Spectrum has completed the purchase of the Marine 2D Multi-Client library of CGGVeritas effectively doubling their Multi-Client portfolio. This conclusion follows endorsement by the Board Members and shareholders of both companies and the completion of a US$40 million transaction. The combined size
Mukesh Ambani-run Reliance Industries Ltd (RIL) is in deep trouble as the final report of the Comptroller and Auditor General (CAG) has … IndiaToday [mappress] Source: Indiatoday,September 15, 2011;
Today RLC, the largest privately-held helicopter operator in the Gulf of Mexico, announced the appointment of Dru Milke as CEO of RLC. Milke brings RLC a wealth of domestic and international management experience and a proven track record in both the offshore rotorcraft services and oil and gas indu
Statoil and its partners in the Troll licence have decided to invest NOK 11 billion (approximately USD 1.9 Billion) in two new compressors on Troll A. The compressors will enable the production of gas from the field all the way until 2063. The two new compressors form the final phase of the planned
Gran Tierra Energy Inc. a company focused on oil exploration and production in South America, today announced that it has entered into two farm-in agreements with Statoil do Brasil Ltda. (“Statoil”), whereby Gran Tierra Energy will earn a 10% working interest in Concession Contract BM-CAL-7 operated
More than half the backlog in safety-critical servicing on installations operated by Statoil off Norway has been eliminated over the past year. The organisation is working continuously to get better at operating these facilities safely and effectively. “There’ll always be some outstanding maintenanc
U.S. energy major Chevron Corp will invest at least $3 billion a year for the next three years in Indonesia’s oil and gas sector, Chevron… Reuters [mappress] Source:Reuters ,September 15, 2011;
A preliminary count reveals that 43 companies have applied for acreage in the 2011 Awards in Predefined Areas (APA 2011). This result shows that there is still considerable interest in awards in predefined areas in the North Sea, the Norwegian Sea and the Barents Sea, even through much of the acreag
The WA government remains opposed to the establishment of a national offshore petroleum regulator, despite agreeing to support it. The Senate yesterday passed a bill to set up a single regulator in Perth that would control the safety and environmental management of all offshore petroleum projects, w
YPF SA , Argentina’s largest oil company, is likely to benefit from rising domestic crude prices and from the potential discovery of … By Rodrigo Orihuela (Bloomberg) [mappress] Source:Bloomberg, September 15, 2011; Image:Seatrax
Which companies share the blame for the Gulf of Mexico oil spill and will have to pay for it will be decided in a non-jury trial set to… By Margaret Cronin Fisk and Laurel Brubaker Calkins (Bloomberg) [mappress] Source: Bloomberg,September 15, 2011
Total announces that it has signed agreements with Talisman Energy (“Talisman”) to farm-in into three deep-offshore exploration blocks in the Makassar Strait in Indonesia. Total has acquired from Talisman: a 50% interest in the Sageri Production Sharing Contract (PSC), Talisman now holding the remai
Noreq AS continues to expand. The increasing demand for Noreq’s products has resulted in a new company establishment, NOREQ FZE, a subsidiary with office in Dubai – the most important business and financial center in the Arab world. Noreq has been represented in UAE for several years by Mr. Chacko J
Bergen Group Dreggen AS has this week been awarded new contracts with an aggregated value of NOK 40 million. The contracts are awarded from three different international customers, and comprise eight different crane-units for offshore and maritime operations. The contracts will generate activity in
