Offshore ///

Guardian's Select Fire Switch successfully deployed offshore Trinidad

Guardian Global Technologies announced the successful deployment of its Select Fire Switch technology offshore Trinidad.

Transocean reports loss of $739 million, debt downgraded to junk

Leading offshore drilling contractor Transocean has reported a net loss of $739 million, or $2.04 per diluted share. To add to the contractor's troubles, Moody’s downgraded Transocean debt to junk after the company booked over $1 billion in write offs.

BP, Helix agree to amend multi-year Q5000 contract

Helix Energy Solutions Group has entered into an agreement with BP Exploration & Production to amend their existing 2013 agreement for the Q5000 to provide well intervention services in the U.S. Gulf of Mexico to defer the commencement of the work, previously scheduled to begin in the third quarter of 2015, to April 1, 2016.

Oil & Gas UK names new CEO

The Board of Oil & Gas UK has announced the appointment of Deirdre Michie as the organization’s new chief executive.

Statoil submits development plan for Peregrino Phase II project

Following the sanction of the Peregrino phase 2 project in December, Statoil together with its partner Sinochem, has submitted the Plan of Development (PoD) to the National Agency of Petroleum, Natural Gas and Biofuels in Rio de Janeiro on Jan. 30.

INTECSEA awarded contract for Buckskin-Moccasin development

INTECSEA has been selected by Chevron to provide engineering and long-lead procurement services for the front-end engineering & design (FEED) phase of the Buckskin/Moccasin development in the Gulf of Mexico.

CGG to cut about 400 jobs after reporting $1.2 billion net loss

CGG, the oil field seismic surveyor that rejected a takeover approach last year by Technip, reported a net loss of $1.2 billion in 2014 after a writedown for restructuring costs and an impairment on marine assets.

Technip installs HRD process platform for ONGC using Unideck system

Technip has successfully installed the HRD process platform for Oil and Natural Gas Corporation Limited (ONGC), using its proprietary Unideck integrated topside float over installation system for the first time in Indian waters.

New packer technology for fast, but controlled swell rates

TAM International has introduced a new swellable packer technology that alters the geometric design of the elastomer to provide ultra-fast, but predictable and controlled swell rates.

Nexen implements Petrotechnics’ Proscient platform on UKCS operations

Petrotechnics has completed the implementation of its Proscient software platform on two UK offshore assets operated by Nexen Petroleum UK Ltd., a wholly owned subsidiary of CNOOC Limited.

Det Norske reviews funding as oil drops

Det Norske Oljeselskap, the oil producer controlled by billionaire Kjell Inge Roekke, is reviewing its funding options and cutting costs as a plunge in crude prices caps the cash flow it needs for new projects.

McDermott and Petrofac form strategic alliance to pursue SURF projects

McDermott International and Petrofac have formed a strategic marketing alliance to pursue top-tier deepwater subsea, umbilical, riser and flowline (SURF) projects.

Report paints bleak picture of UK offshore industry

Oil & Gas UK’s new report on offshore exploration, investment and production published on Feb. 24 provides striking evidence of how rising costs, taxes and inadequate regulation have taken their toll on the UK industry’s international competitiveness.

Elsevier launches Geofacets Mexico, providing competitive edge to Mexico’s oil & gas block bidders

Elsevier has launched Geofacets Mexico, a special edition of Geofacets, designed to give oil and gas companies a competitive advantage in completing Mexico’s oil and gas block bidding.

Schneider Electric bags contract for Kaombo FPSO project in Angola

Saipem has awarded Schneider Electric a contract to design, fabricate and pre-commission two fully-integrated technical buildings—also called E-House modules—to support the deepwater Kaombo FPSO project in Angola, operated by Total E&P Angola with a 30% share on Block 32.

UK North Sea oil’s 1,500 job cuts this year is tip of iceberg

The world’s biggest oil and gas producers, already cutting hundreds of jobs a week from the U.K.’s North Sea, are just warming up.

Shell planning to decommission Brent Delta platform

A thirty-day public consultation on plans to commence decommissioning of the Brent oil and gas field in the North Sea is underway.

Lime Petroleum acquires additional stake in Norwegian Sea licenses from Tullow

Lime Petroleum Norway has entered into an agreement with Tullow Oil Norge to acquire an additional 20% stake in licenses PL591, PL591B and PL591C in the Norwegian Sea.

Inpex bags exploration blocks offshore Western Australia

INPEX's subsidiary, INPEX Browse has been awarded exploration permits for release areas WA-513-P and WA-514-P.

Lundin to farm-out 30% stake in Gemini prospect offshore Norway

Lundin Petroleum, through its wholly owned subsidiary Lundin Norway, has signed a farm-out agreement with Lime Petroleum Norway, whereby Lime Petroleum will acquire a 30% working interest in PL338C.