Monday, May 20, 2019

Oil And Gas Market News

800bln Undiscovered Barrels of Oil and Gas Exist Globally

Graph: Rystad Energy

Total greenfield project sanctioning, summed up to the present day, only accounts for 40% of estimated volumes of offshore projects ever being sanctioned, said Rystad Energy…

Wood's Profit Beats Estimates

© Michael Flippo / Adobe Stock

Wood Plc's 2018 profit topped market expectations as the British oilfield and engineering services provider trumpeted the success of its 2017 takeover of smaller rival Amec…

Wood Secures Major Contracts in Abu Dhabi

 Image: Wood

Aberdeen-based energy services firm Wood been awarded three new, call-off contracts totaling $53 million by ADNOC Onshore, a subsidiary of Abu Dhabi National Oil Company (ADNOC).Project…

Henderson Acquires HP Piping Solutions

Logo courtesy of Henderson

Drilling rigs and capital drilling equipment sales and service provider Henderson said it has acquired high specification/high pressure fabrication company HP Piping Solutions…

James Fisher Bolsters Middle East Capabilities

Photo: James Fisher

James Fisher and Sons plc (James Fisher) is bolstering its offering in the Middle East (ME) with the addition of further subsea-focused capabilities to strengthen its position…

Fugro H1 Profit Boosts Shares

(File photo courtesy Fugro)

Dutch deep-sea prospector Fugro on Wednesday surprised the market with a first-half profit, driven by strong growth in offshore wind projects, sending its shares sharply higher.The company, hit by a downturn in the

Unique Group Enters into West Africa JV

Subsea and offshore solution provider Unique Group said it has formed a joint venture (JV) with Nigeria-based Charkin Maritime & Offshore Safety Ltd, a professional training…

HEECO Eyes New Markets for Expansion

Photo: HEECO expansion and development

The Humber Electrical Engineering Company (HEECO) in the United Kingdom has consolidated its marine presence and developed into new oil and gas markets.The Hull-based electrical…

Interview: Antony Croston, Trelleborg Offshore

Antony Croston (Photo: Trelleborg)

Antony Croston is Business Group Director at Trelleborg’s offshore operation in Houston, responsible for the externally-facing functions of the business covering engineering…

Partners Aim to Improve Riser Performance and Efficiency

Trelleborg said its offshore operation has signed a supply and license agreement with Reel Power Oil and Gas to collaboratively develop and market a new Vortex Induced Vibration…

New Tool for Offshore Inspection

(Photo: AISUS)

Aberdeen-based AISUS has invested a six-figure sum in upgrading and developing cutting edge inspection technology as it looks to further broaden its range of services and increase…

GMG Acquires Fugro’s Trenching, Cable Laying Business

(Photo: Global Marine Group)

Global Marine Group (GMG) will acquire Fugro’s trenching and cable laying business in exchange for an equity stake of around 24 percent in the combined business valued at $65 million…

New MD Set to Scale Up Operations for ClearWELL

Alasdair Fergusson (Photo: ClearWELL Oilfield Solutions)

Flow assurance and production optimization specialist, ClearWELL Oilfield Solutions, has appointed a managing director as the company looks to increase its international footprint.

Offshore Threat Detection Prevents Operational Downtime

Photo: Synectics

Offshore threat detection cannot simply be about security; it also has to focus on identifying and mitigating the risk of operational downtime. This market-led reality is reflected…

GranInvestimentos and Royal IHC Join Forces

Brazilian company GranInvestimentos and Dutch company Royal IHC are joining forces to deliver integrated life cycle solutions to customers in the oil and gas sector. Through this partnership…

UK Welding Firm Eyes Norway, Denmark O&G Market

(Photo: QA Weld Tech)

A U.K. based provider of integrated welding and engineering solutions QA Weld Tech said it is now recognized as a verified and compliant supplier on the Achilles Joint Qualification…

DNV GL's Tørstad Talks Energy Trends

Elisabeth Tørstad (Photo: DNV GL)

When Elisabeth Tørstad took the helm as CEO of DNV GL - Oil & Gas in late 2013, the price of a barrel of NYMEX (WTI) crude oil was more than $100. Today, that price has been halved…

Ampelmann Debuts S-type Walk-to-Work System

Image: Ampelmann

Dutch company Ampelmann says it has designed its latest motion compensation access system, the S-type, as a cost effective and safe option in the transportation of workers and luggage to and from offshore platforms.

Rigmarine Diversifies in Kazakhstan

Photo: Rigmarine

Rigmarine has highlighted synergies between inland and offshore industries as the lifting and marine product specialist looks to meet increasing demand from the mining and power industries via its Aktau…

MEG Energy Seeks Leveraged Loan

Canadian oil and gas company MEG Energy is testing the capacity for oil-related loans with a US$1.235bn deal that will be used to refinance debt and is part of an overall capital restructuring.