Cairn India Ltd. today announced that its board of directors approved a proposal for the buyback of equity shares of the company from its existing shareholders. The buyback would be done from the open market through the stock exchanges…
Milan-based Saipem announced an agreement with Eni for the sale of the Firenze FPSO (Floating Production Storage and Offloading) business line for €336 million (US$464 million). The agreement includes the Firenze FPSO unit, the on-board processing plan…
Ceona's high-capacity flexible/umbilical pipelay and subsea construction vessel the Polar Onyx has been floated out of dry dock at Ulstein Verft yard in Norway following an intensive outfitting program. It has now moved to the shipyard quay…
Oil and gas companies will spend about US$723 billion on exploration and production (E&P) in 2014, an increase of 6.1% from 2013, Barclays Bank said in a report. Major oil companies are slowing spending growth as they put more emphasis…
Conductor Installation Services Ltd (CIS), an Acteon company, launched a new service line: Subsea Piling services, which coincides with CIS’s new Subsea Piling system, a remotely operated system that the company developed to drive piles as large as 36in diameter…
Renowned energy expert Prof. Michael J. Economides suffered a fatal heart attack this past weekend on an international flight from Madrid to Chile. He was 64. Economides was a professor at the University of Houston’s Cullen College of…
PTTEP and Pertamina signed a 50:50 joint venture to buy Hess' assets off Indonesia for US $1.3 billion. The companies will gain 75% stake in Pangkah field and 23% in the Natuna Sea A field. The Pangkah transaction will be finalized in Q1 2014…
R. STAHL introduces a new signaling solution that withstands extreme environmental conditions, e.g. a wide operating temperature range of 55°C (133° F) to more than 70°C (158°F). The light source is a xenon tube providing a high light output…
Turner Designs Hydrocarbon Instruments launched the 4100 E09 electronics package for its existing TD-4100XD and TD-4100XDC oil in water monitors. Turner Designs added on-board control and monitoring of two sample streams, including individual calibrations for each stream…
Dialight unveiled the SafeSite LED Linear Fixture - Class 1. It is an efficient solution for Class I, Div. 2 certified hazardous applications. The fixture is intended to replace traditional fluorescent and HID lighting fixtures. It is also…
Subsea sampling can help increase PVT accuracy and improve subsea multiphase meter performance. Test lines for subsea well testing cost as much as US$60 million and come with logistical and well intervention challenges. Eivind Gransaether explains…
Schlumberger released the Vx Spectra surface multiphase flowmeter. The new multiphase flowmeter enables operators to obtain flow rate measurements in production testing and permanent monitoring. “A precise production allocation requires…
Dutch walk-to-work technology company Ampelmann has acquired fellow Netherland’s based firm Offshore Solutions. Delft-based Ampelmann provides systems to safely transfer people and cargo from ships to offshore oil rigs or wind turbines…
60th Annual Census: North American rig fleet gains while activity level drops. In the U.S. and Canada, additions to fleets increased availability, while activity decreased. The global offshore mobile fleet posted another modest gain, with 42 newbuilds entering service in the last year…
International tidal technology and project developer Atlantis Resources Limited bought MeyGen, Europe’s largest tidal power project. Atlantis already held 10% of the company developing the project, MeyGen Limited. It has now bought…
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