Private equity firm HitecVision is seeking to sell its British North Sea oil and gas production unit Verus Petroleum, which last year completed a string of large acquisitions ramping up its output, industry and banking sources said.The sale…
Turkey will begin drilling for oil and gas near Cyprus in coming days, state-owned news agency Anadolu reported Foreign Minister Mevlut Cavusoglu saying on Thursday, a move that could stoke tensions with neighboring Cyprus and Greece.Turkey…
Oil and gas companies operating in Norway have lowered their investment forecasts for 2019 to 172.7 billion crowns ($20.06 billion) from 175.3 billion crowns seen in November, a survey by the country's statistics agency (SSB) showed on Thursday…
Total E&P Danmark has awarded Oceaneering International Inc. a two-year integrity management contract for the Tyra redevelopment project in the Danish North Sea.Oceaneering will manage its activities from Aberdeen. The agreement covers a range of services…
Norwegian shipbuilder Ulstein and Dutch offshore consultancy SeaOwls BV have decided to each go their own separate ways in the offshore wind industry.The jointly developed SOUL jack-up concept is geared toward the transport and installation…
Brazil's state-run oil company Petroleo Brasileiro SA (Petrobras) has started producing oil and gas from the P-76 FPSO in the Búzios field in the Santos Basin, offshore Brazil.The oil and gas company said that with a daily capacity to process up to 150…
Eco Atlantic Oil & Gas Ltd and partners have contracted a rig, the Stena Forth, to drill the Jethro-Lobe prospect on the Orinduik block, offshore Guyana.'Eco (Atlantic) Oil & Gas, along with its partners in the Orinduik Block, offshore Guyana…
Babcock said it has been awarded a four-year framework contract for brownfield fabrication and modification projects on the BW Catcher, a floating production, storage and offloading vessel (FPSO) owned by BW Offshore. The scope of the contract includes engineering…
Large-scale conversion project on offshore platform Molikpaq operated by Sakhalin Energy.While the refit of heavy lift capacity onboard an offshore rig might sound mundane, Liebherr’s project to replace and modernize cranes on the offshore platform Molikpaq operated by Sakhalin Energy…
After years of budget cuts, oil and gas companies are finally stepping up their exploration game. Several wildcat wells planned for 2019 have the potential to be “elephant” finds, according to Rystad Energy.The energy research and business intelligence…
Marine and oil and gas services provider James Fisher and Sons (JFS) is expanding its footprint in the Middle East offshore market acquiring service provider Murjan Al-Sharq Marine Contracting LLC (MSMC) in Saudi Arabia.MSMC is an established service provider based in Saudi Arabia…
The newly delivered Skandi Olinda flexible lay and construction vessel owned by a 50/50 joint venture of TechnipFMC and DOF Subsea has commenced an eight-year charter contract with Petroleo Brasileiro S.A. (Petrobras).'Skandi Olinda has state-of-the-art pipelay and marine technology…
U.S.-China trade talks this week also in focus.Oil was close to its 2019 high of almost $67 a barrel on Tuesday, supported by OPEC-led supply cuts although gains were capped by concerns about slowing economic growth that could hit demand.The…
Spanish tidal energy developer Magallanes Renovables is testing its tidal technology on a test site at the European Marine Energy Centre (EMEC) in Orkney, Scotland.The successful installation of their second generation (2G) 2MW tidal platform…
The offshore pipeline market is expected to grow from $11.5 billion in 2018 to $15.8 billion by 2023, at a CAGR of 6.54%, from 2018 to 2023.Increasing demand for safe, economical, and reliable connectivity expected to drive the overall offshore pipeline market…