Italy's Fincantieri has offered to buy out all the shares in shipbuilder Vard. Shipbuilding group Fincantieri, which is listed in Italy and is currently the majority shareholder in Vard, with 55.63% of shares, is offering S$0.24 a share in cash for Vard…
Singapore-based Sembcorp Marine entered into an agreement to sell its 30% stake in Cosco Shipyard Group (CSG) in a US$156 million (S$220.68 million) deal with China Ocean Shipping Group Co. (COSCO), eliminating the majority of Sembcorp’s interest in CSG…
Total investment in oil and natural gas extraction in Norway was 21% lower in 1H 2016 compared with 1H 2015, a decline of about US$3.5 billion (NOK 20.9 billion). However, investment cuts have affected some segments of the industry more than others…
In this video, Chevron shows the process it took for its Alder HPHT field to reach first gas, 41 years after in was discovered. Chevron’s high-pressure, high-temperature (HPHT) gas condensate Alder field in the Central North Sea started production this week…
Last year was a breakthrough year for subsea compression. Elaine Maslin surveys the projects that came online and discovers what became of Ormen Lange. Subsea compression at Ormen Lange. How it could have looked…
Noble Energy is expecting the final investment decision (FID) for its giant Leviathan development offshore Israel by year-end or early next year, the Houston-based explorer said in its Q3 2016 earnings call. The Noble Sam Croft…
A recently formed subsea services business has secured private equity investment in order to buy a fleet of 32 remotely operated vehicles. Aberdeen- and Houston-based M² Subsea was able to buy the fleet from the administrators of failed…
Singapore's Sembcorp Marine has agreed to buy the remaining 30% stake in Sembmarine North Sea that it doesn't already own. The firm owns UK fabrication yard Sembmarine SLP, once SLP Engineering, and will allow the yard to expand its footprint in the UK…
Aker Solutions entered into an agreement to buy 70% of Brazilian CSE Mecânica e Instrumentação Ltda, in which the deal comes with an option to purchase the remaining 30% of the company three years after the expected close of the transaction by the end of Q1 2017…
The Transocean Winner has been loaded onto the Hawk semisubmersible heavy lift ship, and is preparing for its journey to Turkey, according to the UK’s Maritime & Coastguard Agency (MCA). The Transocean Winner…
Mexico’s Petróleos Mexicanos (Pemex) is looking to turn its financial structure around in 2017 by placing, repurchasing, and exchanging bonds. Image from Pemex. Yesterday (3 October)…
Development costs to first oil for the Sea Lion project off the Falklands have been reduced to US$1.5 billion with more savings possible, according to partner Rockhopper exploration. The UK-based independent also says the 2C, or proved plus probable reserves…
The Bureau of Ocean Energy Management (BOEM) will offer approximately 47 million acres offshore Louisiana, Mississippi, and Alabama for oil and gas exploration and development in a lease sale that will include all available unleased areas in the Central Planning Area (CPA)…
SBM Offshore has released a video of the Turritella floating production and storage offloading (FPSO) unit, as the vessel started commercial production at Shell’s Stones development in the deepwater Gulf of Mexico on 6 September. At Stones…
INEOS UK E&P Holdings has secured a five-year US$294,000 million (£220 million) reserve-based lending facility, which it plans to use to acquire future projects. The facility, the firm's first reserves based lending facility, was secured…
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