Following an unsolicited takeover offer launched by DNO, oil company Faroe Petroleum has urged its shareholders to reject what it says is an opportunistic offer, which undervalues the company and fails to value Faroe’s prospects as an independent business. DNO, already a significant shareholder…
Saudi Aramco aims to become a global refiner and chemical maker, seeking to profit from parts of the oil industry where demand is growing the fastest while also underpinning the kingdom’s economic diversification. The world’s biggest oil exporter is earmarking US$500 billion to invest…
“It is remarkable what Tor Olav Troim has achieved in such a short amount of time. Going from two jack-ups in December 2016 to becoming the largest jack-up provider shows how Troim has been able take the lead and orchestrate the establishment of his second…
BW Offshore has taken an investment decision for the Tortue Phase 2 project offshore Gabon following successful appraisal drilling on the western flank of the Tortue field. Phase 2 will feature four additional horizontal development wells. The company has placed orders for long-lead equipment…
Subsea cable and connector assembly specialist, Hydro Group, has expanded into a new market with Israeli-based distributor Aretha Technologies Ltd. Aretha Technologies will offer subsea electrical and optical cables, ROV tethers and more from Hydro Group’s extensive product range. Established in May 2018…
President-elect Jair Bolsonaro is pursuing the sale of Brazil’s deep-sea treasure-trove of oil, but just weeks after his election he is facing the same political obstacles as his two predecessors. While Mr Bolsonaro’s transition team argues the sale could net some US$30 billion to…
South America focused oil and gas producer and explorer, Amerisur Resources Plc, announced on the 23rd November that it has entered into a farm out agreement with Occidental Andina LLC across several exploration blocks. The blocks comprise Putumayo-9, Terecay, Tacacho and Mecaya, all of which are…
Subtech Group, part of James Fisher and Sons Plc, has secured multi-million-dollar subsea and offshore contract awards with a major oil and gas contractor across the Middle East. The contracts cover a range of works from installation and maintenance to demolition and decommissioning and…
BP, with its partners Shell, ConocoPhillips, and Chevron, has started production from its Clair Ridge offshore project located in the West of Shetland region. Clair Ridge is the second phase of development of the Clair field, 75 kilometres west of Shetland. The field, which…
Independent gas company DeNovo Energy has delivered first commercial supply of natural gas from the Iguana field, located offshore Trinidad and Tobago, after more than 30 years of it remaining undeveloped. On the 21st November DeNovo, a subsidiary of the Proman Group, announced the…
