News, views and contacts from the global Offshore industry

News Archive

Archive of industry news from the global offshore industry

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May 2016

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Schlumberger launches high-pull wireline conveyance system for oil and gas industry 04 May 2016 US-based oilfield services company Schlumberger has launched the MaxPull high-pull wireline conveyance system, which can be used in the oil and gas industry....

Lundin to acquire Statoil's 15% interest in Edvard Grieg field offshore Norway 04 May 2016 Lundin Petroleum has signed agreements to acquire Statoil Norway's entire 15% interest in the Edvard Grieg field in PL338 located offshore Norway....

Shell scraps $4.6bn FLNG contract with Samsung 03 May 2016 Shell has cancelled a $4.6bn contract with South Korean shipbuilder Samsung Heavy Industries for three floating LNG units for Australia's $40bn Browse floating liquefied natural gas (FLNG) project....

Oil prices rise as dollar plunges 03 May 2016 Oil prices have increased by more than 1% after the dollar slumped against Japan's yen, stimulating fuel demand....

Chevron to resume production from Australia’s $54bn Gorgon project 03 May 2016 Chevron is expecting to resume production from its $54bn Gorgon liquefied natural gas (LNG) project offshore Australia this month after recently being closed due to mechanical issues....

April 2016

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Deals this week: China Petrochemical Corp, Schlumberger Limited, Ocean Rig UDW 29 April 2016 China Petrochemical Corp through its subsidiary Sinopec Group Overseas Development (2016) Limited has announced a private placement to raise $1,000m....

McDermott completes Otis subsea tieback for LLOG Exploration Offshore in Gulf of Mexico 29 April 2016 McDermott International has completed installation scope related with the Otis development in the Gulf of Mexico on behalf of LLOG Exploration Offshore....

M&As this week: Suncor Energy, Seadrill, and EV 29 April 2016 Suncor Energy Inc is raising its stake in Syncrude project to 17% by acquiring an additional 5% interest in Syncrude Canada Ltd, a subsidiary of Murphy Oil Corporation....

Report: Pemex Exploracion y Produccion troubles add to fall in Mexico’s Costero field production 29 April 2016 Production from Mexico's Costero project has been on the slide since peaking in 2011, despite the field being an important asset of the Macuspana-Muspac region and accounting for 27% of the...

Oil prices rise 3% as dollar weakens 29 April 2016 There has been a 3% increase in oil prices after the dollar value weakened following the US Federal Reserve's announcement that interest rates would remain unchanged....

Eco Atlantic receives approvals for three licences offshore Namibia 28 April 2016 Eco (Atlantic) Oil & Gas has received approvals from the Namibia Ministry of Mines and Energy relating to the Cooper (PEL 030), Guy (PEL 034) and Sharon (PEL 033) licences in offshore Namibia....

Wood Group secures $500m contract with BP-operated projects, offshore Azerbaijan 28 April 2016 Wood Group has secured a $500m contract with BP-operated projects to deliver services to eight offshore platforms off the coast of Azerbaijan....

Oil prices pull back as traders secure profits 28 April 2016 Crude oil prices have dropped after traders locked-in profits following April's earlier rises....

Oil prices gain due to weak dollar 27 April 2016 There has been a rise in oil prices primarily due to a weak dollar and fall in US supply....

Mubadala drills two development wells at Manora oilfield in Gulf of Thailand 27 April 2016 Abu Dhabi-based Mubadala Petroleum has completed drilling of the MNA-15 and MNA-16 development wells at the Manora oilfield in the Northern Gulf of Thailand....

Aker Solutions and ABB to team-up on subsea oil and gas solutions 27 April 2016 Norway-based Aker Solutions and Swiss company ABB are set to collaborate to help improve industrial efficiency in subsea oil and gas production worldwide....

Shell to close BG Group offices in UK by year-end 26 April 2016 Shell has announced plans to close offices of its acquired BG Group in the UK by the end of this year as part of its voluntary redundancy...

Ocean Rig acquires ultra deepwater drillship Cerrado 26 April 2016 Cyprus-based offshore drilling contractor Ocean Rig's subsidiary has acquired the sixth-generation ultra deepwater drillship Cerrado for $65m....

Crude oil prices dip as Saudi Arabia and Iran increase production 26 April 2016 Crude oil prices have dropped due to Saudi Arabia and Iran both increasing output....

BSEE and University of Alaska in US complete offshore research study 25 April 2016 The US Bureau of Safety and Environmental Enforcement (BSEE) has completed a study that examined the ability of existing offshore structural designs to survive sea ice demands under extreme...

Oil prices drop after traders cash-in recent rises 25 April 2016 Oil prices have fallen after traders cashed-in following three weeks of rises, with a strong dollar late last week also contributing....


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