Due to the weak market, Solstad Offshore will have up to 13 vessels laid up, in addition to reducing its workforce by approximately 300 positions, the Norwegian offshore service company announced in its 1H 2015 report. The Normand Pacific…
Transocean was awarded approximately US$35 million for two different contract extensions that are about 11,000mi from each other. The Transocean Barents. From Transocean. US…
Shell along with partner Esso Exploration agreed to sell their entire stakes (50-50) in the Anasuria Cluster in the UK Central North Sea to a Malaysian joint venture consisting of Ping Petroleum and Hibiscus Petroleum. News reports put the sale price at US$105 million…
Engineering firm Wood Group has since its revenues slide 20% to US$3 billion as it suffers from the reduction in activity in the oil and gas sector caused by operators tightening their belts amid low oil prices. The firm, which has reduced its headcount 13% since December…
After nearly two years, Gazprom Neft Shelf has brought its second well into production at the Prirazlomnoye field in the Russian Arctic. Image of the Prirazlomnaya field. From Gazprom. Prirazlomnoye is located in the Pechora Sea…
Image: Paul Betteridge, TCO director/TCO TCO has confirmed a continuation of strong sales results, leading to the expansion of its Aberdeen workforce by a third. Within the past six months…
Shell’s second waterflood monitor survey offshore Brazil shows technical success. Jeannie Stell reports. SBM Offshore’s Espirito Santo FPSO can produce up to 100,000 bo/d and inject up to 75,000 b/d of water…
McDermott International reported an increase in profits in 2Q, at US$11.5 million, up from a net loss of $7.4 million in the same period last year on revenues of $1.05 billion (up $570 million). McDermott says revenues for 2Q were positively…
BG Group’s revenue and operating income may have decreased in 2Q 2015, but the soon-to-be acquired company has also hit several milestones, including reaching record production levels in two countries. BG's QCLNG pipeline in Australia…
AGR's board of directors has made internal promotions to appoint a new CEO and CFO, as current CEO, Åge Landro, moves on to a new role after 11 years with AGR. Svein Sollund, part of AGR’s executive team for eight years, has been appointed as CEO…
Shell's acquisition of BG Group has cleared another major hurdle - unconditional merger clearance from the Brazilian competition authority (CADE). The clearance follows CADE’s initial approval of the combination on 8 July 2015, and…
Oil major Shell today said the oil price downturn could last for several years, as it revealed 6500 expected staff and contractor reductions in 2015, as well as further capital and operational spending cuts. “Operating costs are expected to fall by over $4 billion…
Shell’s arrival in the Chukchi Sea came with limitations from the Bureau of Safety and Environmental Enforcement (BSEE) that allows the supermajor to begin drilling, but not into oil-bearing zones just yet. The Noble Discoverer…
Image: TAM International TAM International has restructured its regional businesses into two individual hemisphere-based groups in order to achieve higher performance rates and streamline its business objectives…
Houston-based Oceaneering International is diving further into the subsea sector with the acquisition of a minority interest in the UK’s Viper Subsea Technology. Image from Oceaneering. The deal…
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