Following completion of the acquisition of Shell and Exxon’s interests in the Triton oil cluster, Tailwind Energy has announced the next stage of its growth. Tailwind has agreed with EOG Resources to acquire EOG’s UK business, subject to regulatory approvals. As part of…
Transocean and Ocean Rig have entered into a definitive merger agreement under which Transocean will acquire Ocean Rig in a cash and stock transaction valued at approximately US$2.7 billion, inclusive of Ocean Rig’s net debt. The transaction consideration is comprised of 1.6128 newly issued shares of Transocean plus US$12.75…
Tullow Oil has started drilling the Cormorant-1 well located in PEL 37 offshore Namibia. PEL 37 covers an area of 17,295 square kilometres in the Walvis Basin offshore Namibia. The participants in Cormorant-1 well are Tullow Namibia Limited (operator) with a 35% interest;…
Carbon-fibre composite pipe manufacturer Magma Global has announced a joint initiative with Equinor at ONS to qualify an all-Magma solution for jumpers. This is initially envisaged for use offshore Norway. Charles Tavner, COO at Magma Global, said: “There is no doubt in our…
Europa Oil & Gas has been notified by the Head of Estates at the Forestry Commission that the Minister for the Environment, Food and Rural Affairs, has decided not to renew the lease at Bury Hill Wood, Coldharbour Lane, Surrey. Bury Hill Wood…
Vestas Enters New Market With 159 MW EPC Order for the First Large Utility-scale Wind Project in Senegal Vestas is providing a customised solution for the 159 MW Parc Eolien Taiba N’Diaye, Senegal’s first large utility-scale wind energy project and the largest wind project in…
A new trade route for energy supplies is opening up north of the Arctic Circle as some of the warmest temperatures on record shrink ice caps that used to lock ships out of the area. This year is likely to rank among the top…
The average price of Brent Crude will be between US$70 and US$80 per barrel in 2019, according to a new Rigzone poll. Forty-percent of the 231 poll respondents said the average price would fall within this range next year, with 23 percent stating that…
Siemens and Iljin Electric, a Korean manufacturer of electrical systems and gas-insulated switchgear (GIS), have signed an agreement to develop an SF6-free GIS for the 170 kilovolt (kV) voltage level. The technology has already been developed by Siemens for applications up to 145 kV….
In Barclay’s midyear global spending survey of more than 200 companies, global upstream spending for 2018 is on pace to rise 8%, essentially in line with its December spending report. “Compared with the last two cycles, the recovery in global spending has been remarkably…
