Fugro and Solstad have an agreement in place for the purchase of the Rem Etive subsea construction vessel. Image of the Rem Etive, from Solstad. Fugro said it has secured continued…
Anadarko had to shut-in production at two of its operated facilities last week, following a fatal fire at the onshore Phillips 66 Partners Paradis Pipeline Station west of New Orleans, Louisiana. Image of Heidelberg…
Anadarko has its eyes set on Colombia, announcing further drilling plans in the Purple Angel block, and opportunities it has identified through the Esmeralda 3D seismic survey in the area. Map of Gorgon…
Malaysia's MISC Berhad has won its battle in court against supermajor Shell over contractual disputes concerning the construction and lease of the Gumusut-Kakap semi-floating production system (Semi-FPS), offshore Malaysia that was filed last year…
BP has completed the US$375 million deal to buy a 10% interest in the Shorouk concession offshore Egypt, containing the super-giant Zohr gas field. Eni CEO Claudio Descalzi, Bob Dudley, CEO of BP, and the Egyptian Minister of Petroleum…
French giant Total will launch 10 upstream projects in the next 18 months, as the company targets a US$3.5 billion costs savings for the year. Image of Total CEO Pouyanné, from Total. In 2017…
Statoil posted a loss of US$2.76 billion to its net income that the Norwegian giant attributed to its international operations that consisted of expensed exploration wells, high maintenance activity, and impairment charges. Image of Eldar Sætre…
Newly formed subsea firm M² Subsea has opened its new office in Aberdeen and created 30 jobs. The business, which secured private equity investment towards the end of 2016, has moved people and equipment into premises in Arnhall Business Park at Westhill in Aberdeenshire…
Hess Corp. posted a US$4.9 billion net loss in Q4, as the company moves forward to focus on its developments offshore Thailand and in the Gulf of Mexico, which are expected to contribute significant production and cash flow. The…
Polarcus has signed a heads of agreement with Russia's SCF GEO AS (Sovcomflot) to charter a vessel on bareboat terms with delivery scheduled for March 2017, a deal that comes with an option for Sovcomflot to buy the vessel. Image of the Polarcus Nadia…
BW Offshore signed a farm-out deal to become operator of the Kudu license offshore Namibia with 56% stake. The company’s subsidiary BW Kudu will take over the license, with Namibian state-owned oil company National Petroleum Corp. of Namibia (NAMCOR) holding the remaining 44% interest…
Chevron posted total earnings of US$415 million for Q4 2016, however, posted a loss for full-year 2016 that the US supermajor says were due to the low oil prices. Image from Chevron. Chevron’s Q4 2016 earnings reflected a gain…
Independent explorer Tullow Oil is lining up a string of exploration projects this year, including targeting the 500 MMbo Araku prospect offshore Suriname in 2H this year. Other projects include seismic campaigns in Ghana, Jamaica and Uruguay…
FAR Ltd. says it has identified more than 1.5 billion bbl of undrilled oil prospectivity in its acreage offshore Senegal through the interpretation of new 3D seismic data. The Stena DRILLMAX is currently drilling the SNE-5 well…
Supermajor Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to US$3.8 billon. The packaged deal consists of Shell's interest in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster…
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