Abu Dhabi National Oil Company (ADNOC) is set to integrate operations of two offshore oil firms, Abu Dhabi Maine Operating Company (aka ADMA-OPCO) and ZADCO. The company said the integration will enable “efficiencies and synergies” across the multiple ADMA-OPCO and ZADCO offshore concessions and fie
Lamprell, a company building offshore drilling rigs has informed that Christopher McDonald has now taken up his role as Chief Executive Officer (CEO) for the Group and as an executive director on the Board. James Moffat, who has been in the role of CEO since March 2013, has stepped down but will con
OPEC’s surprise announcement last Wednesday of a preliminary output reduction agreement seemed to be the development the oil & gas sector had been waiting for, Douglas-Westwood, an energy intelligence group, has said in its latest DW Monday report. By the middle of Thursday afternoon GMT, stock pric
Spectrum ASA has entered into an agreement with the administrator of the Dolphin estate to acquire the 2D multi-client surveys in Brazil Santos and Campos Basins and 3D survey offshore Lebanon. The company has not disclosed commercial or any other details regarding the acquisition of the data. To re
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Offshore oilfield services companies are set for a long and bumpy road ahead, Douglas-Westwood, an energy consultancy, said in its recent report. As for the onshore oilfield services, DW feels the sector has reached its nadir, and it is expected to start recovering. As said above, DW’s projection fo
Lamprell, a provider of fabrication, engineering and contracting services to the energy industry, has completed a construction of the Shelf Chaopraya jack-up drilling rig. The builder said on Friday it delivered the rig to its owner Shelf Drilling. The rig will sail within the next few days for depl
Organization of Petroleum Exporting Countries (OPEC) on Wednesday agreed to reduce oil production, aiming to stabilize oil prices. According to Reuters, this is the first such deal in eight years. The agreement in principle was reached in Algeria, where the OPEC oil ministers agreed to keep the prod
The global upstream oil and gas industry needs to move away from a “business as usual” approach and capitalize on opportunities to transform itself to be at the forefront of the world’s energy industry, Saudi Aramco CEO said. Speaking at the annual SPE and ATCE conference in Dubai, President and Chi
ALE, a UK-based heavy-lift and transportation specialist, has loaded out a pipe rack weighing 400t for the Upper Zakum EPC-2 Project, in the UAE. ALE said it would also perform the load-in and installation of the same pipe rack at the West Island of Zakum oil field, the second largest field in the A
Oilfield services company Schlumberger has released the GeoTesting geology-based well test design and interpretation service at the 2016 SPE (Society of Petroleum Engineers) Annual Technical Conference and Exhibition in Dubai. The company said on Tuesday that GeoTesting services, which will be built
Lukoil, Russia’s largest privately-held oil company, together with the ministries of emergency situations of Russia, Azerbaijan, Kazakhstan, Turkmenistan, and Iran, has held a joint emergency response exercise in the Caspian Sea. The company said last Friday that the exercise was a part of the Caspi
U.S. oil and gas firm Noble Energy, Inc. has executed a gas sales and purchase agreement (GSPA) to supply natural gas from the giant Leviathan gas field, off Israel, to the National Electric Power Company Ltd. (NEPCO) of Jordan for consumption in power production facilities. Under terms of the GSPA,
Norwegian oil giant Statoil in November 2015 signed a contract with Jacktel, a Master Marine AS subsidiary, for the provision of accommodation services at the giant Johan Sverdrup field, offshore Norway. It was then agreed that Jacktel’s accommodation rig Haven, to be deployed for the job, would und
