Subsea services group Acteon has completed the acquisition of Viking SeaTech, a provider of temporary and permanent mooring services, from Actuant Corporation. The two companies signed a definitive agreement for the acquisition of Viking SeaTech in mid-August. Viking Seatech offers marine engineering and…
Byron Energy has started drilling an offshore well at its South Marsh Island 71 block, in the Gulf of Mexico, offshore Louisiana. According to Byron’s partners Otto Energy, Byron spudded the SM 71 F2 well on the 3rd December, using the Ensco 68 jack-up…
The Nord Stream gas pipeline through the Baltic Sea has transmitted its 200 billionth cubic metre of Russian gas to Germany via the Greifswald delivery point. First string of the pipeline system was put into service in November 2011 and the second in October 2012. Nord Stream AG, a consortium between Gazprom, Wintershall Holding, E.ON,…
ExxonMobil Exploration and Production Mauritania Deepwater has signed production-sharing contracts with Mauritania’s government for three deepwater offshore blocks. Blocks C22, C17, and C14 are roughly 124 miles (200 kilometres) offshore and span close to 8.4 million acres, in water depths ranging from 3,300-11,500 feet…
The OPEC and NOPEC agreement to keep current production restraints in place through 2018 will contribute to an oil price increase in the second half of next year, according to Wood Mackenzie. “The stakes were high for OPEC,” Ann-Louise Hittle, Wood Mackenzie vice president…
Business conditions have levelled out in Norway’s western oil-producing regions during the last three months, but companies are increasingly optimistic on the outlook for the coming quarters, a sentiment survey showed on the 1st December. The price of crude oil, Norway’s key export, fell…
Rolls-Royce and the European Space Agency (ESA) have signed a ground-breaking cooperation agreement aimed at pursuing space activities in support of autonomous, remote controlled shipping and promoting innovation in European digital logistics. The Memorandum of Intent (MOI) forms part of ESA’s wider strategy. Jan…
Atlantic Petroleum expects the Orlando field development in the UK northern North Sea to deliver first oil by the end of 2018. Atlantic will receive a 2% revenue share from production until Orlando has produced five MMbbl, and 4.35% of the gross field revenue…
The Danish Underground Consortium (DUC) has approved a DKK21-billion (US$3.36-bilion) investment in the redevelopment of the Tyra gas field in the Danish North Sea. This follows approval from Denmark’s parliament to implement legislation to secure the investment. Tyra is the country’s largest gas field,…
Total has commissioned several units as part of a more than €1-billion modernisation of its 338,000-b/d Antwerp refining and petrochemical complex. Start up of the units completes the modernisation programme first announced in 2013, which aims to improve competitiveness of the site further, Total…
