A former sales manager of Dutch energy services company SBM Offshore was sentenced on Monday to three-and-a-half years in jail after being convicted by a London jury of bribing public officials to win oil contracts in post-occupation Iraq.Paul Bond…
Mooring systems provider SOFEC has informed that it has delivered the Upper Tower and Mooring Support & Yoke Structures for MODEC’sFPSO Miamte MV34 which will be deployed for Eni in Mexico.SOFEC was awarded a contract by MODEC in October 2018…
U.S.-based oil major ExxonMobil said on Monday activist investor Jeffrey Ubben and Michael Angelakis have joined its board.Angelakis is chairman and CEO of independent strategic investment company Atairos. Prior to founding Atairos, he served…
Optime’s subsea system, Remotely Operated Controls System (ROCS) has completed a successful subsea operation for Aker BP, the company reports. The ROCS is designed to eliminate the umbilical during well completions, and it was deployed during…
The OSV sector will be reliant on a hitherto unseen amount of scrapping to balance the market, writes Gregory Brown, Associate Director – Offshore, Maritime Strategies InternationalThere is a consensus that an OSV market recovery will only be driven a supply side rationalization…
Sitting at 49% of the total cost of decommissioning, wells plugging and abandonment (P&A) has long been high on the hit-list on the decommissioning cost reduction agenda. It’s a task that has no returns on the cost to do it, and activity is increasing…
Old offshore oil wells could be turned into geothermal energy producers under a plan by a new consortium. The group, The Aquarius North Sea Geothermal Consortium, is “actively” working with North Sea operators to see if old wells could be used to generate geothermal energy for existing platforms…
Malaysian FPSO company Bumi Armada posted a net profit of RM144.1 million (around $35,5 million) in the fourth quarter of 2020.Bumi Armada said the result was an improvement from the third quarter of 2020 when its net profit was RM85.6 million (USD 21…
Malaysian state oil firm Petronas fell to a fourth-quarter loss on Friday hurt by lower oil prices and demand.Petronas announced in a virtual briefing a 1.1 billion ringgit ($272 million) loss after tax for the October-December quarter versus a profit of 4…
Australian offshore vessel operator MMA Offshore has won a contract with oilfield services company TechnipFMC to provide tug and barge support for 'a major subsea installation project in Australia.'MMA Offshore which did not share details on what project exactly it would be working on…
Global liquefied natural gas (LNG) demand is expected to almost double to 700 million tonnes by 2040, Royal Dutch Shell said in its annual LNG market outlook.Demand was 360 million tonnes last year, up slightly from 2019's 358 million tonnes…
Solstad Offshore, a Norway-based offshore vessel operator, on Friday said it had won contracts for the vessels Normand Ranger and Far Seeker in Australia.The Normand Seeker, a large AHTS, has been awarded a contract in Australia with the start slated for the second quarter of 2021…
UAE-based ADNOC Drilling has taken delivery of the Shelf Drilling Journey jack-up drilling rig from Shelf Drilling, following the sale and purchase deal signed in December 2020.Offshore drilling contractor Shelf Drilling said Thursday that it had on February 24…
A former sales manager of Dutch energy services company SBM Offshore was on Wednesday convicted by a London jury of conspiracy to bribe public officials to secure lucrative oil contracts in Iraq after the fall of Saddam Hussein in 2003.Paul Bond…
Alexey Miller will remain at the helm of the Russian oil and gas giant Gazprom for another five years, the company said in a statement on Wednesday. 'The Board of Directors reviewed the issue of electing the Chairman of the Gazprom Management…
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