Norway-based geoscience firm TGS has agreed to buy seismic firm Polarcus' multiclient library, excluding Australia, for US$ 27.5 million and future share on library late sales. The move was described as enabling Polarcus to 'navigate the current challenging market environment…
Kazakh state-owned KazMunayGas (KMG) and Italian giant Eni finalized commercial terms to move 50% of the suboil use rights of the Isatay block in the Caspian Sea to Eni. Image from Eni. Isatay…
Norwegian oil firm has marked the start of construction work on the Johan Sverdrup development project - labelled the biggest industrial project in Norway for decades to come. Work started at Kværner in Verdal, Norway, today (Monday 29…
Speaking this week as the 2015 recipient of the Energy Institute (EI)'s Cadman Award, Malcolm Brinded, chairman of Shell Foundation, has called for increased focus on breakthrough technology and business innovations to respond to the challenges of international development…
German navigation system manufacturer Raytheon Anschütz announced new contracts for the delivery of Synapsis Integrated Navigation Systems (INS) to five 14,500TEU container vessels built at Hudong-Zhonghua Shipbuilding Co.. The new…
Odfjell Drilling awarded Aibel the yard stay contract for the rig Deepsea Bergen. The rig will arrive at Aibel's yard in Haugesund early autumn 2015. During the stay of approximately one month, Aibel will be performing various tasks in connection with special periodic survey…
The Petroleum Safety Authority Norway (PSA) has given Statoil consent to use the Scarabeo 5 mobile drilling facility for drilling and completing well 7121/4-G-4 H located at Snøhvit field. Scarabeo 5 is a type ME 4500 mobile drilling…
Independent Oil and Gas (IOG) is extending its seismic remapping agreement with Baker Hughes’ Reservoir Development Services (RDS) group to better understand resource potential for its Blythe and Cronx/Elgood projects in the Southern North Sea (SNS)…
Fossil Oil is planning a new drilling project named Fossil-North Eagle Bay Offshore JV – I – 2015 offshore Texas. The project involves directionally drilling a lower risk offshore prospect in 12ft of water to a depth of 14,800ft to potentially…
L&T Hydrocarbon Engineering (LTHE), a wholly owned subsidiary of Larsen & Toubro (L&T), has won an offshore contract for the Bassein Development Project from the Oil and Natural Gas Corp. (ONGC) valued at US$427 million (2715 crores). The contract encompasses total engineering…
Red Emperor Resources is raising US$4.4 million (AU$5.76 million) for its upcoming drilling a appraisal program offshore the Philippines. The Maersk Venturer. From Maersk. The activity will take place in the deepwater Block SC55…
Statoil will make adjustments to the company’s structure and operating model to become a more “cost- efficient and fit-for-the-future” organization, it reports. The changes are part of the ongoing Statoil Technical Efficiency Program (STEP) and Organizational Efficiency (OE) programs…
Staatsolie and Apache Corp. have signed a production sharing contract (PSC) for exploration, development and production of offshore Block 58 offshore Suriname. The agreement, with a 30-year validity, is divided into exploration, development and production phases…
Siemens has celebrated the official christenings of the offshore wind industry’s first, purpose-built service operation vessels (SOV). The christening events took place in cooperation with Esvagt, owner of the two vessels, in Rostock, Germany…
Lundin Norway commenced the drilling of its second Alta appraisal well in the Barents Sea South, and the drilling of an appraisal well on the Edvard Grieg field in the Norwegian North Sea. Drilling has also commenced on the partner-operated…
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