Petroceltic has opted to exit stakes in Greece and Egypt, following an announcement by the company's board that it has initiated a formal strategtic review of its business and assets due to breaching debt repayment obligations. In the 23 December announcement…
Shell has terminated the contract for the Polar Pioneer, a harsh environment semisubmersible drilling rig, announced rig owner Transocean on 28 December. The rig was famously used this summer in Shell's Arctic campaign in the Chukchi Sea…
Bad weather has delayed first oil from Premier Oil's Solan project, in the West of Shetland area, until January, the firm announced on 23 December. Premier Oil stated in its operations announcement that further progress has been made…
Det norske oljeselskap has completed its agreement to acquire Premier Oil Norway. The merger, previously announced on 16 November, comprises all Premier Oil plc’s Norwegian assets for a net consideration of US$120 million on a cash free, debt basis…
Lundin Petroleum has discovered oil at the Rolvsnes exploration well 16/1-25 S in PL338C, in the central North Sea sector of the Norwegian Continental Shelf (NCS), the company confirmed on 22 December. Lundin said the well encountered a 30m gross oil column in porous granitic basement…
Norwegian Energy Co. (Noreco) subsidiary Noreco Norway entered into a sale and purchase agreement (SPA) with Djerv Energi for the sale of its exploration license interests, organization and management systems. The owners of Djerv will be a US-based investment fund (70%) and Noreco (30%)…
North Energy acquired Explora Petroleum for a cash payment of US$2.5 million deal. The transaction is being implemented through the purchase of all the shares in Explora from the company's shareholders, who comprise certain employees and individual shareholders…
DOF Subsea inked US$30.8 million (NOK 270 million) in IMR and subsea installation contracts in the Asia Pacific and Atlantic regions that will use the company’s subsea project fleet. Skandi Hercules…
A major study is underway to identify new processes and technologies that can be applied to asset integrity challenges in the UK offshore oil and gas industry. Lockheed Martin has been commissioned to conduct a technology landscaping…
UTEC NCS Survey, part of UTEC (an Acteon company), has announced the award of a multi-year rig move and positioning framework contract with Total. Total recently awarded the three-year contract with the opportunity to provide positioning…
Atlantis Resources and ScottishPower Renewables (SPR) are teaming up to develop a joint portfolio of projects for the growing tidal sector, announced Atlantis. Atlantis’s Scottish project development vehicle, Tidal Power Scotland Limited (TPSL)…
Shipping and offshore specialist law firm Wikborg Rein says current low oil prices could mean there are bargains to be had for investors in the offshore sector who follow recommended procedures for assessing and acquiring distressed companies…
Following the participation in front-end engineering and development (FEED) work over past several months, Sevan Marine has announced that it has signed two agreements related to the FPSO prospects in the UK North Sea. The first agreement…
Polarcus has received a letter of intent from Maersk Oil on behalf of the Danish Underground Consortium (DUC) for a 4D marine seismic survey offshore Denmark. The project is due to commence in Q2 2016 and will run for approximately three months…
Orkney based Scotrenewables Tidal Power (SRTP) has secured a further £5.7 million from investors to allow it to demonstrate the world’s largest tidal turbine. The company is currently nearing the completion of the build of its SR2000 (2MW) system in the Harland & Wolff shipyard in Belfast…
Subscribe
