Global oil and gas equipment and services deal activity, including capital markets and Mergers and Acquisitions (M&A), increased in overall value from $563.4 million across 29 deals in February 2015 to $3.2 billion from 38 transactions in March, a rise of over $2.6 billion, according to research and
Lamprell, a provider of engineering and contracting services, has announced the completion of construction on the jack-up drilling rig, the “Butinah”, and delivery to Abu Dhabi’s National Drilling Company (NDC). This comes following an announcement last week where NDC exercised one of its existing o
Dear readers, judging by your page views, this past week was about job cuts in the offshore oil and gas industry.
Seismic acquisition companies are the first to feel the consequences when the oil prices go down, as their customers, the oil companies, stop investing in new exploration projects, waiting for the oil prices to rebound. In line with this, seismic survey contractor Polarcus saw its 1Q 2015 revenues f
TAQA, the international energy company from Abu Dhabi, has appointed Grant Gillon as acting Chief Financial Officer following the retirement of Ryan Wong. Gillon, currently Executive Vice President Portfolio, will take up his new role effective from 1 May 2015. “Ryan leaves behind a strong finance t
Marsol International Ltd, a Dubai-based marine solutions provider focused on the offshore oil terminal market and related infrastructure, has announced the registration of its new subsidiary, Marsol Oil & Gas Services LLC. The subsidiary will be operated from a new office facility in the Port of Fuj
National Drilling Company (NDC), Abu Dhabi, has exercised one of its existing options and awarded a contract to Lamprell for the construction and delivery of a high specification jack-up drilling rig. Lamprell has previously been awarded contracts by NDC for a series of eight rigs and this ninth rig
Iran is reportedly planing to kick off oil extraction from the giant South Pars gas field offshore southern Iran starting March 2016. According to the the official news agency IRNA, South Pars oil layers project manager, Ali-Reza Zeighami, said that the wells being drilled in the oil layer are to be
Carimin Petroleum Berhad’s subsidiary, Carimin Engineering, has on April 24, 2015 entered into collaboration agreements with Makamin Offshore Saudi Ltd. Company (MOS) and Petro Allied International (PAI). The companies entered the collaboration agreement in order to combine their resources and exper
Last week was all about thirty fourth IHS CERAWeek conference in Houston, so naturally some of the most read articles on Offshore Energy Today include the stories reported by our team attending the conference. The speech made by Statoil’s CEO Eldar Sætre during IHS CERAWeek conference tops our list
Rowan Companies, a Houston-based drilling contractor, has seen several revised operating rates for their rigs contracted by Saudi Aramco. According to its latest fleet status report, five of its jack-up rigs under contract with Saudi Aramco in Saudi Arabia, are under revised operating rates beginnin
Drydocks World & Maritime World have been recognized at the ADNOC HSE awards for “bringing safety and environment benefits” to the industry in partnership with the National Drilling Company (NDC). The ceremony was held at the InterContinental Hotel in Abu Dhabi on April 21, 2015 with numerous nation
The most read article on Offshore Energy Today last week was our interview with Rabobank’s industry analyst, Richard Brakenhoff. Namely, Dutch bank Rabobank issued a report recently titled: “Offshore energy: Short-term dip, long-term rise”, providing their insight into the current market conditions.
GE Oil & Gas is reportedly set to start staff cuts in an attempt to reduce costs. According to Evening Express, Aberdeen’s daily newspaper, the company has begun the restructuring process which includes job cuts. Evening Express quotes GE Oil & Gas spokesperson as saying: “GE Oil & Gas has started r
