Oilfield Services News


Petrofac CEO Asfari to Retire

Oct 12, 2020

Energy services giant Petrofac said Monday its CEO Ayman Asfari would retire as Group Chief Executive at the end of the year. Petrofac said Asfari would focus on his family, health, and charitable interests.Sami Iskander, former EVP Upstream Joint Ventures at Shell, will join as Deputy Chief Executive on November 1, 2020 and, following a short transition period, will assume the role of Group Chief Executive from January 1…

Tracking the Environmental Impact of the Oil and Gas Supply Chain

Nov 24, 2020

With the energy transition gaining pace, several exploration and production (“E&P”) companies have adjusted their business models; both to reduce emissions and to mitigate climate-related business risks. E&Ps may be grabbing the headlines regarding…

Halliburton to Set Greenhouse Gas Emission Reduction Targets

Nov 19, 2020

Oilfield services provider Halliburton Co said on Thursday it would set greenhouse gas emission reduction targets in line with what the latest climate science outlines is necessary to meet the goals of the Paris Accord.The announcement comes…

Vår Energi Pens Deals with Dozen Norwegian Service Firms

Oct 28, 2020

Norwegian oil and gas company Vår Energi said Wednesday it had entered into five-year framework agreements with twelve Norwegian service providers.The framework agreements include the provision of services both offshore and onshore, and, according to Vår Energi…

Saipem Expects 'Brighter' Year End After Q3 Loss

Oct 28, 2020

Italian energy services group Saipem expects no major delay to projects and predicted brisker business in the last part of the year after swinging to a loss in the third quarter.'We are not out of the woods yet ... (but) the picture starts to get brighter…

Archer Nets Two-Year Extension with 'Major' North Sea Firm

Oct 22, 2020

Oilfield and drilling services firm Archer said Thursday it had secured a two-year contract extension with a major North Sea operator for the provision of platform drilling operations and maintenance services on seven UK North Sea installations…

Norway's Safe Union Breaks Off Wage Talks with Oilfield Services Firms

Oct 22, 2020

Wage negotiations between Norwegian oil service companies and the Safe labor union broke down on Thursday and will become subject to mandatory mediation later this year, union and industry officials said.Safe's 850 members are not permitted to strike at this point…

Third Straight Quarterly Loss for Baker Hughes

Oct 21, 2020

Baker Hughes Co reported a third straight quarterly loss on Wednesday, as a coronavirus-induced slump in commodity prices continued to hurt demand for equipment and services.Producers have been drilling fewer wells following a collapse in crude…

As Oil Rout Hits Services Demand, Schlumberger Reports Third Straight Quarterly Loss

Oct 16, 2020

Top oilfield services provider Schlumberger NV on Friday posted its third straight quarterly loss as this year's slump in oil demand and prices due to the COVID-19 pandemic cut demand for its services.The company kicked off earnings from hard-hit U…

Ithaca Energy Awards Petrofac a 5-Year North Sea Services Contract

Sep 15, 2020

The North Sea-focused oil company Ithaca Energy has signed a 5-year Integrated Services Contract with oilfield services provider Petrofac.Under the contract, Petrofac will provide engineering, construction, maintenance, and offshore manning…

Oilfield Services Giant Weatherford Appoints New CEO

Sep 11, 2020

Oilfield services company Weatherford will appoint Girish K. Saligram as its President and CEO effective October 12, 2020.He will replace the interim CEO Karl Blanchard who took the role after the previous CEO Mark A. McCollum left the company in June…

Europe Could Invest $35B in CCS by 2035, Rystad Says

Sep 07, 2020

After years of expensive carbon capture and storage (CCS) studies and test centers, Europe has now reached a phase where large-scale CCS developments make sense financially, Norwegian energy market intelligence group Rystad Energy has said.In a report on Monday…

Oilfield Services Employment Diving to 10-Year Low

Aug 12, 2020

Oilfield services sector is set to reach the lowest total workforce count in over 10 years, as a consequence of the COVID-19 pandemic, low oil prices, and cuts in spending by the oil companies.'The oil market turmoil brought on by Covid-19 has…

Leading Service Providers to Help Develop Barryroe Offshore Field

Jul 31, 2020

Irish oil and gas explorer Providence has shared a list of industry-leading service providers that are set to help develop its Barryroe oil and gas field offshore Ireland.Providence has been in Barryroe farm-out discussions with Norway-based SpotOn Energy…

Saipem Paints Gloomy Outlook for the Year

Jul 29, 2020

Italian energy services group Saipem painted a gloomy outlook for the year after reporting a net loss of 616 million euros ($723 million) in the second quarter following writedowns.The company said the industry faced uncertain demand for oil and gas…

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