Saipem has revealed a strategic plan that will allow the company to face more challenging market conditions that will see the company split into five divisions. The company said that recovery is expected to take longer than previously estimated…
Cargotec is looking to save more than US$27 million per year with a cost saving program that will result in the loss of 260 full time employees at MacGregor. According to preliminary estimates, efficiency improvement actions seek the…
Statoil is cutting its contract short for Stena Drilling's Stena Don semisubmersible drilling rig, leading to about 180 job cuts. The Stena Don, from Stena Drilling. The rig has been on contract with Statoil since 7 February 2014…
Maersk Drilling is reducing its workforce at its Copenhagen headquarters by 70 in response to the continued market decline and reduced industry activity. Image from Maersk. The…
Aker BP's Ivar Aasen project has won approval to start production in early December from the Norwegian Petroleum Directorate (NPD), the agency announced today (24 October). Illustration of Ivar Aasen…
Brazil’s Petrobras and France’s Total have entered into a strategic alliance for upstream and downstream activities in Brazil, that will expand internationally. Image of Pouyanné, from Total. Petrobras…
Businesses working in the East of England gas industry were told there were at least another 20 years’ production left in the Southern North Sea by a government expert at Westminster. Production is expected to continue until at least 2035…
Singapore's Sembcorp Marine has agreed to buy the remaining 30% stake in Sembmarine North Sea that it doesn't already own. The firm owns UK fabrication yard Sembmarine SLP, once SLP Engineering, and will allow the yard to expand its footprint in the UK…
A sustained low oil price environment is a challenging one, with 'survival of the fittest' being an undeniable reality of the sector. Upstream exploration and production (E&P) operators, in the past two years, have scurried to re-evaluate their operational Business as Usual (BAU) practices…
Verus Petroleum entered into a sale and purchase agreement with Maersk Oil North Sea UK for the acquisition of Maersk Oil’s 9.8% interest in the Boa oil field, increasing Verus’s interest in the Boa field to 11.35%. The deal also adds approximately 1800 boe/d to Verus’s daily production…
Hurricane Energy is looking to raise US$86 million (£70 million) of new capital to fund its Lancaster development, West of Shetland, offshore the UK. Image from Hurricane Energy. The…
Well integrity and reliability software supplier ExproSoft has acquired Miriam, a supplier of RAM analysis software. Image of Odd Are Svensen (CEO, ExproSoft) and Christophe Spaggiari (CTO, Miriam)…
Global Maritime Consultancy & Engineering has been awarded a master services agreement (MSA) by Norwegian operator Statoil. Services covered in the global agreement include platform technology studies; safety studies; marine verification…
Rowan Companies has received two early termination notices this month, in addition to booking more work and selling one jackup. Image of a Rowan jackup, from Rowan. Cobalt International…
Paragon Offshore has won a short-term contact with Centrica for the B391 jackup, offshore the UK. The B391 will preform light well intervention work from late-October to late-November 2016 at a dayrate of US$53,000. Centrica and Paragon…
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