Offshore drillers are facing a softening market with credit implications linked to asset quality and financial flexibility, according to Fitch Ratings.
As the search for oil & gas reserves continues, exploration and production activities are occurring in increasingly harsh environments and drilling is going deeper than ever before.
ShawCor’s pipe coating division, Bredero Shaw, has received a contract with a value of approximately US$70 million from BP Exploration (Shah Deniz) Ltd. for and on behalf of the South Caucasus Pipeline Company Ltd. for coating services for the South Caucasus Pipeline Expansion (SCPX) project. The ob
Noble Energy, Inc. today announced that the parties have agreed to terminate the non-binding memorandum of understanding regarding the sale of interest in the Leviathan licenses, offshore Israel, to Australia’s Woodside Petroleum. Following termination of the agreement, working interests in the Levi
The contract for this latest NDC rig was signed in October 2011 and this is the fourth rig in a series of six identical rigs being built and delivered by Lamprell to NDC.
Lukoil confirms helicopter crash offshore Ghana. Three dead Lukoil Overseas, operator of international upstream projects of LUKOIL Group, has confirmed that on Thursday, May 8th, 2014, a helicopter crashed in the coast waters of the Republic of Ghana 3.4 nautical miles (5.4 km) from Takoradi. Vietna
Polarcus Limited, a UAE-based owner of seismic survey vessels announced a drop in revenue for the first quarter 2014. The company said that the effects of the challenging market conditions at the end of 2013 spilled over into the start of 2014, as the Company recorded lower revenues during the quart
TWMA, the global provider of oil and gas waste management solutions, announces a significant contract win for Abu Dhabi Marine Operating Company, ADMA-OPCO, to carry out work in three of Abu Dhabi’s offshore fields. Due to begin this quarter, the contract will see TWMA provide specialist drill cutti
SNC-Lavalin Inc. has been awarded a contract by Abu Dhabi Oil Company Ltd. (Japan), (ADOC) to provide project management consultancy services for an expansion aimed at increasing production from oilfields located offshore of the UAE. ADOC is currently operating the Mubarraz, Umm Al Anbar and Neewat
Qatar Petroleum (QP) has announced plans to invest over 40 billion Qatari Riyals ( $11 billion) in the re-development of the existing Bul Hanine offshore oil field located about 120 kilometers to the east of the Qatari coastline.
Noble Corporation has secured contract extensions for two of its offshore jack-up drilling rigs in the Middle East.
Gulf Marine Services, the leading provider of self-propelled self-elevating support vessels serving the offshore oil, gas and renewable energy sectors, has published its Interim Management Statement for the period 1 January to 7 May 2014. Operations “We continue to see high demand for our services w
Qatar Petroleum’s Industrial Cities Directorate recently organized a meeting of the LASTFIRE Group, which was hosted at Ras Laffan Emergency and Safety College. The venue provided a fitting setting for the delegates of the international oil & gas industry who discussed the results of recent studies
Baker Hughes Incorporated announced today that the international rig count for April 2014 was 1,349, up 4 from the 1,345 counted in March 2014, and up 48 from the 1,301 counted in April 2013. The international offshore rig count for April 2014 was 329, down 5 from the 334 counted in March 2014, and
