By the end of the month, Borr Drilling’s acquisition of Paragon Offshore Ltd for an estimated US$232.5 million should be finalised. The addition of Paragon’s 31 jack-ups (and one semi-submersible) will make Borr the largest jack-up owner in the world, with 57. It will…
OMV AG expects to sign documents by the end of April for its acquisition of a 20% interest in the concession for Satah Al Razboot (SARB) and Umm Lulu oil fields offshore Abu Dhabi. The company said it has entered an agreement for the…
The light, sweet crude oil price for May increased on the New York market on the 5th April as reports that the US would be willing to negotiate a trade resolution with China helped ease market fears of a trade war between the countries. …
The industry will see a return to bigger project sanctions, Angus Rodger, Wood Mackenzie’s research director for Asia Pacific upstream oil and gas, has stated. “We cannot just have lots and lots of small projects forever. It will not sustain the industry,” Mr Rodger…
Bureau Veritas has secured a long-term frame agreement to provide inspection and verification services for nine drilling rigs operating in the North Sea. It will coordinate the programme from its base in Aberdeen. The drilling contractor will receive streamlined data tracking and reporting…
Statoil, on behalf of the Johan Sverdrup partnership, has signed a letter of intent with Aibel for the construction of the processing platform topside for Phase 2 of the project. A letter of intent for field centre modifications has also been issued to a…
Nord Stream 2 AG, the subsidiary of Gazprom and the operator of the Nord Stream 2 project, has received a permit to use the Finnish Exclusive Economic Zone (EEZ) for the construction of the pipeline. Nord Stream 2 AG said on the 5th April…
On the 5th April, Norwegian Minister of Petroleum and Energy Terje Søviknes approved the Plan for Development and Operations (PDO) for the VNG Norge-operated Fenja field located in the Norwegian Sea. VNG submitted the PDO for the Fenja field, formerly known as Pil and Bue, to…
Australia’s Santos Energy has received an unsolicited, non-binding, indicative, and conditional takeover offer from Harbour Energy. According to Santos, the offer, launched on the 29th March, is for Harbour to acquire a 100 percent of Santos shares by way of a scheme of arrangement….
China National Offshore Oil Corporation subsidiary CNOOC Ningbo Daxie Petrochemical Company Ltd has let a contract to CB&I, Houston, to deliver technology licensing and design for a grassroots polypropylene plant at its refining and petrochemical complex in Ningbo, Zhejiang Province, China. CB&I will provide…
