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Archive of industry news from the global offshore industry

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May 2016

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Bibby Offshore to provide subsea construction services to Apache’s North Sea oil field 27 May 2016 Subsea services provider Bibby Offshore has secured a contract to provide subsea construction, remotely operated underwater vehicles (ROV) and diving services to Apache’s oil field in the...

Deals this week: BlueJack Energy Solutions, Gibson Energy 27 May 2016 BlueJack Energy Solutions has announced that it has received an equity commitment note of up to $100m from Energy Spectrum Capital, through the latter’s Energy Spectrum Partners VII...

Gazprom starts Yamal oil shipments from Arctic oil loading terminal offshore Russia 27 May 2016 Gazprom has begun year-round shipments of Yamal oil from the Arctic Gate, an Arctic oil loading terminal located offshore northern...

M&As this week: RINA, Oilmax Energy 27 May 2016 RINA has signed a definitive agreement with Phoenix Equity Partners to acquire the latter’s subsidiary Edif Group Management for a consideration of £118.5m...

Report: Multi-million dollar contracts steer the EMEA region’s oil and gas industry in April 27 May 2016 Europe, the Middle East and Africa (EMEA) experienced great activity in the oil and gas contracts in April 2016, says a report by...

BP starts water injection project at Thunder Horse platform in US Gulf of Mexico 26 May 2016 BP has begun a water injection project at its Thunder Horse platform in the Mississippi Canyon, about 150 miles southeast of New Orleans,...

Shell to cut 2,200 more jobs from global workforce 26 May 2016 Royal Dutch Shell is reportedly planning to cut 2,200 more jobs from its global workforce by the end of this year, citing a plunge in oil...

Oil prices rise above $50 a barrel 26 May 2016 Brent oil prices have increased above $50 a barrel as worldwide supply worries showed signs of...

Doris, Sevan Marine test cylindrical hull for ultra-deepwater application in Gulf of Mexico 25 May 2016 US-based Doris and Norway’s Sevan Marine have performed research and model scale testing of the latter’s cylindrical hull for application in the ultra-deepwater in Gulf of...

JDR to provide services for Vashishta and S1 fields near India 25 May 2016 UK-based subsea power cable supplier JDR has been selected by GE Oil & Gas to provide services for ONGC's Vashishta and S1 fields off the east coast of...

Oil prices rise towards $50 a barrel due to shrinking supply 25 May 2016 Oil prices have increased to almost $50 a barrel, based on expectations that a global decrease in oil will reduce amounts of unwanted...

Wintershall Norge completes drilling of two wildcat wells in North Sea 24 May 2016 Wintershall Norge has completed drilling of two wildcat wells, 35/8-6 S and 35/8-6 A, that are located 5km northwest of Vega field in the North...

Oil prices drop due to growing production 24 May 2016 Prices of oil dropped for a fifth consecutive day due to growing production from major exporters and increased dollar...

DEA Norge secures two licences in Barents Sea 24 May 2016 The Norwegian Ministry of Petroleum and Energy has offered DEA Norge two new licences in the Barents Sea in the 23rd licensing...

Brent oil prices drop as Iran plans for no freeze in production 23 May 2016 Brent oil prices have dropped after Iran stated that it does not plan to freeze crude oil...

Israel approves revised Leviathan offshore natural gas development deal 23 May 2016 Israel has approved a revised deal that will speed up development of the Leviathan offshore natural gas...

Keppel, Rosneft and MHWirth establish new offshore design centre 23 May 2016 Keppel Offshore & Marine (Keppel O&M) has signed an agreement with Russian national oil company Rosneft, and Norway-based drilling equipment provider MHWirth to establish a Singapore...

Deals this week: BP, Petrobras 20 May 2016 BP PLC has completed the acquisition of an additional 16% interest in Culzean gas field in the UK Central North Sea, from JX Nippon Exploration and Production (UK) Limited (JXNEPU)....

Report: Falling production from Kumkol North field to impact Kazakhstan’s assets 20 May 2016 The continuing decline of Kazakhstan's Kumkol North asset highlights the current picture of the country's remaining marginal fields, as well as the fiscal stimulus associated with them,...

Technip and FMC Technologies agree to merge to create $13bn company 20 May 2016 French oil-services company Technip and US-based FMC Technologies have signed a memorandum of understanding (MoU) to combine and create a new company named TechnipFMC with a market value of $13bn....

Aibel and Reach Subsea agree to work on offshore oil and gas projects 20 May 2016 Norway-based companies Aibel and Reach Subsea have signed an agreement for joint projects within subsea oil and gas, rig repairs, and decommissioning of existing offshore structures...


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