Marathon Oil has agreed to sell its 10% working interest in Block 31, off Angola to China Petrochemical Corp. (Sinopec) for US $1.5 billion.. The companies anticipate closing 4Q 2013, with an effective date of January 1, 2013. The transaction will bring Sinopec’s stake in Block 31 to 15%…
ONGC Videsh Ltd. (OVL) and Oil India Ltd. (OIL) have agreed to purchase Videocon Mauritius Energy Ltd.’s 10% share in the Rovuma Area 1 Offshore Block in Mozambique (Area 1) for US $2.47 million. The acquisition will give OVL 60% stake and OIL 40% stake in Area 1…
Engineering and construction firm Foster Wheeler has bought Aberdeen-based upstream consultancy Ingen Ideas. Ingen specializes in field development and project decision support, focused on the evaluation and implementation of oil and gas field developments…
Produced Water Absorbents of Ohio launched its Osorb technology at OTC 2013 for the treatment of oil and gas wastewater streams. Osorb is a regenerable granular media, which PWA says removes up to 99% of free, dispersed, emulsified and soluble hydrocarbons…
Carrolton, Texas,-based Varel International l a u n c h e d i t s Katana-series steel body polycrystalline diamond compact (PDC) drill bits. Varel’s PDC Product Manager Cary Maurstad describes the line as a definitive enhancement for the company’s fixed cutter…
At OTC Fincantieri unveiled a new next generation drillship design, Overdrill, created with support from Norway’s Aker Solutions. The vessel, at 208m long and 40m wide, accommodating 210 people, aims to be smaller than existing units through…
Kongsberg Mesotech Ltd announced the release of the 1171 Series Multi Frequency High- Resolution Fan/Cone Sonar Head.The operating frequency of the cone transducer can be selected by choosing one of four frequencies and the frequency of the…
The Energy Technologies Institute (ETI) and HR Wallingford unveiled a tidal energy modeling tool for use by tidal energy developers to identify the most efficient sites for tidal energy converters, tidal arrays, or tidal barrage schemes around the UK and French coastlines…
Subsea 7 officially opened its Global Pipeline Welding Development Centre (GPWDC), the result of a £10million in its operations base at Clydebank, Glasgow. The center is to develop welding technology for deployment globally and follows…
A new satellite platform built in the north east of England is due to float out of its yard tonight (May 29) to be installed 177km off Aberdeen. The 6338ton Forties Alpha satellite platform (FASP) topsides is part of a £400million project…
IKM Consultants has taken over Poseidon Consulting Services (PCS) after buying 100% of its shares from Siemens in Norway. Poseidon, which mainly focusses on subsea and pipeline work, has about 150 staff, which will be taken in to IKM's business…
Aberdeen-based Senergy Software rolled out a followup to its geosciences-specific Oilfield Data Manager 3.8 (ODMTM) software. Version 3.8 features an improved user interface and comes equipped with new heatmap and analysis sticks features…
Innovation in the offshore industry was one of the key themes at this year’s 27th Offshore Achievement Awards. The event, supported by Offshore Engineer and held at the Aberdeen Exhibition & Conference Centre, was successfully re-launched…
Vikoma International Ltd., an oil pollution and environmental technology firm that is part of Energy Environmental Group, launched the OPRS 300 oil pollution recovery system last month. The OPRS 300’s patented discs attract oil…
Norwegian technology supplier Kongsberg Oil & Gas Technologies AS released its new LedaFlow 1.3 transient multiphase simulator for wells and pipelines in March. The software offers new functions such as a separator model, bypass pigging capabilities…
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