UAE-based Topaz Energy & Marine has signed phase one of a US$ 330 million loan agreement with a syndicate of banks towards the refinancing of some of its existing loans. As well as extra liquidity, the deal paves the way for new investments in Topaz’s offshore support vessel operations.
Valle Silencioso, a company managed by Sophia Capital, now has a 95.8% stock holding in pipeline coatings and subsea thermal insulation specialist Socotherm following the acquisition of 50% of the outstanding shares of SO-4 Ltd from 4D Global Energy Investment…
Newly acquired West Engineering Services joined the Lloyd’s Register stable on 1 May in a move the class society believes will secure its position as the premier independent risk-management organisation supporting the global offshore drilling industry…
Despite competition from ultrasonic, Coriolis, and other new-technology flowmeters, turbine flowmeters remain a viable and popular choice for a variety of applications, according to a new report by Wakefield, Massachusetts based Flow Research…
OE's analysis of current rig market data is updated monthly using statistics provided by Rigzone.comUtilization for the competitive fleet of mobile offshore drilling units worldwide has been gradually improving since February and is currently in the mid-80% range…
Total spending for upstream oil & gas will hit nearly $1.3 trillion this year, led by a robust North American market, according to a new report by IHS.Driven by strong oil prices and the North American unconventional gas boom, global upstream…
Despite higher oil prices, improving access to capital, increasing economic optimism and a generally more favorable deal environment, oil & gas executives are still cautious about engaging in M&A, according to Ernst & Young's sixth Global Capital Confidence Barometer…
The first of several riser replacements for Statoil on the Norwegian continental shelf was successfully completed recently by Emas AMC using the construction vessel AMC Connector. This one took place on Snorre B and the Emas AMC contract…
Temporary power specialist Aggreko has entered into an agreement to acquire the entire share capital of South American fellow traveler Companha Brasileira de Locacoes (‘Poit Energia’) for a cash consideration of £140 million and potentially…
Archer has purchased Aberdeen-based X-it Energy Services, developer and manufacturer of proprietary single-trip milling systems used for casing exits including controlled directional, multilateral and sidetrack drilling.
Produced water and production services specialist Cetco Oilfield Services is investing £1.5million in new equipment for its offshore rental fleet, including two CrudeSep produced water polishing units each capable of processing up to 40,000b/d and two Smart-tank oil water separators…
Equipment at Schlumberger’s new Geoengineering Laboratory in Houston allows scientists to obtain electrical properties for log calibrations at reservoir temperature and pressure. The 30,000ft2 facility enables highly complex core analysis covering permeability…
Dolphin Geophysical has purchased the entire stock of US seismic processing software specialist Open Geophysical. OGI’s newly developed software is already being used on Dolphin’s Polar Duchess for real time quality control of acquired data and in the company’s new London processing centre.
IHC Merwede has opened a new office in Singapore which will serve as the corporate HQ for IHC Offshore & Marine’s Southeast Asia businesses as it further expands its footprint in the area under new regional CEO Denis Welch.
Oceaneering International is investing $5 million in a 30,000ft2 expansion of its facilities in Morgan City, Louisiana.