Oil exploration in the Bahamas has taken a step forward after a new Petroleum Act and regulations to guide and govern oil exploration in was placed before the Parliament of The Bahamas. The draft legislation is now likely to go through…
Dubai-based rig builder Lamprell has completed the jackup drilling rig, the Shuwehat for Abu Dhabi’s National Drilling Company (NDC) on time, budget and schedule. The delivery to NDC follows a 12 November announcement of a new contract with the firm…
Nexans has provided to BP the first delivery in what will be the world's largest and most complex direct electrical heating (DEH) system to date, says supplier Nexans. The French firm is supplying a comprehensive subsea DEH system solution…
The UK Government's Department for Energy and Climate Change has launched £2.5 million funding to encourage development of CO2 storage in the North Sea. The cash will help companies identify sites under the sea to store the CO2 emissions from coal and gas power stations…
Rodi Marine Service signed a contract with Swiftships to build two additional 175 Foot DP-2 fast supply vessels (FSVs). The two additional vessels will be an extension of the two-boat order made by Rodi Marine in 2013. The Riley Claire…
ExxonMobil signed a production sharing agreement (PSA) with the Cote d'Ivoire governmentfor two ultra deepwater blocks in the Gulf of Guinea. The PSA is for the Blocks CI-602 and CI-603 located in the southern Ivory Coast. CI-602 covers 3874sq km and CI-603 covers 5543sq km…
GE has agreed to acquire the Subsea Electric Actuator product line of Oceaneering, a global provider of engineering services and products to the oil and gas industry. The product line goes to market under the Oceaneering Subsea All Electric and Ifokus brand…
Wärtsilä is acquiring L-3 Marine Systems International (L-3 MSI) from L-3 Communications Holdings in a US$353 million deal. L-3 MSI is a business sector within L-3's Electronic Systems business segment primarily focused on the commercial ship industry…
Alphastrut completed a seven-figure contract with BP for its Clair Ridge project. Image from BP. The Alphastrut aluminium system was successfully installed on the BP Clair Ridge accommodation module…
Peak Well Systems (Peak) commissioned two new ISO test facilities in Perth (Western Australia) and Aberdeen (UK). The new facilities provide a controlled environment in which to test downhole plug systems under extreme conditions for prolonged periods of time…
Chevron’s subsidiary Star Deep Water Petroleum awarded FMC Technologies a US$268 million contract to provide subsea equipment for operations for the Agbami field’s Phase 3, offshore Nigeria. The Agbami FPSO…
Freeport-McMoRan Oil & Gas and partner Pura Vida Energy are planning to drill an up to US$136 million well offshore Morocco targeting 'well over' 1.4-3 billion barrels total gross mean resources. The well, Mazagan-1 (MX-1), which contains the Ouanoukrim prospect…
Norway-based ship builder Vard is to design and build a new offshore subsea construction vessel for fellow-Norwegian firm Farstad Shipping. The 98m-long, 21.5m-beam vessel will be of VARD 3 17 design has been developed especially for subsea and inspection…
ExxonMobil's subsidiary Esso Australia has started a five-well drilling campaign at the Turrum field as part of its ongoing investment in Bass Strait to develop new gas supplies. The AU$335 million investment in drilling four gas wells and one oil well follows the start-up of the $4…
SBM Offshore CEO Bruno Chabas has said the firm is well positioned to weather the current down-turn in oil prices thanks to 90% of its backlog consisting of lease and operate income with dayrates not dependent on oil prices or production levels…
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