Gulf Marine Services, a provider of self-propelled self-elevating support vessels (SESVs) serving the offshore oil, gas industry, has posted a 12% rise in revenues for 2015 compared to the year-before. The company’s revenues for 2015 increased from $196.6 million in 2014 to $219.7 million in 2015. D
Abu Dhabi’s national energy company TAQA has awarded Asset Guardian Solutions, the UK-based process control software company, a contract to provide its software solutions for TAQA’s North Sea offshore assets. TAQA, through its UK subsidiary, operates five platforms that produce from 13 fields spread
Singapore’s offshore ship owner PACC Offshore Services, aka POSH, has sued a Saudi client seeking a $6.6 million sum. POSH on Monday said the company started legal action against Makamin Offshore Saudi, to recover approximately SAR24.4 million (approximately US$6.6 million) the Saudi operator owes.
The Abu Dhabi National Oil Company (ADNOC), OMV, and Occidental Petroleum from the US have signed a contract over several undeveloped oil and gas fields in North-West Offshore Abu Dhabi including the Ghasha and Hail areas. According to the Austrian company, an agreement was reached for conducting a
Read the most popular news of the March 13 – 20 week.
By Simon Falush LONDON (Reuters) – Oil rose above $42 a barrel on Friday, hitting its highest this year and extending a rally into a fourth week on expectations of a production freeze by major exporters, stronger seasonal demand and dollar weakness. Brent crude’s front-month contract was up 77 cents
OneSubsea, a Cameron and Schlumberger company, has been awarded a contract from BP and partner DEA, to supply subsea production systems for the West Nile Delta Giza/Fayoum and Raven fields, offshore Egypt. OneSubsea said that Giza/Fayoum will be tied-back to modified onshore Rosetta facilities and i
Managing Director of the National Iranian Oil Company (NIOC) Rokneddin Javadi said that Iran has increased its crude oil export to 1.8 million barrels a day, Shana, Ministry of Petroleum’s news agency has informed. According to Shana, Javadi last week said that post-sanctions development will be the
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Wood Mackenzie, the energy intelligence group, has outlined five things one needs to know when it comes to the effect of the lifting of sanctions on Iran’s upstream industry, and the projects offered under the new fiscal terms of the Iran Petroleum Contract (IPC). 1. This is the beginning of a new
By Libby George LONDON (Reuters) – Brent crude was on track for its third weekly gain on Friday, supported by an optimistic report from the International Energy Agency that said the market may have reached its bottom. Still, analysts cautioned that a large glut of oil remained, with Goldman Sachs wa
Offshore driller Hercules Offshore has seen cuts in dayrates for three of its drilling rigs operating in Saudi Arabia. Hercules Offshore on Thursday said that it received from Saudi Aramco on March 9, 2016, a notice reducing the dayrates under its five year contracts for the Hercules 261 and Hercule
Italian oil company Eni has performed the production test of Zohr 2X, first appraisal well of Zohr discovery, in the Shorouk block, offshore Egypt. The Italian company completed the drilling of the first appraisal well of Zohr discovery in February. On Thursday, Eni reported that, during the test, 1
By Amanda Cooper LONDON (Reuters) – Oil prices broke above $40 a barrel on Wednesday, driven by anticipation that the world’s largest exporters may agree as soon as this month to freeze output, which could accelerate a decline in the largest global build in unwanted crude in years. Producers in and
