Oil & gas news

SNC-Lavalin has announced that it has been awarded a significant oil and gas contract in the Middle East with an approximate value of US$800 million.

Drill bit with unique ridge-shaped cutting elements reduces drilling costs by improving ROP.

Statoil Exploration (Ireland) Limited has been awarded six licensing options in Ireland’s 2015 Atlantic Margin Licensing Round.

Zeg Oil has subscribed for and been issued 75.7 million common shares of Oryx Petroleum for consideration of US$30 million.

Subsea 7 S.A. has announced it has secured an extension to the existing contract (worth between US$50 million and US$150 million) by BP Exploration Operating Company Ltd.

Statoil and Yokogawa will develop a system that can map noise levels in real time at Statoil’s plants and upstream facilities.

Wintershall Norge AS, operator of production licence 611, is in the process of completing the drilling of wildcat well 7224/2-1. The well is dry.

Trelleborg lands its largest single thermal insulation and corrosion coating contract for Shah Deniz phase II.

The SPA with Det norske oljeselskap is for the sale of Noreco's remaining exploration licences, employees and a cash balance of NOK 45 million.

Companies and universities are collaborating in an initiative to improve awareness on how to optimise safety design of gas turbines.