Australia's AWE rejected an unsolicited US$309 million (AU$420 million) takeover bid from US private equity group Lone Star Japan Acquisitions. Lone Star's proposal was to acquire all of the shares in AWE for a cash consideration of $0…
UK independent operator Premier Oil says it has cut costs on its North Sea Catcher floating production project by 15% - and the project remains on schedule. Forecast gross capex to first oil is now anticipated to be about US$1.35 billion…
Australian explorer AWE has agreed to sell its 42.5% interest in the Bulu production sharing contract, offshore east Java, to a 100% owned subsidiary of HyOil for up to A$27.5 million (US$20.6 million), subject to Indonesian government approval and future development…
DNV GL – Business Assurance USA, Inc. issued Noble Energy a certificate of compliance to the SEMS (Safety and Environmental Systems) standard, which represents the highest criteria for safe operations of offshore drilling platforms. This…
McDermott International has been awarded three separate projects by a major national oil company for the integrated engineering, procurement, construction, and installation (EPCI) services in multiple fields in the Arabian Gulf. In addition to this…
Hess Corp. recorded a US$509 million loss in Q1, in addition to a 34% drop in its revenue. Image from Hess. The loss is much wider than the Q1 2015 loss of $389 million. The decrease…
Nexen Petroleum is to end production from the Ettrick field in the North Sea and remove the floating production facility FPSO Aoka Mizu from the location. Nexen, which is owned by China National Offshore Corporation, terminated a contract with FPSO provider Bluewater in March…
UK-based independent Premier Oil has completed its deal to by E.ON's UK North Sea assets. On 13 January 2016, Premier announced that it had agreed to acquire the whole of E.ON's UK North Sea assets for a net consideration of US$120 million…
Cobalt International has struck its sixth pre-salt discovery offshore Angola. The firm made a 'significant condensate and gas' discovery on the Zalophus #1 pre-salt exploration well in Block 20 offshore Angola. It is the firm's third discovery on Block 20…
Paris-headquartered subsea and engineering house Technip has come out of Q1 2016 with a better than expected profit, but its CEO expects front end market activity to remain damp until late-2016, early 2017. Meanwhile, Subsea 7 has seen…
Scanning the newspapers, social media and analyst coverage this year, there is consensus that a recovery in oil prices is coming, as a function of a reduction in over-supply, and that we should expect upward movement in prices later this year…
Kory Kinney, of IHS, takes a look at some of the projects underway in the US Gulf of Mexico. As we move through 2016, construction activity in the US Gulf of Mexico has begun dwindling…
Interocean Marine Services have been awarded a five-year contract by Maersk Oil North Sea UK for the provision of rig move and marine technical support services. The work will be managed by Interocean’s head office in Aberdeen, and will…
Byron Energy will further its efforts at the SM71-1 well in the Gulf of Mexico after encountering the presence of oil in three intervals, according to partner Otto Energy. A quad combo porosity logging run has been acquired and 7 5/8in…
Quest Offshore assesses the drilling, subsea, and marine construction dynamics affecting of one of the world’s pre-eminent deepwater basins amid the downturn. The Gulf of Mexico has long been a region of critical importance to the global deepwater industry…
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