Canada’s SNC-Lavalin has agreed to buy Jersey-based oil and gas services company Kentz Corporation in a deal valuing the Kentz at £1.2 billion (C$2.1 billion). SNC-Lavalin said the move was part of its strategy to become a global Tier-1 engineering and construction company…
Royal Dutch Shell is selling a major portion of its stake in Australia's Woodside Petroleum Ltd., raising AU$5.7billion. Shell is selling 9.5% back to Woodside, and another 9.5% to institutional investors, at a small discount to the closing share price on 16 June 2014…
Maersk Oil UK has awarded Denmark's Ramboll Oil & Gas the detailed design for the Culzean wellhead jacket. The project will be Ramboll’s first major involvement in the Culzean field, and it also marks the largest substructure design by Ramboll for the North Sea…
Statoil will pay COSL Offshore Management (COM) a one-time settlement of US$65 million under an agreement reached today that ends disputes related to the stand-by fees of two semisubmersible platforms. The stand-by fees stemmed from the installation of third-party equipment…
With June 1 marking the beginning of the 2014 Atlantic hurricane season, preparation efforts in the US Gulf of Mexico are a necessity for operators such as BP. BP, which operates four developments (Atlantis, Thunder Horse, Mad Dog, and Na Kika) located approximately 140-190mi…
Deep Sea Supply has agreed a deal to buy 10 platform support vessels (PSVs) for US$366 million. The move will increase the firm's fleet from 30 to 40 vessels. Deep Sea Supply says the 10 PSVs will achieve attractive cash break even rates…
Singapore-based marine and offshore engineering firm Sembcorp Marine has agreed entered to buy a 12% stake in Norwegian firm GraviFloat for US$4 million, with a right to increase its stake up to 20%. GraviFloat was formed to design, deliver and operate re-deployable…
Calgary-based Sterling Resources issued its 1Q results today, reporting US$20.5million revenue attributable to production from the Breagh gas field in the UK North Sea, and expenses of $2.6 million during the quarter. The average expected…
UK plate and specialty metals supplier Murray Metals (MM) has bought Alphastrut, giving it a foothold in the offshore oil an dgas industry. Alphastrut offers an aluminium support and cable containment system which MM says is more than…
OAO Yamal LNG closed on a contract to supply China National Petroleum Corporation (CNPC) 3mtpa LNG annually for 20 years from the Yamal LNG project in the Russian Arctic, according to Yamal LNG majority shareholder OAO Novatek. CNPC bought…
The Intervention & Coiled Tubing Association’s European Chapter (ICoTA) will examine the role of wireless communication technology and its benefits in well intervention at its next lunch and learn session on 20 May. The presentation,…
Alimak Hek Group AB is buying the offshore operations of Heis-Tek, a Norwegian specialized traction elevator company, focused on tailored vertical access solutions to the oil and gas industry. “This acquisition will allow us to become…
UK-based subsea services firm Reef Subsea is to split up into three independent companies after its January buyout by Norwegian private equity outfit Hitecvision. The three new companies will be Reef Subsea, X-Subsea, and Technocean Subsea…
Offshore grouting contractor FoundOcean has secured two contracts on the Solan oil field development west of the Shetland in the North Sea. The contracts, with Heerema Marine Contractors and Bibby Offshore,& cover structural grouting on the 8000-tonne Solan platform jacket and its 300…
A third well is now producing in the Sapinhoá field, Petrobras announced, in keeping with the target date given when its preceding well was brought onstream in February. Well 7-SPH-04-SPS, which lays in 2120m of water on Block BM-S-9 of the Santos basin presalt region…
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