Confidence in North Sea oil and gas activity has fallen to a six-year low, highlighting an 'urgent need' for fiscal reform in the basin, according to a report published today (25 November). Aberdeen & Grampian Chamber of Commerce's (AGCC) report…
Norwegian Energy Company (Noreco) has installed a new CEO and CFO as it looks to stablize its financial position and following the departure of CEO Svein Arild Killinland. Tommy Sundt, the firm's CFO, takes over from Killingland. Odd Arne Slettebø will replace Sundt as CFO…
Italy-focused independent exploration and production firm Sound Oil is planning to launch a takeover of fellow independent Antrim Energy by making an offer for all Antrim's listed shares. The move, which values Calgary-headquartered Antrim's issued share capital at £6…
With nearly 40% of today’s oil production coming from mature fields and this figure set to rise according to the Wood Report, maximizing recovery is high on the agenda of oil and gas operators. There is a significant portion of brown…
Logan Oil Tools, a wholly owned subsidiary of Logan International, has purchased certain assets from Smith International. The assets include inventory, the rights to manufacture and sell HE fishing tools and certain intellectual property…
The board of directors for Mexico’s Petroleos Mexicanos (Pemex) approved a corporate restructuring plan that would see the company reorganize into two main units and five smaller subsidiaries. The national oil company said that the plan was…
BP awarded a US$200 million contract to Bredero Shaw's pipe coating division for the Shah Deniz Stage 2 development project. The contract is scheduled to be executed at the Caspian Pipe Coatings (CPC) plant in Baku, Azerbaijan. The contract…
Gulf Marine Services has been awarded a contract extension for one of its Large Class vessels in the southern North Sea. The extension is for a self-propelled, self-elevating, support vessel, that has been chartered to an international oil company (IOC) since Q3 2012…
Houston-based Paragon Offshore has launched a bid to take over Prospector Offshore Drilling by buying 55.8% of the Oslo stock market-listed drilling firm's stock. Paragon, which spun out of Noble Corporation in August this year, said…
Baker Hughes and Halliburton are in ‘preliminary discussions’ in regards to a possible merger between the two oil services providers, Baker Hughes confirmed on 14 November. “These discussions may or may not lead to any transaction. Baker…
Technip is investing more than US$84.7 million and more than four years to modernize its flexible pipe manufacturing plant, Flexi France, in Le Trait, France. This plan focuses on the installation of new-generation machines and site optimization to fit 12m diameter reels…
GE opened its US$500 million Brazil Technology Center in Rio de Janeiro. The research hub will focus on developing advanced technologies for offshore oil and gas exploration and production. The center, GE’s first in Latin America…
Deepwater Wind awarded Gulf Island Fabrication, Inc. a contract for the fabrication of five jacket/piles for the Block Island Wind Farm off the coast of Rhode Island. The Block Island Wind Farm is a shallow water wind turbine project…
National Drilling Company (NDC), Abu Dhabi, awarded Lamprell a US$365 million contract for the construction and delivery of two high specification jackup drilling rigs of a Super 116E (enhanced) class. Under the contract terms, NDC has…
Emerson has acquired the Paine Electronics business from Paine Electronics, LLC, which will become part of Emerson Process Management. Paine Electronics, a leading manufacturer of pressure transducers, is recognized worldwide for its pressure…