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Norwegian offshore services group DOF has entered into an agreement to purchase 35 per cent of the subsidiary DOF Subsea for NOK 20 million ($2.2 million). The acquisition is closely associated with the ongoing refinancing of DOF Subsea, the Oslo-listed offshore support vessel contractor said on Monday. After the acquisition, DOF ASA will own 100... Continue Reading →
The global oil and gas supermajors are looking to sell assets that could bring in a total of $27.5 billion, according to energy intelligence firm Rystad Energy. The intelligence firm said on Monday that these companies were actively shedding mature assets on a massive scale to finance higher-yielding investments elsewhere. The sale of mature assets... Continue Reading →
Nov 18, 2019 Petrobras has completed the largest seismic survey in the world, in the area of the Búzios onerous assignment, located in the Santos Basin, about 200 km from the city of Rio de Janeiro. Begun in November 2018, the project used ocean bottom nodes installed in 6,600 locations in an area of 1,600... Continue Reading →
Ocean Infinity, in partnership with Kraken Robotics, has reached what it calls a significant milestone in battery technology for autonomous underwater vehicles (AUVs). The new technology has now been tested following 18 months of research, development and trials, which was aimed at improving the safety, efficiency, and quality of AUV operations. Continue reading
French multinational integrated oil and gas company Total and consortium partners have announced first oil from the Iara licence (Block BM-S-11A) in the deepwater Santos Basin pre-salt in Brazil. The first oil marks the start-up of the FPSO P-68, the first of the two floating production, storage and offloading units (FPSO) already launched and to... Continue Reading →
Dutch floater specialists, SBM Offshore—the company that has secured a contract with ExxonMobil Guyana, for the construction of several Floating, Production, Storage and Offloading Vessels (FPSO)—has reported double digit profit margins, earning more than $1.4B already for this year. This, in addition to a still to be accessed loan facility for another US$1.1B—the good news... Continue Reading →
Self-funded Growing Business Adds Light Oil Production, Proven Reserves, Low Breakeven Cashflow, Low Risk Development Opportunities, Significant Exploration Resources, Strategic Acreage, New Basin Entry, Carried Exploration Drilling, Cross-border Pipeline, New Partnerships, and Operating and Commercial Synergies Continue reading
Commenting on unconfirmed reports that leading offshore contractors Saipem and Subsea 7 are considering a merger, Audun Martinsen, head of oilfield service research at Rystad Energy, said: “Subsea 7 made an unsuccessful bid to merge with US rival McDermott last year. Now it could be looking at a tie-up with Italy’s Saipem, both of which... Continue Reading →
Nov 15, 2019 Saipem SpA is considering a combination with rival Subsea 7 SA in what could rank as one of the European oil services industry’s biggest-ever deals, people with knowledge of the matter said. The Italian company is pursuing a potential transaction with Norway-listed Subsea 7 as it seeks to bulk up and weather... Continue Reading →
Sustainability in oil and gas is becoming increasingly important to the long-term viability of the industry. In fact, I believe it is becoming the most important issue for the global oil and gas industry—more about this later. To better understand what Sustainability in oil and gas means, what companies are doing, and what the most... Continue Reading →
