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There’s a shake-up happening in the pipeline inspections business. More evolved remotely operated vehicles (ROV), digital aspirations and unmanned surface vessels (USV) are driving a new era of data acquisition and deliverables. It’s offering something of a revolution in the amount of new insights that operators can acquire on their pipelines, while reducing offshore campaign... Continue Reading →
U.S. engineering and construction services company McDermott International could be filing for bankruptcy over the course of this week. Citing people close to the matter, Bloomberg stated the company was looking into a restructuring plan to convert its more than $4 billion debt into equity. According to the news agency, the majority of the shares... Continue Reading →
InterMoor has started working on a chain inspection job offshore Brazil, in partnership with 3 other Acteon Group sister companies. The team will inspect the mooring lines of six FPSOs. The project consists in performing full inspection on all mooring lines, an equivalent of 28km of chain/polyester. Continue reading
Norwegian oil and gas company Equinor has installed the Peregrino C platform on the Peregrino field located offshore Brazil ahead of productio startup planned for later this year. Equinor, the operator of the Peregrino field, on Friday launched a video with highlights from the installation of the platform’s two largest modules – the main support... Continue Reading →
Oilfield services provider Schlumberger recorded a 38% drop in its fourth quarter 2019 profit and an increase in revenues when compared to the same period in 2018. According to Schlumberger’s 4Q 2019 report on Friday, the company’s fourth-quarter revenue of $8.23 billion decreased 4% sequentially, but increased 1% year-on-year when the company’s revenues were $8.18... Continue Reading →
Schlumberger, Halliburton Co, and Baker Hughes Co have kicked off the new year by putting units up for sale, as the three largest names in oilfield services seek to reshape their businesses and adjust to falling demand. Oilfield service providers are facing reduced spending by oil and gas producers as investors push for higher shareholder... Continue Reading →
Italian oil and gas company Eni has started oil production from its operated Agogo field, located offshore Angola, only nine months after its discovery. Eni announced “a major oil discovery” in Block 15/06, in the Agogo exploration prospect, in Angola’s deep water in March 2019. Eni operates two FPSOs in Block 15/06, the N’Goma in West... Continue Reading →
Oilfield services provider TechnipFMC has reaffirmed that its planned transaction to separate into two companies, TechnipFMC and Technip Energies, is well on track for completion in the first half of 2020. The board of directors of TechnipFMC unanimously approved the company’s plan to separate into two independent, publicly-traded companies in August 2019. TechnipFMC anticipates completing the transaction... Continue Reading →
Oilfield services provider John Wood Group Plc expects higher core earnings in 2019, with strong performance in its engineering services unit in the Middle East, Asia and the Caspian region offseting slowing U.S. onshore drilling demand. The Aberdeen-headquartered company said on Thursday adjusted earnings before interest, tax, depreciation and amortization (EBITDA) is expected to be... Continue Reading →
Tokyo, January 16, 2020 MODEC, Inc. (“MODEC”) is pleased to announce that MODEC has signed the United Nations Global Compact (“UNGC”) advocated by the United Nations consisting of ten principles on human rights, labour, environment and anti-corruption, and joined the Global Compact Network Japan, a local network in Japan. Continue reading
Brazil Energy Insight 