The integrated subsea and offshore solution provider Unique Group has entered into a cooperation agreement with offshore corrosion control company Deepwater Corrosion Services Inc.As part of the agreement, Unique Group will offer Deepwater’s…
A range of cutting-edge technologies, including specialized drilling equipment, custom subsea systems and purpose built floating production storage and offloading (FPSO) units, help Brazilian national operator Petrobras and its partners tackle…
The P-75 floating production, storage, and offloading unit (FPSO) has begun producing oil and natural gas in the Búzios 2 area of the pre-salt Santos Basin, Brazil's state-run Petroleo Brasileiro SA (Petrobras) said.With a daily capacity to process up to 150…
Africa's second largest crude producer Angola and France's Total officially inaugurated a new deep-sea oil field worth $16 billion in the Atlantic approximately 260 kilometers from the capital Luanda.The Angolan State Minister for Economic and Social Development…
Geosciences company Benthic completed field work for Esso Exploration and Production Guyana Ltd. for an offshore geotechnical investigation and environmental baseline survey in the Stabroeck and Canje blocks offshore Guyana.Benthic said it executed…
While the offshore industry is showing signs of recovery, it may still be some time before the supply chain starts to feel a sense of relief.“The offshore and deepwater are coming back,” said Caitlin Shaw, director of upstream supply chain research at Wood Mackenzie…
LOC Group’s Houston office provides perspective on decommissioning developments in the Gulf of Mexico.The Gulf of Mexico basin covers approximately 1.6 million km2 and is one of the most important petroleum production regions in the world. A…
As Brazilian national operator Petrobras and major international oil companies (IOC) target decreasing exploration and production (E&P) costs, especially at deepwater pre-salt plays in Brazil, increased investment will be funneled to research…
Ghana has approved state-owned company GOIL as minority local partner for Exxon Mobil's deepwater offshore oilfield, Energy Minister Peter Amewu said on Wednesday.The West African nation is receiving 'huge interest' from international and local…
Norwegian drillship and rig operator Fred. Olsen Energy, proposes to sell one of its drilling units and to issue $130-140 million in new equity to pay off debt, as part of a refinancing plan published on Tuesday.The proposal includes issuing about $90 million in new loan capital…
North Sea drilling activity this year could surpass 2017 levels while seeding a brighter 2019, as a range of indicators point to recovery after four years of rig glut and “cannibalization”.Boldest among bellwethers is oil company spending. After campaigning since 2014 for lower supplier costs…
Oil and gas exploration and production company Kosmos Energy said that it has entered into a strategic alliance with Shell Exploration Company B.V. to jointly explore in Southern West Africa.Initially, the alliance will focus on Namibia, where…
Oilfield services provider Danos announced Monday that Shell Exploration and Production Company, a subsidiary of Royal Dutch Shell plc, has awarded a contract to for the coatings maintenance campaign for the Ursa tension leg platform (TLP).…
The Gulf of Mexico’s offshore oil industry appears to be climbing out of the latest downturn.Based on rig counts, well numbers, permitting data and information about sanctioned and expected projects, IHS Markit’s Bob Fryklund, vice president for upstream energy…
Brazil's Petroleo Brasileiro SA will sell its 50 percent stake in a Nigerian oil and gas exploration venture to a consortium led by top oil trader Vitol for $1.53 billion, the latest step in the state-controlled oil company's debt reduction drive…
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