Oil & gas news

According to Brand Finance, Shell remains the world’s most valuable oil and gas brand with a brand value of US$37 billion, up from US$31.6 billion last year.

On 9 January 2017, Tullow Oil plc announced that it had agreed to farm-down 21.57% of its 33.33% interests in Exploration Areas 1, 1A, 2 and 3A in Uganda to Total E&P Uganda B.V. (Total) for a total consideration of US$900 million.

Petroleum Development Oman (PDO) decided to extend the framework contract for engineering and maintenance services, with joint venture STS-Tebodin, in Oman by 3 years. The contract now runs until 2021.

Aker Solutions will provide design engineering for the upgrading of the semi-submersible Njord A platform in Norway.

The scope of work includes integrated supply base operations management, logistics control planning and pipe yard operations.

Global Tubing, LLC has launched DURACOIL™. DURACOIL’s improved tubing fatigue life, predictability and resistance to abrasion minimises downtime due to pipe failures.

FES International, a global producer of fluid transfer solutions, has been awarded a major contract from National Oilwell Varco (NOV) to supply equipment to be used in the Maersk Oil UK-operated Culzean field of the North Sea.

In the first two months of 2017 OPEC members have demonstrated an unprecedented level of compliance with the production cuts agreed in late 2016.

Energean Oil & Gas has announced that it has signed an exploration and production concession contract with the State of Montenegro covering offshore blocks 4219-26 and 4218-30, following approval from the Parliament of Montenegro.

The study integrates over 8500 km of new broadband prestack time-migrated 2D BroadSeis™ data and complementary marine gravity and magnetic data acquired with the seismic.