Paragon Offshore and its lenders have entered into an agreement to revise the company's restructuring plan in hopes to emerge from its bankruptcy process later this year in October. The Paragon MSS1…
Royal IHC has appointed Dave Vander Heyde as its new CEO effective 1 September, as the current CEO, Bram Roelse steps down from the role on the same day. Heyde has been CFO at IHC since 2011. Accustomed to the challenges the company is facing…
Italian giant Eni has gained operatorship of frontier exploration licence (FEL) 3/04 in the southern Porcupine Basin after supermajor ExxonMobil elected to withdraw from the license, according to partner Providence Resources. Following ExxonMobil’s withdraw…
In this video from Det norske oljeselskap, the company shows a time-lapse of the topside installation on Ivar Aasen on the Norwegian Continental Shelf. The 15,000-tonne topside, which was installed late last month, has now been installed on the jacket…
Marine energy is a sector which has faced its fair share of ups and downs. That said, there remains much to be positive about in both wave and tidal energy in Scotland. Both industries have taken enormous strides forward in the last 12 months…
Russia’s Lukoil is moving the jackets for the offshore ice-resistant stationary platform #2 from the port of Astrakhan to the Filanovsky field in the Caspian Sea. The platform is intended for drilling and operation of wells within the second stage of field development…
Sterling Energy subsidiary Sterling Cameroon Ltd. has issued a notice of surrender in relation to the Ntem Concession, offshore Cameroon, effective by the end of December 2016. The company does not expect to incur any material costs associated with the surrender…
Ithaca Energy's floating production unit, the FPF-1, has set sail for the Stella field in the North Sea after completing final marine systems trials. First oil from the Greater Stella Area development is expected in about three months later…
Abu Dhabi-based Gulf Marine Services has won a new contract award for one of its mid-size class vessels. The contract, scheduled to start immediately, is for 12 months including options, with the vessel supporting a Middle East/North Africa (MENA)-based national oil company…
PJ Valves (PJV), a valves manufacturer and supplier, has been awarded more than US$1.3 million (£1 million) worth of contracts to supply over 1000 valves to Maersk Oil’s Culzean field in the UK North Sea. PJV will manufacture forged…
Gloucestershire-based Arc Energy Resources, the weld overlay cladding and fabrication company, has acquired precision machining company CLG Engineering, based in Stonehouse, Gloucestershire. Arc Energy Resources provides corrosion-resistant weld overlay cladding services…
Cost reduction measures continue at Fugro, as the company plans to further reduce its workforce and fleet in the remainder of 2016. Image from Fugro. During 1H 2016, Fugro cut its headcount by 585…
TGS and Schlumberger have started the Dual Coil Shooting multivessel full-azimuth acquisition Revolution XII and XIII surveys in the US Gulf of Mexico. The surveys will cover about 7150sq km (306 blocks) in the Green Canyon, Atwater Valley…
Norway's Det norske's exploration well on the Rovarkula prospect in the Norwegian sector of the central North Sea is dry, says the Norwegian Petroleum Directorate. The 25/10-15 S wildcat well was drilled using the Maersk Interceptor jackup…
Eni is to plug and abandon its Aurelia wildcat exploration well in the Barents Sea after poor drilling results. The well, 7222/1-1, was the first exploration well in production license 226, awarded in 1997. It was drilled about 80km…
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