Finnish government-owned investment company, Finnish Industry Investment Ltd, has acquired a 66.4% stake in Aker Arctic Technology Oy (Aker Arctic) from STX Finland Oy. Aker Arctic is a leading company in Arctic marine logistics and offshore solutions…
Petroliam Nasional Berhad (PETRONAS) has announced a new gas discovery offshore Malaysia and the award of a three year integrated offshore installation contract. Operator on Block SK320, Mubadala Petroleum, discovered gas in the Sintok-1 well…
A European consortium, led by NEL in the UK, has been awarded a three year research project to establish a reference measurement network and standards aimed at improving the accuracy of subsea multiphase flow measurement for the oil and gas industry…
Chevron Corp. announced its new US$39.8 billion capital and exploratory investment program for 2014. Approximately 90% of the 2014 spending program is budgeted for upstream crude oil and natural gas exploration and production projects…
Watch as the 488m-long hull of Shell’s Prelude floating liquefied natural gas (FLNG) facility floats out of the dry dock at Geoje, South Korea’s Samsung Heavy Industries yard, where the facility is currently under construction. Upon completion…
A group comprised of 17 oil and gas companies, led by Statoil, has established a project for joint seismic acquisition in the southeastern Barents Sea. At the request of the Norwegian Ministry of Petroleum and Energy (MPE), the industry…
E&P majors BP and Statoil presented their views on future exploration prospects in the Arctic. Meg Chesshyre reports. Representatives from BP and Statoil discussed both the challenges associated with and future plans for developing Arctic…
Fincantieri has signed an agreement with a Russian research centre to define plans for a new drillship able to navigate in ice up to 1.5m thick. The Italian ship building firm has also won a contract with Russia's RosRAO, to build a semisubmersible…
South Korea's STX Offshore & Shipbuilding Co. Ltd. launched SCF Melampus, the first of two ice-class LNG carriers ordered by Sovcomflot OJSC. The first vessel is to be delivered in late 2014; the second in early 2015. STX signed the $400million contract to build the two 170…
Russia needs to re-focus investment from easier conventional onshore projects to more difficult and expensive tight oil, LNG and Arctic developments to maintain production in the longer-term, according to industry analysts Wood Mackenzie…
Malaysia-based offshore oilfield services firm Bumi Armada Berhad has been awarded three contracts by LUKOIL-Nizhnevolzhskneft LLC to provide three Ice-Class vessels to service offshore platforms in the Filanovsky field, in the Caspian Sea…
The Arctic is one of the few areas remaining with large finds to be made. In order to operate and develop fields in the Arctic, new technologies are needed and are being developed, from ice-management systems to innovations in drilling. The…
Fugro announced that it has wholly-acquired Advanced Geomechanics Pty Ltd. (AG) to become part of its global geoconsultancy practice. The nearly 20-year-old, Perth-based AG provides geotechnical and geophysical engineering and consulting services…
PetroVietnam has signed new agreements with India's ONGC Videsh, and Russia's Rosneft. PetroVietnam's new memorandum of understanding with ONGC Videsh extends one previously signed in 2011. The MOU covers the joint exploration of hydrocarbons in Vietnam and India…
CGG surveys GOM for Pemex CGG has been selected to carry out a large high-end seismic acquisition survey in the Gulf of Mexico on behalf of Pemex. The survey, in Mexican waters, is phase 5 in Pemex’s Centauro program, the largest ever…
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