Fossil Energy
STATS Group invests in new Houston facility
Aberdeen-based engineering company, STATS Group, has invested $2 million in new facilities in Houston. The UK-based group specialized in manufacturing and installing pipeline isolation and intervention tools, has opened a 25,000 sq ft office and workshop facility in Brittmoore and expects to add to
COSL takes delivery of first of four Havyard-designed PSVs
China Oilfield Services Limited’s (COSL) Shipping Branch has taken delivery of the first of four Havyard 832 Platform Supply Vessels (PSV) “Hai Yang Shi You” from Huangpu Wenchong Shipyard. The Norwegian Havyard Design & Solutions has delivered the design package for the PSVs. According to Havyard,
James Fisher buys subsea assets from S3
James Fisher Offshore Ltd, part of James Fisher and Sons plc, has reached an agreement with KPMG in Scotland to acquire a number of subsea assets free from encumbrances from Specialist Subsea Services Limited (S3). S3, that was acquired by the Reef Group in 2009, went into administration and dismiss
Eidesvik: Contract extension and battery solution for Viking Queen PSV
Lundin Norway has extended a contract for Eidesvik Offshore’s platform supply vessel (PSV) Viking Queen from 900 to 1.200 days. The contract was signed in January 2014 and it began in late 2014. In addition, Eidesvik entered into an agreement for installation of Energy Storage System (Battery soluti
Popular news, Apr 27 – May 3, 2015
Dear readers, judging by your page views, this past week was about job cuts in the offshore oil and gas industry.
North Energy CEO fired
North Energy ASA, a Norwegian oil & gas exploration company, has fired its CEO Erik Karlstrøm. The company has said that Karlstrøm has been relieved of his duties with immediate effect. Providing rationale for the move, the company said that “Karlstrøm no longer has the trust of the Board.” Erik Kar
UK: Confidence in oil & gas sector drops
Optimism continues to fall in the UK oil and gas industry according to the Q1 2015 Oil & Gas UK Business Sentiment Index published yesterday. The report shows confidence in the sector has dropped from minus 23 points to minus 31 on a -50/+50 scale. For the past eight quarters, the sector’s optimism
Cape clinches two-year deal with BP (UK)
Cape plc, a UK-based energy services company, has announced the award of a new two-year contract with BP. According to Cape, the contract has an estimated value of £100 million ($153.4 million) and it will secure around 500 jobs for Cape employees as it provides a range of services, including access
Cao heads Saipem as CEO
Italy’s Saipem has appointed Stefano Cao as its Chief Executive Officer. In April 2015, Eni nominated Cao to head Saipem as its CEO saying that Cao has “the specific professional skills for the appointment as CEO of the company”. Eni holds 189,423,307 ordinary shares of Saipem, representing 42.924 %
Marginal field consortium: Apollo in, WGPSN out
ABT Oil and Gas Ltd. (‘ABTOG’), Enegi Oil’s joint venture with ABTechnology Ltd, has signed a collaboration agreement with Apollo Offshore Engineering Ltd. who will join the Marginal Field Delivery Consortium providing expertise in the structural engineering of ABTOG’s current and future solutions.
Statoil completes sale of Shah Deniz field stake
On Thursday, April 30, 2015, Statoil and the Malaysian oil and gas company PETRONAS completed their transaction, announced previously on October 13, 2014. The sale involved the transfer of Statoil’s 15.5% participating interest in the Shah Deniz production sharing agreement, 15.5% share in the South
Edison acquires stakes in Scott and Telford fields in North Sea
Italian energy company Edison, reported yesterday it executed the acquisition of stakes in Scott & Telford fields in the UK North Sea, operated by Nexen, for 41 million euros. This will add 3,500 barrel of oil equivalent per day to Edison’s production to its current of 50,000 barrel, the company sai
Subsea Services Alliance to engineer new intervention riser system
Subsea Services Alliance, the collaboration between Helix Energy Solutions Group, Inc., OneSubsea, a Cameron and Schlumberger company, and Schlumberger, has announced the first joint technology project between OneSubsea and Helix to engineer and manufacture a 15,000-psi intervention riser system. Ac
Songa Offshore appoints former Shell executive a director
The Board of Songa Offshore SE, a midwater drilling contractor from Cyprus, appointed former Shell executive Ron Blakely (64) to the position of director of the company. During his long term career at Shell, among others, he was Executive Vice President Global Downstream Finance based in London, UK,