Ophir Energy Plc said on Wednesday it has agreed to be bought out by Indonesian oil and gas group Medco for a sweetened bid of 390.6 million pounds ($511.02 million) in cash.The offer of 55 pence per Ophir share represents a 65.7 percent premium to Ophir's closing price on Dec…
European owner and operator of semi-submersible accommodation vessels Prosafe has submitted the largest bid in two online auctions for the supply of safety and maintenance support vessels to Brazil.'Prosafe has participated in an online auction…
The inaugural edition of the relaunched Offshore Engineer magazine is now available, in print and online.Inside the January/February issue you'll find insight on the technologies and projects driving the offshore energy industry, including:FLNGThe…
China's state-owned offshore oil and gas producer CNOOC Ltd said it is confident of achieving its spending target this year, the highest since 2014, as its responds to a call to build up the nation's petroleum output and reserves.The company plans to spend 70 billion to 80 billion yuan ($10…
A new additive manufacturing service aims to transform how parts are created and optimized, reducing supply chain risk, decreasing costs and boosting efficiencies for sectors such as oil and gas.Advisian Digital, the data science, software and technology business of the WorleyParsons Group…
The deepwater exploration company operating primarily in the Gulf of Mexico reported the drilling of a successful discovery on its Nearly Headless Nick exploratory prospect on Mississippi Canyon Block 387 in the deepwater Gulf of Mexico.Louisiana…
Dutch offshore surveyor Fugro said Friday it is set to commence its first project using the multipurpose remotely operated vehilve (ROV) support vessel, Edda Sun, with mobilization for an inspection, repair and maintenance (IRM) contract planned for March 2019…
Norway's Aker BP will boost dividend payments between now and 2023 and step up investment in developing offshore oil and gas fields next year, the independent oil company said on Thursday.The result of a 2016 merger between the Norwegian operations…
Britain's Premier Oil Plc said on Monday it was looking to buy U.K. North Sea assets, after the Sunday Times reported that it was preparing to tap shareholders for cash to help it buy about $1.5 billion worth of oil fields.The company's shares fell as much as 12…
London-listed Ophir Energy has suffered a major setback on its offshore investment plan in Equatorial Guinea after the country's Ministry of Mines and Hydriocarbons (MMH) declined the company's request to extend Block R licence that expired on December 31…
Faroe Petroleum's Chief Executive Graham Stewart, Chief Financial Officer Jonathan Cooper and Chief Operating Officer Helge Hammer will resign, Faroe said on Friday after the company was taken over in a hostile bid by DNO.The executives, including Stewart who was among the founders of Faroe…
Oil workers accepted an improved pay offer by the Offshore Contractors Association to 2,500 union members, the Unite union said, a move which removes the threat of strike in the British North Sea which is home to the Brent crude benchmark.'Unite Scotland's 2…
A 78-percent refund on exploration aside, drilling is now so “cheap” in Norway, that the drill bit has become the preferred method for newcomer oil companies to get astride some production — quickly.That’s the verdict of Aker BP’s new head of exploration…
Norwegian oil firm DNO has bought another 914,732 shares in Faroe Petroleum at 151.6 pence each, it said on Tuesday.The purchase, at just below the 152 pence per share price it has offered in a takeover bid for Faroe, adds slightly to DNO's stake…
New UK North Sea-focused oil and gas company Tailwind Energy has announced first oil from the 100% owned Gannet E redevelopment to the Triton FPSO. The London-based contracts services company for North Sea work said in a press note that the…
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