Colombian state-run oil company Ecopetrol said on Tuesday it will invest between $3.5 billion and $4 billion in 2019, slightly above this year as it bolsters spending on exploration and production projects.The investment is the backbone of an…
Norway's Equinor has awarded a NOK 900 million ($107 million) contract to local contractor Kvaerner for delivery of the steel substructure for the Johan Sverdrup Phase 2 process platform.The engineering, procurement and construction (EPC) award…
Claxton, a supplier of engineering and services for shallow-water, jackup-depth markets in subsea services group Acteon, has been contracted to support MOL Norge AS on its first well program on the Norwegian Continental Shelf.The award is through Ross Offshore Well Management AS…
BiSN, the provider of metal-to-metal downhole sealing solutions, has achieved a world first in conjunction with AkerBP and Altus Intervention, through the successful deployment of the largest-ever bismuth plug.Following over a year of development…
Kvaerner, a Norwegian builder of oil platforms, aims to increase its revenue by some 40 percent by 2022 by expanding abroad, the company said on Tuesday after reporting a sharp decline in third-quarter earnings that drove down its shares.Kvaerner's quarterly earnings before interest…
Battered oil and gas drilling companies are finally seeing piecemeal signs that the prices they charge for offshore rigs are bottoming out with Brent crude selling for more than $80 a barrel and some are forecasting a full turn in the market by 2020…
Norway's Equinor has awarded Maersk Drilling AS a five-month contract for the Maersk Intrepid rig to provide operational support on the Martin Linge field in the North Sea. Two extension options will also be exercised, and four new options will be added…
Texas-based offshore drilling contractor Rowan Companies announced that it has concluded the sale of two LeTourneau TARZAN Class jack-up rigs, the Scooter Yeargain and the Hank Boswell, to ARO Drilling.The net economic impact of this transaction…
Offshore driller Ensco Plc said on Monday it plans to buy smaller rival Rowan Cos Plc in an all-stock deal valued at $2.38 billion, as it looks to expand its fleet and benefit from a partnership with Saudi Aramco.This is Ensco's second deal…
Texas-based Noble Energy sold its 43.5 percent stake in Israel's Tamar Petroleum after announcing last week that it would help finance a gas export deal with Egypt, the Israeli business daily The Marker reported on Wednesday.Noble's sale of 40 million Tamar shares…
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