rights to the LB-13 license…
Private equity backed independent Chrysaor says it is already maturing drilling opportunities after completing a deal to buy a major package of UK North Sea assets from Shell for up to US$3.8 billion. The deal sees Chrysaor become a major independent exploration company company in the UK…
Norwegian private equity-backed player Point Resources has completed its deal to buy ExxonMobil's operated stakes in the Balder, Ringhorne, Ringhorne East, Jotun and Forseti fields on the Norwegian Continental Shelf (NCS) and plans to invest US$2…
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