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Service companies chase international boom as U.S. shale drilling moderates

The biggest providers of oilfield services are surfing a wave of international spending on the back of higher prices, but the good news is tempered by an activity slowdown in their own back yard.

Wärtsilä Hybrid Centre will boost sustainable shipping

The technology group Wärtsilä has inaugurated its new Hybrid Centre, the first of its kind in the world.

Shell sells upstream interests in Denmark for $1.9 billion

Royal Dutch Shell plc (Shell), through its affiliate Shell Overseas Holdings Limited, has reached an agreement with publicly listed Norwegian Energy Company ASA (Noreco), to sell its shares in Shell Olie-og Gasudvinding Danmark B.V. (SOGU) for a consideration amount of $1.9 billion.

UTEC extends surveying capabilities with new autonomous underwater vehicle launch and recovery system

UTEC, a global surveying company in subsea services group Acteon, successfully commissioned its new launch and recovery system (LARS) for the fleet of seven autonomous underwater vehicles (AUV) it uses for seabed surveys in the oil and renewables industries.

Titan Torque invests in the future with state-of-the-art EnerQuip torque machine

Titan Torque has doubled its operational capacity – and signaled its long-term confidence in the offshore oil and gas industry – with a major investment in a new torque system from EnerQuip.

Production starts at Equinor's Oseberg Vestflanken 2

The Oseberg Vestflanken 2 field in the North Sea is now on stream. Remote-operated from the Oseberg field centre, the new Oseberg H platform is the first unmanned platform on the Norwegian Continental Shelf.

Saipem plans renewables push as oil clients keep lid on spending

Saipem SpA is looking beyond black gold, to green.

Aker BP acquires King Lear discovery

Aker BP has entered into an agreement with Equinor Energy to acquire its 77.8% interest in the King Lear gas/condensate discovery in the Norwegian North Sea for a cash consideration of $250 million.

Chevron exits Norway as wider retreat looms from North Sea

Chevron Corp. is selling its last remaining oil exploration license in Norway, putting it one step closer to a full retreat from the aging North Sea basin as the U.S. major seeks higher returns elsewhere.

BHGE, AFRC partner to push limits of advanced manufacturing for oil and gas

The University of Strathclyde’s Advanced Forming Research Centre (AFRC) and Baker Hughes, a GE company (BHGE), have joined forces to explore how some of the latest advanced manufacturing tools and processes can drive more efficient, smarter ways to reduce cost and increase productivity across BHGE’s operations.

Companies in the news

Michele Cowart, World Oil

Norway’s largest and longest pipeline, laid by the vessel Saipem Castorone, has reached Johan Sverdrup field.

People in the industry

Michele Cowart, World Oil

Hal J. Goldie has been appointed to the board of Enpro Subsea, based in Houston. With a career that spans almost 50 years in the industry, Goldie was previously president at Cameron Subsea Systems.

Equinor launches power-from-shore solution for Johan Sverdrup

Today the Norwegian Minister of Petroleum and Energy, Kjell-Børge Freiberg, officially opened the power-from-shore solution which will provide the Johan Sverdrup field in the North Sea with electricity for more than 50 years. Power from shore makes Johan Sverdrup one of the most carbon-efficient fields worldwide.

Equinor reduces estimated investments in Norway by some NOK 30 billion

Equinor has reduced the estimated investments for operated projects in the development phase on the Norwegian continental shelf by some NOK 30 billion ($3.6 billion) since the development plans were submitted to Norwegian authorities.

Global Maritime announces major contract win for work on Equinor's Njord field

Global Maritime has been awarded a contract with Equinor until 2020 for marine operations. The contract value is estimated to be around $7-9.5 million, one of the largest in Global Maritime’s history. Global Maritime will oversee project management, engineering, equipment procurement and offshore management with everything handled from their Stavanger and Oslo offices.

Arnlea secures $5.23-million contract, 2022 extension with Total

Total has extended its contract with innovative software business Arnlea to the end of 2022.

Block Energy signs MOU for gas offtake from West Rustavi license in Georgia

Block Energy Plc, the exploration and production company focused on the Republic of Georgia, has announced that it has signed a Memorandum of Understanding (MOU) with Bago Ltd (Bago), one of the largest private gas suppliers and purchasers in Georgia, for a proposed offtake agreement for gas produced at the Company’s West Rustavi permit.

Crude tumbles most in seven weeks as American stockpiles swell

Oil dropped from the highest price in almost four year amid signs of a growing crude surplus in the world’s biggest economy.

Petrofac secures North Sea contract extension with Chevron

Petrofac’s Engineering and Production Services (EPS) division has secured a 12-month engineering services contract extension from Chevron North Sea Limited (Chevron).

Equinor confirms Norwegian oil discovery, more than doubling Norne reserves

Equinor has, together with partners Eni and Petoro, completed the appraisal well on the Cape Vulture discovery from 2017. The well confirms a volume potential of 50-70 MMbbl of recoverable oil. The discovery more than doubles the remaining oil reserves to be produced through Norne field.