Oilfield services provider Schlumberger on Tuesday said it will implement widespread salary and job cuts as it grapples with a sharp decline in revenue from the oil price collapse.Oil prices have plunged by more than 60% since the start of the year…
Global spending on oilfield equipment and services this year will fall 21% from 2019 to $211 billion, the lowest level since 2005, according to a report to be released on Wednesday by consultancy Spears & Associates, as oil and gas producers slash spending…
Dutch offshore equipment manufacturer Huisman has signed a contract with PaxOcean Engineering for the delivery of a 1,600mt Leg Encircling Crane. The crane will be installed on the new self-elevated platform (SEP) of Japanese company Penta-Ocean Construction…
Oily water separators (OWS) have been a common fixture of a ship’s machinery space for many decades. With the amount of experience, research and legislation that has gone into them, it would be easy to think that their use would almost be hassle free…
Well completions specialist Tendeka has secured a three-year contract with Mubadala Petroleum, to supply sand-face completion equipment in Thailand.Under the deal, Tendeka will supply sand screens and autonomous inflow control devices (AICD) to Mubadala Petroleum’s Jasmine…
Wind industry solutions provider FairWind has completed its largest electrical and high voltage project in company history, completing 59 transition pieces (TP’s) for client Bladt.The TP segments were assembled in Aalborg harbor in Denmark, to be installed at Borssele 1+2 offshore wind farm…
With the need to use and abandon the cable gripper for up to 20 days between cable recovery projects, hydraulic tools specialist Webtool has redesigned its Webtool CRT200 Cable Retrieval Tool for large diameter cable and longer subsea deployment in water up to 1…
Unique Group has signed an exclusive rental agreement with UK-based OTAQ Offshore to represent the latter’s technology and products across the Middle East, APAC and the Americas. The agreement will see Unique Group represent a number of industry-renowned technologies…
Schlumberger, the world's largest oilfield services company, on Tuesday said it would cut spending by 30% this year from last year's levels as the oil market has been roiled by the coronavirus outbreak and Saudi-Russia price war.The company…
Norway's Aker Solutions has entered a master agreement to provide umbilicals for Chevron-operated oil and gas fields in the US Gulf of Mexico. It has also won its first work under the agreement, to supply 24 kilometers (15 miles) of umbilicals for Chevron’s Anchor project…
More than 200 oilfield services companies might be forced to declare bankruptcy - most of them in Norway and the UK - due to the effects of the Covid-19 pandemic and its effect on oil prices.This is according to Norway-based energy intelligence firm Rystad Energy…
Dutch offshore equipment and service supplier KenzFigee has established a UK subsidiary KenzFigee (UK) Ltd. citing increasing demand for its services, and the need to position its services closer to its UK clients.'Following a growing demand…
UK-based marine equipment company Marine Components International (MCI) has won a new deal to supply A60 fire dampers for two new offshore support vessels (OSV) being built in Asia.This is the company's first export deal for fire dampers since…
Franco-American oil services firm TechnipFMC Plc is putting on hold plans to split itself into two due to turbulence in financial markets linked to the coronavirus outbreak, it said on Sunday.The group, created three years ago via the merger of Technip and FMC…
Offshore engineering company expects to reduce mission-readiness time by 30% and training times by 20% through high fidelity, real-time 3D simulations.Houston-based Oceaneering International Inc. is a global leader in the subsea engineering and applied technology field…
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