Hess Corp. posted a US$4.9 billion net loss in Q4, as the company moves forward to focus on its developments offshore Thailand and in the Gulf of Mexico, which are expected to contribute significant production and cash flow. The…
Vaalco Energy reported strong Q4 and full year 2016 production results. Image from Vaalco. Production for Q4 2016 averaged approximately boe/d, above the previously provided guidance range of 3300-3600 boe/d…
With UK subsea exports valued at almost US$6.31 billion (£5 billion), Subsea UK is encouraging British firms to set their sights on international expansion to sustain long-term growth. The industry body is urging companies to strengthen trade partnerships across the globe…
UK-based MFDevCo, or Marginal Field Development Co., has agreed a collaboration deal with Singapore-based jackup drilling rig operator CDPL, a subsidiary of China Offshore Services Ltd. (COSL). The move will see MFDevCO use CPDL on a 'one stop shop' basis…
French oil major Total has awarded Prosafe a contract for the use of the Safe Caledonia semisubmersible accommodation vessel at the Elgin-Franklin Facility in the UK sector of the North Sea. The contract is for 134 days, with an additional…
Partners on the Etinde permit offshore Cameroon are now considering offtake to existing facilities in Equatorial Guinea as a new possible solution. The project, operated by New Age, and which is taking much longer than planned to develop…
DNV GL’s 2017 outlook for the oil and gas industry has revealed short-term agility and long-term resilience, with an overall stabilization of confidence in some regions, despite depressed and prolonged oil and gas prices. Image of Tørstad…
BP is forecasting that renewables will become the fastest growing fuel source by 2035, nearly quadrupling over the next 20 years, according to the UK oil giant’s latest Energy Outlook. Image from BP…
The Secretary General of the Organization of the Petroleum Exporting Countries (OPEC), H.E. Mohammad Sanusi Barkindo, will deliver remarks to delegates during CERAWeek 2017, 6-10 March at the Hilton Americas—Houston. Barkindo will appear…
Dynamic Industries Saudi Arabia (Dynamic Saudi Arabia), headquartered in Al-Khobar KSA, and Houston-headquartered Dynamic Industries International (Dynamic International), have been awarded a major offshore project under their long-term agreement with Saudi Aramco…
Gazprom Neft subsidiary, Gazpromneft Sakhalin, has acquired a license for the exploration, development and production of hydrocarbons at the Ayashsky block, on the continental shelf of the Sea of Okhotsk. Map of the Ayashsky block…
Java Offshore has gained a majority stake in Asian Geos Sdn Bhd, a specialist offshore geotechnical and geophysical service provider within the Asia Pacific market from both Gardline Geosciences and Helms Geomarine Sdn Bhd in a recent acquisition deal…
McDermott International announced a double win in the Middle East today (25 January), including a contract for the largest offshore oil field in the world. Its first “substantial contract,” from Saudi Aramco, is for engineering, procurement…
Global science-based technology company, 3M has completed a global oil and gas industry first by deploying its Ceramic Sand Screens using a light well intervention vessel instead of a full rig. The North Sea contract was the first time…
Norwegian geoscience firm Spectrum has made an offer to acquire fellow Norwegian outfit MultiClient Geophysical for US$13.94 million (NOK 116 million). The offer trumps an earlier offer made by UK-based geoscience firm Geoex by about…
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