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(OE) A complete subsea factory may yet be a pipe dream. However, with its constituent parts now more or less ready, the industry has a much greater toolbox of technologies with which it can now apply to existing and new subsea developments. But is there willingness, even with the temptation of being able to reduce... Continue Reading →
(OE) Despite oil prices recently edging past $80 a barrel, scars from two recent oil industry downturns in five years have forced offshore seismic surveyors to look at ways to diversify. Marine seismic survey companies provide essential data to offshore oil and gas explorers to make better-informed drilling decisions. However, with every oil industry downturn,... Continue Reading →
TechnipFMC and Saipem have entered into a global commercial agreement to identify projects worldwide that could be jointly executed for the benefit of clients. Specifically, the agreement targets subsea umbilicals, risers and flowlines (SURF) projects where the combination of the companies’ complementary assets, technologies, products and competencies improves project economics and de-risks the overall project... Continue Reading →
Sapura will soon start the execution of a new contract signed recently with Petrobras. The shipping company will operate the PLSV Sapura Diamante vessel in the Santos basin, working mainly on the installation and recovery of flexible pipelines in ultra-deep waters until 2025. According to Sapura, the vessel loaded with around 3,000 tons of lines... Continue Reading →
Oilfield services provider Baker Hughes is set to change its listing from the New York Stock Exchange (NYSE) to Nasdaq Global Select Market (Nasdaq). Baker Hughes reported on Wednesday that it will transfer the listing of its common stock and listed bonds from the NYSE to the Nasdaq. Lorenzo Simonelli, Baker Hughes chairman and CEO, explained: “Baker Hughes is a leading... Continue Reading →
Keppel Offshore & Marine (KOM), a subsidiary of Singapore’s Keppel Corporation, is being sued by the eight funds managed by EIG Management Company, with a claim of almost $820m over the loss of an investment. The civil action by EIG Funds is being heard in the US District Court, Southern District of New York. In... Continue Reading →
Vallourec has signed a ten-year frame agreement with Esso Exploration and Production Guyana Limited (EEPGL), an affiliate of ExxonMobil, to supply line pipe products in Guyana. Under the agreement, Vallourec will act as a strategic supplier of seamless tubes for future projects in Guyana to build subsea flowlines and risers. The company’s line pipe is... Continue Reading →
U.S. oil major ExxonMobil has awarded a two-year contract for Valaris' drillship Valaris DS-9 for operations in Angola. The drillship, formerly known as Ensco DS-9, will work for ExxonMobil's Angolan subsidiary Esso Exploration Angola. Delivered in 2015 by Samsung Heavy Industries in South Korea, the drillship is currently preservation stacked in the Canary Islands, Spain.... Continue Reading →
Offshore driller Seadrill Ltd on Tuesday obtained court approval for its reorganization plan, clearing the way for it to emerge from bankruptcy. U.S. Bankruptcy Judge David Jones in Houston signed off on the plan during a virtual hearing. Under the plan, creditors will exchange $4.9 billion in debt for equity in the company. Seadrill will... Continue Reading →
(Reuters) - Exxon Mobil Corp's second floating production system for Guyana, the Liza Unity, arrived early on Tuesday in the South American country's waters, the U.S. oil company said. The production storage and offloading (FPSO) facility is expected to add 220,000 barrels per day (bpd) of oil capacity to Guyana's current 120,000-bpd output when it... Continue Reading →
