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…
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…
Australian energy giant Woodside will acquire half of BHP Billiton’s Scarborough gas assets in the Carnarvon Basin, offshore Western Australia. Woodside will pay US$250 million on completion of the transaction and a contingent payment…
Shell is divesting 100% of its Brutus and Glider assets in the Gulf of Mexico in a US$425 million cash deal with Houston-based and privately held EnVen Energy Corp. Brutus, during dockside integration…
Transocean's Transocean Winner semisubmersible drilling rig, which ran aground on a Scottish Island more than two weeks ago, is now under tow to safer waters. The rig was refloated from Dalmore Bay, on west coast of the Isle of Lewis…
Only three companies participated in the US Bureau of Ocean Energy Management’s (BOEM) first ever online lease sale. Out of the 4399 blocks offered, the sale only received bids for 24 of those blocks for a total of just over US$18 million…
Noble Energy has been named the successor operator of the Thunder Hawk production facility, according to the company’s Q2 2016 report. Scant on details, Noble did confirm that the deal is expected to become effective within Q3 2016, subject to regulatory approval…
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