In June 2013, Malaysia's Yinson Holdings Berhad made a conditional offer to acquire Norway's Fred. Olsen Production ASA ('FOP') for NOK995.74 million (US$172.1 million), or NOK 9.40/share that was approved by the FOP board. On 4 July 2013…
ALS entered into an agreement to acquire Reservoir Group for US $533 million (9.6 x Reservoir's FY2013 EBITDA). The transaction follows extensive due diligence undertaken by ALS on Reservoir as a part of an exclusive sale process. Reservoir…
Upstream oil and gas investment on the UK Continental Shelf (UKCS) reached a record £13.5 billion this year, according to a new study. But, despite the high spending, production efficiency continues to be an issue in the North Sea, says Oil & Gas UK’s 2013 Economic Report…
Vince Cable, MP, secretary of state for business, innovation and skills (BIS) is to speak at SPE Offshore Europe 2013 at one of the conference’s keynote sessions. The session, The technology imperative – collaborating today to realise the next 50 years of North Sea potential…
Dutch international coating contractor Venko, which specialises in fabric maintenance, has set up its first UK base in the Great Yarmouth and Lowestoft (New Anglia) Enterprise Zone. The company was attracted by the incentives offered…
Total E&P UK has awarded Ocean Installer a contract for the recovery of casing at the Tomintoul location, west of the Shetland Islands. The scope of the work involves the cutting and recovery of 472m of 20in. downhole casing from the seabed…
KrisEnergy Ltd., an independent upstream oil and gas company, agreed the final investment decision for the Nong Yao oil development in the G11/48 contract area in the Gulf of Thailand, along with Mubadala Petroleum. First oil is anticipated in 1H 2015…
Duma Energy Corp. signed a Letter of Intent to acquire 100% of the outstanding stock of Houston-based Hydrocarb Corp. In August 2012, Duma purchased a 39% working interest in Hydrocarb’s highly prospective 5.3 million-acre Owambo Basin concession in northern Namibia…
NADL and Seadrill announced a preliminary agreement to create a strategic partnership with a strong industrial player was reached to foster growth of the company's harsh environment business. The potential strategic partner has a strong foothold in the Russian market…
Senior representatives of the UK and Scottish governments will address the audience at Europe’s largest oil and gas conference and exhibition, SPE Offshore Europe 2013, in Aberdeen this September. More than 1,500 companies are exhibiting at the event…
The Jan De Nul Group has ordered a new vessel at the Uljanik Shipyard in Pula, Croatia. The vessel, which will be 138m-long with a deadweight of 10,500-tonne, will be a multipurpose vessel, able to carry out trenching and offshore support…
Heerema Fabrication Group’s Vlissingen fabrication yard has completed the fabrication of two jackets for the Golden Eagle Development project of Nexen Petroleum UK Ltd. With the departure of Nexen’s 6,400-ton PUQ (Production Utilities…
Eni S.p.A. CEO Paolo Scaroni and Eni E&P COO Claudio Descalzi met with Mozambique President Armando Guebuza today in Changara, the mineral district of Tete province in western Mozambique, to discuss Eni’s ongoing activities and projects in the country…
NEL has invested US $386,666 in a new erosive flow center at its Glasgow base. The facility is the first in the UK to offer the complete range of erosive flow services, including flow testing, Computational Fluid Dynamics (CFD), operation and performance assessment…
Trinity Exploration & Production plc, an independent focused on Trinidad and Tobago, issued an update today on its upcoming exploration program. Trinity plans to spud two offshore exploration wells in 4Q 2013, one on the west coast (El…