Oil & gas news

OEG have delivered several high value remotely operated vehicles module contracts worth £1.8 million (US$2.5 million) for leading subsea contractors.

McDermott International, Inc. announced a large contract award from Saudi Aramco for the engineering, procurement, construction and installation of 13 jackets in the Zuluf, Marjan, Berri and Abu Safah fields, offshore Saudi Arabia.

Enpro Subsea has secured investment from EV Private Equity (EV) to grow its production optimisation business into new and existing international markets and further develop its range of production optimisation and intervention technologies.

TMC Compressors has won a contract from Shanghai Waigaoqiao Shipbuilding Co., Ltd (SWS) to supply the marine compressed air system to a newbuild FPSO the yard is currently constructing for SBM Offshore.

Over US$83.1 billion in capital expenditure will be spent over the lifetime of the top 10 onshore oil projects to produce 9.7 billion bbls of crude oil, according to GlobalData, a leading data and analytics company.

The no cost option agreement to farm into offshore Block 49/29c UK Licence P2264 contains the Acle prospect, which is jointly owned by Swift Exploration Limited and Stelinmatvic Industries Ltd.

Confidence within the oil and gas industries has surged after a difficult three years, according to a survey by DNV GL.

Revenues from E&P operations combined with a further reduction in G&A costs, strict discipline on all spending and a rigorous management of receivables have helped the company to deliver another step towards overall profitability.

The company have announced their intention to initiate the permitting process for three new wells in the Permian Basin, accelerating their original plans to develop the areas assets.

Heerema Fabrication Group has been awarded an Engineering, Procurement, Construction and Installation contract for the Q10-A unmanned offshore platform.