Offshore
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Hercules fights on as Saudi Armco delays contract termination
Houston: Hercules Offshore has revealed overnight that Saudi Aramco has extending the notice of termination on jackup rig Hercules 261,…
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ExxonMobil ahead of expectations with offshore Angola project
San Francisco: ExxonMobil has begun oil exploration at its offshore Angola project Kizomba Satellites Phase 2 earlier than scheduled, the…
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Shell ready and waiting for green light for Arctic drilling campaign
San Francisco: Shell is still waiting for final approval of permits to its planned resumption of oil exploration in the…
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Topaz Energy and Marine fixes $550m facility
Dubai: Middle Eastern OSV operator Topaz Energy and Marine has secured a new $550m facility. The facility is arranged over…
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Hercules Offshore has slashed its workforce by 40% so far this year
Houston: Houston-based Hercules Offshore has slashed its workforce by 40% this year, company CEO John Rynd told investors on Wednesday.…
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North Energy fires CEO Erik Karlstrøm
Oslo: Norwegian offshore exploration firm North Energy has announced today that Erik Karlstrøm, the company’s ceo, has been relieved of…
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Material adverse change in light of falling oil prices
June Ho and Joe McGladdery from Wikborg Rein discuss a clause we may hear a lot more about as oil…
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Havila Shipping gets Shell PSV extension
Oslo: Norwegian offshore vessel owner Havila Shipping has said today that Shell has declared a one year option on the PSV…
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Fatal fire on Abkatun Permanente rig could cost Pemex $780m
Mexico City: Mexico’s state oil company Pemex could suffer losses as high as $780m relating to the explosion and fatal…
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Cairn India suffers its largest loss ever
Mumbai: Exploration and production (E&P) giant Cairn India has posted its biggest loss ever, in the fourth quarter of fiscal…
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Reinertsen downsizes workforce
Oslo: Norwegian offshore services provider Reinertsen is sending 350 to 400 employees to the unemployment office. The majority are engineers,…
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Oceanteam secures loan
Oslo: OSV operator Oceanteam Shipping’s subsidiary RentOcean has signed a EUR15m revolving term loan facility with NIBC Bank. The facility…
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Myanmar: Still the Field of Dreams or Nightmare on Elm Street?
Having attended and presented a paper at the April Myanmar Offshore Oil and Gas Summit, it was apparent that there…
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Kleven takes the carat from De Beers
Oslo: De Beers Marine Namibia, part of diamond mining and exploration firm De Beers Group, has firmed up its contract…
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Subsea construction vessel hull sections carried from Singapore to Baku
London: Two hull sections for a “state-of-the-art” subsea construction vessel being built in Azerbaijan are to make their way from Singapore…
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Icon Offshore gives CEO and COO six months to fight corruption claims
Kuala Lumpur: The board at under fire Icon Offshore have agreed to give their CEO and COO up to six…
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Economou delays drillship deliveries at Samsung
London: Economou-led Ocean Rig has delayed delivery of two drillships it has under construction at Samsung Heavy Industries, South Korea. The…
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Groups opposing Arctic drilling petition SEC to investigate Shell’s regulatory filings
Washington: Opponents of Shell’s planned return to Arctic oil exploration petitioned the US Securities and Exchange Commission (SEC) on Monday…
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Congressman goes on record opposing offshore Atlantic drilling
San Francisco: Prominent US Congressman Mark Sanford burst through the door he had been pushing at in recent weeks when…
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Caramin Petroeum, Makamin Offshore and Petro Allied in three-way hook-up
Kuala Lumpur: Malaysian oil and gas engineering specialist, Caramin Petroleum, has announced that subsidiary Caramin Engineering Services has entered into…
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