Transocean Ltd. has reached two separate settlement agreements, with the Plaintiffs' Steering Committee (PSC) and with BP Exploration & Production Inc. and BP America Production Co.
Halliburton has reached an agreement with BP Exploration & Production Inc. to resolve remaining issues, which includes indemnities between the parties and dismissal of all claims against each other, relating to the April 20, 2010, Deepwater Horizon well incident in the Gulf of Mexico.
Oil’s rebound and more certainty around company valuations are keys to driving mergers and acquisitions activity next year given the pent-up demand for deals, bankers said Tuesday at an energy forum in Houston.
“The dam will break at some point,” Stephen Trauber, vice chairman and global head of energy at Citigroup Inc., said at the Mergermarket conference.
AVEVA has entered a multiyear agreement with Aker Solutions for Everything. Aker has selected the software systsem to be its strategic 3D tool on plant design, modification and maintenance projects.
OMV Petrom SA, Romania’s biggest oil company, said its first-quarter profit fell 68% from a year earlier due to lower oil prices and warned it may be forced to reduce investment and production through 2017.
By 2025 mega-projects offshore Brazil and Norway will add some 3.8 MMbpd of new crude supply from the Atlantic basin, according to Wood Mackenzie's latest outlook.
Petrobras has announced that on April 11, 2015, oil production in the fields it operates in the pre-salt province of the Santos and Campos basins reached the milestone of 800,000 bopd, constituting a new daily production record.
Tracerco has invested in a number of new mobile reservoir tracer analysis laboratories for use onsite in offshore projects.
AGR and SP Offshore Energy Services have entered into a Memorandum of Understanding (MoU) under which AGR will provide a range of exploration services and the drilling of an ultra-deepwater well off the Comoros Islands, between Mozambique and the Comoros.
Statoil Brazil, in partnership with China’s Sinochem, is betting $3.5 billion in the Campos basin. Statoil Brazil president Pål Eitrheim explained the company’s strategy to World Oil.
Alvaro Teixeira is a civil engineer and geologist who worked 36 years for Petrobras on E&P projects in Brazil and abroad.
Responding to falling oil prices, some Latin American governments push energy investment, while others slash E&P budgets.
Experts from the offshore energy industry around the world came together 4–7 May for the 2015 Offshore Technology Conference (OTC) at NRG Park in Houston. More than 94,700 attendees from 130 countries gathered at the annual conference, representing the sixth-largest attendance in the OTC’s 47-year history.
Shenzi is BHP Billiton’s flagship project in deepwater Gulf of Mexico. The operator presented a panel of E&P executives at a press, who collectively outlined the exploration, drilling and production aspects of the project and showcased milestones, which classify Shenzi as a world-class development.
Transocean Ltd.’s first-quarter earnings exceeded analysts’ estimates by 86% as the offshore rig owner named new leadership, scrapped vessels and cut costs to handle a drop in drilling demand.
Five years after Macondo, the industry is better prepared to respond
Modern oil and gas exploration is good for the environment: Fact
Gazprom and PetroVietnam are to set drill the first deepwater well offshore Vietnam later this year, Moscow-based Gazprom said Wednesday.
Wood Group Mustang has completed engineering services for the two Marine Well Containment Company vessels that can be deployed in the event of a deepwater well control incident in the U.S. Gulf of Mexico.
EFC Group has been awarded multiple multi-million dollar contracts by major oilfield services company, Weatherford, marking continued success in the US since the Group set up its Houston base in 1995.