Newly formed subsea firm M² Subsea has opened its new office in Aberdeen and created 30 jobs. The business, which secured private equity investment towards the end of 2016, has moved people and equipment into premises in Arnhall Business Park at Westhill in Aberdeenshire…
Kerogen Capital plans to commit up to US$300 million to back Pandion Energy, as the company pursues exploration, appraisal and development opportunities on the Norwegian Continental Shelf (NCS) through acquisitions, farm ins and licensing rounds…
Norwegian outfit Borr Drilling has taken delivery of the Frigg (formerly Hercules Resilience) and the Ran (formerly Hercules Triumph) jackup drilling rigs from Hercules Offshore. The two rigs, bought for US$130 million late last year…
Supermajor Shell has agreed to sell a package of UK North Sea assets to Chrysaor for a total of up to US$3.8 billon. The packaged deal consists of Shell's interest in Buzzard, Beryl, Bressay, Elgin-Franklin, J-Block, the Greater Armada cluster…
Chevron posted total earnings of US$415 million for Q4 2016, however, posted a loss for full-year 2016 that the US supermajor says were due to the low oil prices. Image from Chevron. Chevron’s Q4 2016 earnings reflected a gain…
Vaalco Energy reported strong Q4 and full year 2016 production results. Image from Vaalco. Production for Q4 2016 averaged approximately boe/d, above the previously provided guidance range of 3300-3600 boe/d…
The Thunder Horse South Expansion project, in the deepwater Gulf of Mexico, has started up 11 months ahead of schedule, supermajor BP announced today (23 January). Illustration of the expansion at Thunder Horse…
W&T Offshore has received approval for a capex of US$125 million that will set up the Houston-based company to drill six to eight wells in the Gulf of Mexico this year, with its priority going to its Mahogany field. Image from iStock…
Hess Corp. posted a US$4.9 billion net loss in Q4, as the company moves forward to focus on its developments offshore Thailand and in the Gulf of Mexico, which are expected to contribute significant production and cash flow. The…
Global Energy Development (GED) has entered into two share purchase agreements to acquire a total of 11 offshore subsea service vessels, and a barge vessel, as it seeks to adopt a new business strategy focusing on the subsea oilfield services sector…
Short-term production from the BP-led Azerbaijan’s Azeri-Chirag-Gunashli (ACG) project in the Caspian Sea is expected to be flat, and contain gas rather than oil, according to a new analysis from Douglas-Westwood (DW). ACG…
Houston-based Vaalco Energy restarted production at the Avouma 2-H well on the Avouma platform, offshore Gabon, after utilizing a hydraulic workover unit to replace a failed electric submersible pump (ESP) system. Gabon drill floor operations…
Neil Gordon, chief executive of Subsea UK. When looking at oil price trends over the years since the 1920s, it becomes apparent that apart from the cyclical spikes every few years…
Heerema Marine Contractors (HMC) has chosen Emerson Automation Solutions to provide a valve remote control (VRC) system for a semisubmersible offshore crane vessel, SSCV Sleipnir, currently under construction at Sembcorp Marine’s shipyard in Singapore…
Mermaid Maritime is at the chopping block again with China Merchants Industry, as the Thai company axes an additional two newbuild contracts with the shipbuilder. Illustration of the MTR-3 rig…
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