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OMV, the international integrated oil and gas company based in Vienna, has agreed to acquire Shell’s Upstream business in New Zealand comprising joint venture interests in Pohokura (48%), the largest gas producing field in New Zealand, and Maui (83.75%) as well as related infrastructure for production, storage and transportation.
The combined company will continue to evaluate growth opportunities in its core diving and subsea umbilicals, risers, and flowlines (SURF) markets.
As the upstream sector recovers from the 2014 oil price crash and resulting budget cuts, a number of Southeast Asian governments are adapting policies in the sector in the hope of capturing a share of new investment.
Capex into Oceania’s conventional gas and coal bed methane (CBM) projects would add up to US$48.6 billion and US$4.6 billion respectively over the eight-year period.
M² Subsea has strengthened its senior management team with the appointment of Andrew Imrie as global sales and marketing director.
Sand management is one of the biggest challenges facing oil and gas assets worldwide, affecting production, damaging equipment, causing failure and costing producers billions of dollars per year.
The name change supports the company’s strategy and development as a broad energy company.
World’s largest oil and gas conference and exhibition marks a milestone in technical achievements and innovations.
The acquisition of Maersk Oil allows the Group to reinforce its existing leading positions in the U.K. and in Norway, as well as to enter Denmark, making Total the second-largest operator in the North Sea.
According to Rystad Energy’s latest assessment, Halliburton has surpassed 4 million horsepower by adding roughly 700 000 horsepower since the first quarter of 2017.
In a still challenging market overall, the Group achieved a robust 22% growth in fourth quarter revenue year-on-year.
Wood has been selected to develop the world’s largest fully integrated crude oil to chemicals (COTC) complex in the Kingdom of Saudi Arabia.