Private equity investment firm Castle Harlan and its partners, Champ Private Equity and Lime Rock Partners, have supported Shelf Drilling in a recent acquisition of three premium jack-up rigs, and the investors are eager to support further fleet expansion if the price is right. The acquisition of th
France’s Total in joint venture with Qatar Petroleum will assume operatorship of the Al-Shaheen offshore oil field for a period of 25 years starting on Friday, July 14, 2017. The field produces 300 thousand barrels of oil per day. The concession will be operated by the North Oil Company (NOC), which
Qatar’s state run oil and gas company Qatar Petroleum and French oil giant Total are set to formally launch a joint venture company which will operate the giant Al Shaheen offshore oil field. According to The Agence France Presse, which cited a statement by the two companies, the joint venture named
This year might be a turning point when it comes to the number of expected final investment decisions for upstream projects, according to Wood Mackenzie, an energy intelligence firm. According to a recent Wood Mackenzie report “A big year for FIDs: 2017 marks a turning point”, the number of upstream
Marsol International, a UAE-based marine solutions provider, has signed a two-year contract with Oman Oil Company Exploration & Production LLC (OOCEP) for the provision and management of marine and offshore activities related to tanker loading. Marsol said on Tuesday that the contract entails manage
The role of oil as a vital source of energy to the world is expected to continue for the long term despite the growth of alternatives, said Amin H. Nasser, President and CEO of Saudi Aramco. At the World Petroleum Congress in Istanbul on Monday, Nasser reiterated in a keynote to heads of state, gove
Popular news, July 3 – 9, 2017
As the “lower for longer” outlook keeps getting longer, some rig owners are setting the scene for a major restructuring in the offshore drilling industry. By David Carter Shinn Within a reasonable timeframe, rig dayrates, especially for deepwater drilling rigs, won’t increase from current cash break
Israeli energy company Delek is set to divest 9.25 percent in Tamar and Dalit fields offshore Israel, to a special purpose company named Tamar Petroleum. According to the sale plan, Tamar Petroleum will offer securities to the public (equity and debentures) that will be registered for trading on the
Qatar is set to boost its LNG production from 77 million to 100 million tons per year with the new volumes from its giant North Field, located in the Persian Gulf. Qatar Petroleum on Tuesday sad it would double the size of the new gas project in the southern sector of the North Field, which [&hellip
French Total and the National Iranian Oil Company (NIOC) have signed a contract for the development and production of phase 11 of South Pars (SP11), the world’s largest gas field. The project will have a production capacity of 2 billion cubic feet per day or 400,000 barrels of oil equivalent per day
Italian offshore contractor Saipem has been awarded new contracts worth total $500 million. According to the company’s statement on Monday, it was awarded a new E&C offshore contract by Saudi Aramco for EPCI (Engineering, Procurement, Construction, Installation) activities and T&I (Trunklines & Inst
The most popular articles of the week. The most popular articles of the week June 26 – July 2.
By Karolin Schaps LONDON (Reuters) – Oil prices climbed for a seventh straight session on Friday thanks to a weaker U.S. dollar in their longest bull run since April but were still set for their worst first-half performance since 1998. Lingering worries about oversupply have knocked 16 percent off B
