New News information at Offshore Technology New and updated information from News listed on www.offshore-technology.com http://www.offshore-technology.com/ en-us http://www.offshore-technology.com/ New News information at Offshore Technology http://www.offshore-technology.com/content/images/logo_big.gif Deals this week: Borr Drilling, Hyperdynamics, JDR http://www.offshore-technology.com/news/newsdeals-this-week-borr-drilling-hyperdynamics-jdr-5770845 http://www.offshore-technology.com/news/newsdeals-this-week-borr-drilling-hyperdynamics-jdr-5770845 Borr Drilling Limited has signed a letter of intent with Transocean Ltd to acquire 15 shallow water jack-up drilling rigs. Fri, 24 Mar 2017 00:00:00 GMT OGA awards 25 offshore licences to 17 companies in UKCS http://www.offshore-technology.com/news/newsoga-awards-25-offshore-licences-to-17-companies-in-ukcs-5770193 http://www.offshore-technology.com/news/newsoga-awards-25-offshore-licences-to-17-companies-in-ukcs-5770193 The Oil and Gas Authority (OGA) has awarded 25 licences for 111 blocks or part blocks to 17 companies in the 29th Offshore Licensing Round, enabling further exploration and production across frontier areas of the UK Continental Shelf (UKCS). Fri, 24 Mar 2017 00:00:00 GMT Eni gains majority stakes in two new blocks in offshore Ivory Coast http://www.offshore-technology.com/news/newseni-receives-majority-stake-in-two-new-blocks-located-in-offshore-ivory-coast-5770183 http://www.offshore-technology.com/news/newseni-receives-majority-stake-in-two-new-blocks-located-in-offshore-ivory-coast-5770183 Eni has secured majority stakes in two new exploration blocks located approximately 50km from the coastline of the Ivory Coast. Fri, 24 Mar 2017 00:00:00 GMT Statoil and partners award FEED contracts for Phase 2 development of Johan Sverdrup http://www.offshore-technology.com/news/newsstatoil-advances-with-johan-sverdrup-phase-2-development-5769123 http://www.offshore-technology.com/news/newsstatoil-advances-with-johan-sverdrup-phase-2-development-5769123 Statoil and its partners have awarded FEED contracts to Aker Solutions, Kværner and Siemens for the Phase 2 development of Johan Sverdrup field in the North Sea. Thu, 23 Mar 2017 00:00:00 GMT Oil prices recover from four-month low after dropping from US stock rise http://www.offshore-technology.com/news/newsoil-prices-recover-from-a-four-month-low-after-sliding-down-due-to-us-stock-rise-5770004 http://www.offshore-technology.com/news/newsoil-prices-recover-from-a-four-month-low-after-sliding-down-due-to-us-stock-rise-5770004 Oil prices are slowly recovering from a four-month low after the US reported a substantial increase in stocks that concerned investors about the effectiveness of OPEC-led output cuts. Thu, 23 Mar 2017 00:00:00 GMT JDR and Proserv form alliance for West African offshore operations http://www.offshore-technology.com/news/newsjdr-and-proserv-form-alliance-for-west-africa-offshore-operations-5769099 http://www.offshore-technology.com/news/newsjdr-and-proserv-form-alliance-for-west-africa-offshore-operations-5769099 Subsea cables and umbilicals supplier JDR is to expand its presence in West Africa after entering a partnership agreement with Proserv Instrumentation Nigeria. Thu, 23 Mar 2017 00:00:00 GMT Oil prices slip as US crude production surges http://www.offshore-technology.com/news/newsoil-price-slips-as-us-crude-surges-again-5768859 http://www.offshore-technology.com/news/newsoil-price-slips-as-us-crude-surges-again-5768859 Oil prices have dropped amid reports of another increase in US crude stocks that triggered concerns among investors over the ongoing global oversupply. Wed, 22 Mar 2017 00:00:00 GMT Borr Drilling to buy Transocean's 15 jack-up rigs for $1.35bn http://www.offshore-technology.com/news/newsborr-drilling-to-acquire-15-transocean-jack-up-rigs-for-135bn-5768085 http://www.offshore-technology.com/news/newsborr-drilling-to-acquire-15-transocean-jack-up-rigs-for-135bn-5768085 Borr Drilling has signed a letter of intent with Transocean to acquire 15 high-specification jack-up rigs for approximately $1.35bn. Wed, 22 Mar 2017 00:00:00 GMT Subsea 7 wins Mad Dog contract in Gulf of Mexico http://www.offshore-technology.com/news/newssubsea-7-wins-mad-dog-contract-in-gulf-of-mexico-5768096 http://www.offshore-technology.com/news/newssubsea-7-wins-mad-dog-contract-in-gulf-of-mexico-5768096 Subsea 7 has secured a contract from BP as a part of the deepwater Mad Dog 2 development nearly 190 miles from New Orleans in the Gulf of Mexico. Wed, 22 Mar 2017 00:00:00 GMT L&T Hydrocarbon secures $245m offshore contract from ONGC http://www.offshore-technology.com/news/newslt-hydrocarbon-receives-245m-offshore-contract-from-ongc-5767041 http://www.offshore-technology.com/news/newslt-hydrocarbon-receives-245m-offshore-contract-from-ongc-5767041 Larsen & Toubro subsidiary L&T Hydrocarbon Engineering (LTHE) has received a $245m offshore contract from Oil & Natural Gas Corporation (ONGC) to redevelop Neelam field and B173AC Project. Tue, 21 Mar 2017 00:00:00 GMT OGA joins TNO to explore oil potential in southern North Sea http://www.offshore-technology.com/news/newsoga-joins-tno-to-explore-southern-north-sea-oil-potentiality-5767049 http://www.offshore-technology.com/news/newsoga-joins-tno-to-explore-southern-north-sea-oil-potentiality-5767049 The Oil and Gas Authority (OGA) has joined the Netherlands Organisation for Applied Scientific Research (TNO) on Hypo-Lias exploration campaign in the southern North Sea to identify hydrocarbon potential of Jurassic rock formations. Tue, 21 Mar 2017 00:00:00 GMT Oil prices increase over hopes of OPEC-output cut extension beyond June http://www.offshore-technology.com/news/newsoil-prices-increase-over-hopes-of-opec-output-cut-extension-beyond-june-5767919 http://www.offshore-technology.com/news/newsoil-prices-increase-over-hopes-of-opec-output-cut-extension-beyond-june-5767919 Oil prices have risen after plummeting to a three-month low last week fuelled by expectations that OPEC may extend output-cuts beyond June this year. Tue, 21 Mar 2017 00:00:00 GMT Second jacket structure for Shah Denizstage 2 platforms sets sail http://www.offshore-technology.com/news/newssecond-shah-deniz-2-platform-sets-sail-5766023 http://www.offshore-technology.com/news/newssecond-shah-deniz-2-platform-sets-sail-5766023 A BP-led consortium, in charge of Shah Deniz field development, has announced the sailing of the second jacket for the Shah Deniz Stage 2 platforms, ahead of its schedule. Mon, 20 Mar 2017 00:00:00 GMT Oil prices plummet amidst increasing US drilling activity and steady OPEC supply http://www.offshore-technology.com/news/newsoil-prices-plummet-amidst-increasing-us-drilling-activity-and-steady-opec-supply-5766902 http://www.offshore-technology.com/news/newsoil-prices-plummet-amidst-increasing-us-drilling-activity-and-steady-opec-supply-5766902 Oil prices slipped succumbing to rising US drilling activity and a steady supply from OPEC countries despite production cut deal. Mon, 20 Mar 2017 00:00:00 GMT Statoil contracts Kværner for upgrade of Njord A platform in Norwegian Sea http://www.offshore-technology.com/news/newsstatoil-awards-njord-epc-contract-to-kvrner-5766031 http://www.offshore-technology.com/news/newsstatoil-awards-njord-epc-contract-to-kvrner-5766031 Statoil has awarded an engineering, procurement, construction (EPC) contract, worth NOK5bn ($0.59bn), to Kværnerfor the upgrade of the Njord A platform, which is located in the Norwegian Sea. Mon, 20 Mar 2017 00:00:00 GMT CGG completes Carabao regional multi-client study in offshore Philippines http://www.offshore-technology.com/news/newscgg-completes-carabao-regional-multi-client-study-offshore-philippines-5765125 http://www.offshore-technology.com/news/newscgg-completes-carabao-regional-multi-client-study-offshore-philippines-5765125 CGG has completed gathering the final geoscience data for its Carabao multi-client study in the offshore Philippines region. Fri, 17 Mar 2017 00:00:00 GMT Total begins production from Congo's Moho Nord deep offshore project http://www.offshore-technology.com/news/newstotal-starts-production-from-moho-nord-offshore-project-in-congo-5763659 http://www.offshore-technology.com/news/newstotal-starts-production-from-moho-nord-offshore-project-in-congo-5763659 Total has started production from the Moho Nord deep offshore project 75km offshore from Pointe-Noire, Republic of the Congo. Fri, 17 Mar 2017 00:00:00 GMT Deals this week: Cobalt International Energy, Atlantic Petroleum, ExxonMobil http://www.offshore-technology.com/news/newsdeals-this-week-cobalt-international-energy-atlantic-petroleum-exxonmobil-5765416 http://www.offshore-technology.com/news/newsdeals-this-week-cobalt-international-energy-atlantic-petroleum-exxonmobil-5765416 Cobalt International Energy Inc plans to sell its 20% working interest in the Shenandoah deepwater oilfield in the US Gulf of Mexico. Fri, 17 Mar 2017 00:00:00 GMT Oil price continues to rise as US crude inventories dip http://www.offshore-technology.com/news/newscrude-price-continues-to-rise-as-us-stocks-diminish-5764688 http://www.offshore-technology.com/news/newscrude-price-continues-to-rise-as-us-stocks-diminish-5764688 Oil prices have risen for the second day as US data showed a fall in crude inventories after it had soared for nine consecutive weeks. Thu, 16 Mar 2017 17:19:00 GMT EIU expects US crude output to increase by 2.8% this year http://www.offshore-technology.com/news/newseiu-expects-us-crude-output-to-increase-by-28-this-year-5764554 http://www.offshore-technology.com/news/newseiu-expects-us-crude-output-to-increase-by-28-this-year-5764554 OPEC members' commitment to the production cut deal agreed late last year has caused a rise in US crude production that is expected to reach 2.8% this year, according to Economist Intelligence Unit (EIU). Thu, 16 Mar 2017 00:00:00 GMT