UK oil major BP will take a $750 million hit in its second quarter 2017 results over unsuccessful exploration efforts offshore Angola. The oil company informed in an update on Thursday that, as part of the ongoing portfolio evaluation, it had decided to relinquish its 50% interest in Block 24/11 off
Nigerian National Petroleum Corporation (NNPC), First Exploration & Production (First E&P) and Schlumberger signed a tripartite agreement for development of the Anyala and Madu fields under OML 83 and OML 85, offshore Nigeria. Under the agreement, Schlumberger will contribute the required services i
Nigerian National Petroleum Corporation (NNPC), FIRST Exploration & Production (First E&P) and Schlumberger have signed a tripartite agreement for development of the Anyala and Madu fields under OML 83 and OML 85, offshore Nigeria. Schlumberger said on Thursday that, under the agreement, it would co
By Karolin Schaps LONDON (Reuters) – Oil prices rose to a two-week high on Thursday, extending a rally into a sixth straight session after a decline in weekly U.S. production eased concerns about deepening oversupply. Crude prices slipped to the lowest in 10 months last week but have since rebounded
The Marine Energy Event 2017, organized in cooperation with the Dutch Energy from Water Association (EWA), offers delegates an insight in the latest developments in marine energy in the field of tidal and wave energy, salinity power and OTEC with a focus on bankable projects. The marine energy indus
By Karolin Schaps LONDON (Reuters) – Africa-focused oil explorer Tullow Oil <TLW.L> reduced debt in the first half of the year and reported a rise in gross profit under new CEO Paul McDade but a recent drop in oil prices means the company’s bottom line remains under threat. Tullow has been under pre
The preparations for the first ever Dredging Today Conference (DTC), which will offer a forward-looking agenda for the dredging industry, are in full swing now. With just about three months left to DTC, Dredging Today took the opportunity to talk with Ms. Femke Perlot-Hoogeveen, Conference Manager,
A ransomware cyberattack named Petya, or NOTPetya according to Kaspersky Labs, has hit organizations around the globe, including the Ukraine government, Denmark’s Maersk Group, and the Russian oil company Rosneft. According to several news reports screens around the world are receiving a ransomware
Huawei Marine contracted with China Unicom and Camtel to construct the South Atlantic Inter Link (SAIL), which marks the official start of the SAIL implementation phase. Huawei rotating CEO Guo Ping, CEO of China Unicom Lu Yimin, and Camtel general manager David Nkote attended the signing ceremony.
Cape Mining Supplies (CMS) Ltd recently completed delivery of the largest Dragflow hydraulically driven submersible dredge pump ever supplied to the African market. The order was received from Southern Oceaneering who was awarded dredging and sand bypass maintenance contract for the Port of Ngqura.
GE Oil & Gas has signed a long-term collaboration deal with Italy’s Eni that includes the provision of subsea equipment for the latter’s multi-billion Coral South liquefied natural gas (LNG) project off Mozambique. Under the multi-year contract, GE will supply subsea production systems, ancillary eq
GE Oil & Gas has signed a long-term agreement to collaborate with Eni East Africa (EEA), on the offshore Mozambique developments it operates. The agreement comprises a multi-year contract to supply subsea production systems, ancillary equipment and services. It covers the Coral South FLNG project an
