Drilling & production

Despite a tax increases and a murky economic outlook, a report by Wood Mackenzie reveals that capital investment in the UK oil industry hit a record breaking £7.5 billion last year.

FMC Technologies has signed an agreement with Anadarko Petroleum Corporation to continue providing subsea systems support.

US Treasury Secretary Timothy Geithner has met leaders in Beijing to discuss the possibility of Chinese support for sanctions on Iranian oil.

RenewableUK praises National Grid’s successful management of high levels of wind output as wind farms reach a high of 12.2% of the UK’s electricity demand.

FMC Technologies, Inc. has signed an agreement with Woodside Energy Ltd. for the design, manufacture and supply of subsea production systems to support the Greater Western Flank (GWF) Phase 1 Project. The contract has a value of approximately US$ 150 million.

Aker Solutions has been awarded a contract by Daewoo Shipbuilding & Marine Engineering (DSME) for the delivery of a deepwater drilling riser system to the DSME shipyard in South Korea.

Aker Solutions has signed a contract with Marathon Oil Norge AS to supply a subsea production system for the operator's Bøyla project on the Norwegian continental shelf.

Petrofac and Schlumberger announced today that their Integrated Energy Services (IES) and Schlumberger Production Management (SPM) divisions respectively have signed a Co-operation Agreement under which these divisions will establish a working relationship.

Excelerate Energy is to undertake the development and permitting of a floating offshore LNG regasification facility off the southern coast of Puerto Rico.

Leading well intervention and integrity specialist, Interwell has recorded significant growth since opening its UK facility in February 2011.

Average oil production in Brazil grew 3% in November compared to October, reaching 2,060,695 barrels of oil per day (bpd).

78% of Nevada voters are in favour of more oil and natural gas development in the US.

Battalion Resources Holding has acquired coalbed methane (CBM) assets in the Powder River Basin (PRB) from J.M. Huber Corp.

After its successful IPO based on near-term thermal coal production assets in 2010, Universal Coal‘s metallurgical coal assets will be the main driver for investor interest in 2012.

Arch Coal has acquired the South Hilight coal lease in the southern Powder River Basin (PRB) for US$ 300 million. The lease is contiguous with the company’s existing Black Thunder mines and contains high CV, low sulfur coals.