Subsea 7 has been awarded to new contracts for pipelay support vessels with Petrobras worth an estimated US$600 million. The contracts are for operation of the pipelay support vessels (PLSVs) Seven Mar and Seven Condor on a day rate basis for approximately three years…
Bourbon announced that it sold three vessels, including a tug, an MPSV (multipurpose supply vessel) from the Subsea Services fleet and a PSV (platform supply vessel), for an approximate total amount of US$38 million generating a total capital gain of approximately US$18 million…
W&T Offshore Inc. is set to acquire a portion of Callon Petroleum Operating Co.'s Gulf of Mexico acreage, the company announced on October 18, 2013. W&T will take a 15% working interest in the Medusa field (deepwater Mississippi Canyon blocks 538 and 582)…
Forces transforming the global energy industry are presenting both opportunities and challenges for Russia, according to senior government and industry figures at the World Energy Congress in Korea. Alexander Novak, Minister of Energy…
The first decommissioning relief deeds have been presented by new Economic Secretary to the Treasury Nicky Morgan to senior representatives from the oil and gas industry. The deeds will provide greater certainty over the tax relief companies…
The US Gulf of Mexico (GOM) has clearly returned to the spotlight as one of the hottest offshore regions in the world. The impact of Macondo appears to be in the past and the number of both drilling rigs and major production projects are increasing…
Kosmos Energy has entered into three farm-out agreements with BP plc covering three blocks in the Agadir Basin, offshore Morocco. Under the agreement, BP will pick up 30% non-operating interest in Essaouira, 26.325% in Foum Assaka, and 45% in Tarhazoute…
The Canadian province of British Columbia released a comprehensive study assessing current marine-spill preparedness and response capabilities on 10 October 2013. The study also outlines necessary improvements to achieve a world-class system to ensure B…
Over the past week, the government shutdown has steadily crept into more sectors of the oil and gas industry. The Energy Information Administration (EIA) shuttered today, sending a message to subscribers at 1 pm ET that it would furlough…
Statoil Gulf Services, the North American subsidiary of the Norway’s Statoil, has signed a lease for 581,000 square feet in CityWestPlace to serve as their North American headquarters. The company already 225,000 square feet in the complex…
Wood Mackenzie has predicted upstream investment in East Africa will reach US$7 billion by 2018. Martin Kelly, head of Sub Sahara Africa upstream research for Wood Mackenzie, told delegates at the East Africa Oil and Gas Conference today…
UK-based engineering firm Wood Group is to form a joint venture with Germany’s Siemens to provide integrated rotating equipment services. The JV will comprise the maintenance and power solutions businesses of Wood Group GTS (excluding its Rolls Wood Group…
Atwood Oceanics, Inc. has agreed to sell its standard jackup drilling unit, The Vicksburg, to Gulf Drilling International Ltd (Q.S.C.) for US$55.4 million. The sale is expected to close in early 2014 following the completion of the unit's contract with CEC International…
Two banks have joined Bank of Scotland to provide a £90 million funding package for oil and gas engineering group EnerMech. EnerMech said the addition of backing from Norwegian bank DNB and HSBC to that of its support from Bank of Scotland reflected its recent growth…
Life-saving equipment firm Viking has bought a major stake in IT startup Saatsea. The firm, which will be renamed Viking Saatsea, provides cloud-based onboard training and competence management systems to industry. It was set up…