Oceaneering International, Inc. reported record fourth-quarter and annual earnings for the periods ended December 31, 2012.For the 4Q 2012, Oceaneering earned net income of $80.6 million, or $0.74 per share, on revenue of $780.9 million. During the corresponding period in 2011…
Seamless pipe mill is Tenaris’ first in US Texas Gov. Rick Perry speaks at an event announcing a new seamless pipe mill in Bay City, Texas (Image: Tenaris)Tenaris will build a US$1.5 billion seamless pipe mill in Bay City, Texas, the company…
Oceaneering to provide 3 BOP control systems Multiplex Control Pod (Image: Oceaneering) Oceaneering International, Inc. secured contracts with a subsidiary of Transocean Ltd. to provide three subsea blowout preventer (BOP) control systems…
Seadrill will manage tender rigs outside Asia West Vencedor (Photo: Seadrill)Norway's Seadrill Ltd. completed the sale of its tender rig business to Malaysia's SapuraKencana Petroleum Bhd. for $2.9 billion, the company confirmed on 11 February 2013…
Carrizo Oil & Gas has agreed to sell its wholly-owned subsidiary, Carrizo UK Huntington, and its 15% interest in the North Sea Huntington field for US$184 million in cash to Calgary-based Iona Energy. The Houston-based explorer expects to net $116 million from the sale…
Aker Solutions acquired Canadian firm AKCS Offshore Partner. The company said the buyout supports planned future growth in North America as well as expansion into the St John’s, Newfoundland & Labrador, and Atlantic Canada market. AKCS was formed by Aker Solutions…
IHC Merwede has named René Raaijmakers (pictured) as offshore sales director, succeeding Twan Voogt. Raaijmakers is charged with all commercial activities within the offshore division. Since April 2012, he served as product director for renewables and manager of IHC Offshore Systems…
Offshore energy means more than just oil and gas. But is it an energy nirvana or a cult of false hope? Bruce Nichols looks at the progress that the marine renewables industry has made, and the hurdles it has to overcome.The latest trend in renewable energy has come to Cobscook Bay in Maine…
BC Petroleum (a ROC, Dialog Group and Petronas venture) discovered 87m of hydrocarbon pay in multiple zones of the Balai-2 well off east Malaysia. Drilled to 2266m TD, Balai-2 targeted a shallow carbonate reservoir and a deeper series of stacked sandstone reservoirs…
Eni discovers oil and gas pay at Sankofa wellTesting at Sankofa-2 ST (Photo: Vitol)Eni successfully drilled Sankofa East 2A, the first appraisal well of the Sankofa East oil discovery in the Offshore Cape Three Points (OCTP) block, located in the Tano Basin offshore Ghana…
AKCS coup furthers Aker's Canadian expansionAker Solutions strengthens its commitment to the Canadian oil and gas market through taking full ownership of Newfoundland and Labrador-based AKCS Offshore Partner.'The buy-out will support…
Cobalt has hit several hundred feet of net oil pay at its deepwater North Platte prospect in the Gulf of Mexico. Drilling was a long time coming for the company after operations were postponed following the 2010 moratorium. The well was drilled to 34,500ft TD in Garden Banks block 959.
US crude and condensate production has been falling since 1972 with only a couple brief periods of respite or flattening downward. Most analysts felt that the decline was irreversible. The decline flattened in 1991, 1997 and 2001 and, as a result of a dramatic jump in oil prices…
During the past few years, annual change in global oil demand has been running 0.8-1%/year and the International Energy Agency (IEA) forecasts it to continue in that range in 2013 – well below the previous 20-year 1.5% average annual increase seen before the global banking crisis…
Dana chooses Subsea 7 for Western Isles EPIC Dana Petroleum's Western Isles developmentSubsea 7 S.A. announced the award of a contract valued at approximately US$300 million from Dana Petroleum, for the provision of subsea EPIC services in support of their Western Isles development project…
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