Oilfield services company John Wood Group, recently rebranded to Wood, has sold its industrial services business to Kaefer.London-listed Wood said the sale of the part of the business which provides integrity and fabric maintenance for assets…
Total beat forecasts on Thursday by keeping net adjusted profit for the fourth quarter steady at $3.2 billion despite low oil prices and fulfilled a pledge to boost dividends, lifting the French energy major's shares. Analysts had forecast net profit of about $2…
National Oilwell Varco beat estimates for its fourth-quarter profit on Thursday, as the oilfield services provider cut costs to counter an ongoing decline in North American drilling activity. Lower crude prices and investor demand for higher returns have forced U…
BP's phase three of the $12 billion West Nile Delta project offshore Egypt will come online by the end of this year, nearly 12 months behind the earlier scheduled deadline, the company said in a conference call this week.The third phase includes the development of the Raven field…
North Sea private equity-backed Chrysaor's talks to buy smaller regional rival Siccar Point have ended after a large gap between their price expectations, three sources close to the process said. The breakdown in negotiations highlights difficulties…
Oil prices slipped on Wednesday on concerns that the U.S./China Phase 1 trade deal may not provide much of a demand boost because the United States intends to keep tariffs on Chinese goods until a second phase deal. Prices were also under pressure…
Italian oil company Eni has produced first oil from its Agogo field offshore Angola, nine months after discovery.Eni brought the field online via the FPSO Ngoma located 15 kilometers from the oil field. The current output level is around 10…
Oil prices edged higher on Tuesday as investors focused on the signing of a preliminary trade deal between the United States and China, the world's top oil consumers, and on expectations of a drawdown in U.S. crude oil inventories.However, price gains were capped by receding Middle East tensions…
Independent oil and gas producer Jadestone Energy has won an arbitration case against Total regarding a dispute over an offshore block in the Philippines.Jadestone Energy, focused on the Asia Pacific region, said Thursday its subsidiary Mitra Energy had been awarded monetary damages…
The Norwegian oil company Equinor has secured consent to use the Transocean Norge offshore drilling rig for drilling operations in the Norwegian Sea.The country's offshore safety body, Petroleum Safety Authority Norway, on Friday gave its approval…
Africa focused oil and gas firm Vaalco Energy has brought online another well at the Etame field offshore Gabon. The well Etame 11H well has been producing at a higher than anticipated rate, the company said Wednesday.The Etame 11H well is the second development well in Vaalco0s 2019/2020 program…
From reporting on major new deepwater discoveries and impressive engineering and technological feats, to expert commentary on impactful market trends, Offshore Engineer delivered no shortage of exciting offshore industry coverage throughout 2019…
Norwegian energy firm BKK announced plans to build an offshore power grid in the North Sea, in a more than $2 billion project to help the country's oil and gas industry cut greenhouse gas emissions.It will undertake the project with infrastructure company CapeOmega…
2019 has seen greenfield prospects in the US Gulf of Mexico return to the forefront of upstream planning. Chevron is pursuing the 20,000 psi Anchor project while Shell intends to replicate the Vito semi-sub to develop its Whale discovery. Meanwhile…
Classification society ABS said it has granted the first Approval in Principle (AIP) to VARD for its design of a Jones Act service operations vessel (SOV).The AIP addresses a customized version of VARD 4 07 US SOV design, with primary functions including accommodation…
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