Offshore - Oil & Gas

  • Oil at $50: what it means for offshore companies

    This will be more certain in case of those focused on deepwater and ultra-deepwater activities as significant overcapacity precludes OFS companies from negotiating prices much higher than today’s depressed levels, the agency stated.

  • Why Trump's offshore drilling order could...

    US President Donald Trump signed an executive order to extend offshore oil and gas drilling to areas that have been off limits - a move meant to boost domestic production but which could fall flat due to weak industry demand for the acreage.

  • Trump to Sign Executive Orders That Enable...

    U.S. President Donald Trump this week will sign new executive orders before he completes his first 100 days in office, including two on energy and the environment , which would make it easier for the United States to develop energy on and offshore.

  • Introducing AkzoNobel's innovative...

    AkzoNobel, a leading global paints and coatings company, is underlining its commitment to invest in the country and expand its presence by participating in the Iran Oil Show 2017

    AkzoNobel will be presenting a selection of its innovative protective coatings products at the show, which takes place from 6 - 9 May in Tehran. These include its international brand of innovative products from Chartek, Interchar, Ceilcote and Enviroline product ranges, used in industries including oil and gas, mining and power – all high-growth sectors in Iran.

  • ONGC uses offshore design and analysis software...

    A public-sector undertaking of the government of India headquartered in Dehradun, ONGC is a multinational corporation and the country’s largest oil and gas exploration and production company. It began oil exploration and production offshore India in 1976, and today operates 265 fixed platforms in water depths ranging from 25-90 m (82-295 ft). Most of the jacket-type platforms designed for 25 years of service had outlived their design lives. Some platforms underwent modifications to meet changing conditions or to enhance oil recovery, while others were considered noncompliant with Oil Industry Safety Directorate (OISD) requirements.

  • Flying drones generate power from wind

    Technology that uses flying drones to generate electricity from the wind is getting a boost from the Germany utility EON SE, which is backing a test project that may show if it can help cut the costs of producing power offshore.

  • Trump’s energy team: a big win for big oil?

    Trump’s cabinet picks include a host of oil industry veterans and allies, including former ExxonMobil CEO Rex Tillerson as Secretary of State, former Texas governor Rick Perry as Secretary of Energy and climate change sceptic Scott Pruitt as head of the Environmental Protection Agency. With the oil lobby pushing for more access to offshore oil licences and regulatory reform, could this be the cooperative cabinet that the industry has been hoping for?

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Gulf Drilling International signs US$ 925 million structured financing facility with QIB

Qatar Islamic Bank (QIB), Qatar’s leading Islamic Bank, signs a US$ 925 million (QR 3.4 billion) structured Shari’a compliant financing facility with Gulf Drilling International Limited QSC (GDI). This new facility will be used to re-organize the company’s debt and further enhance its operational and financial performance. QIB successfully originated, structured and executed the transaction which used an innovative financing structure to meet the requirements.

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Norwegian DNO oil and gas reports Q1 net profit, expands drilling in Kurdistan, acquires Origo Exploration Holding

DNO ASA, the Norwegian oil and gas operator, today announced expanded investments, including a doubling of its planned 2017 wells at the Tawke field in the Kurdistan region of Iraq, on the back of strong first quarter results. The company reported quarterly net profit of US$15 million, reversing a net loss of US$31 million in the previous quarter. Revenues were up 83 percent to US$77 million on operated production averaging 115,900 barrels of oil equivalent per day.

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Middle East offshore activity bucks global downward trend with 2.6% increase

2016 witnessed a decline in Offshore Supply Vessel (OSV) activity in all regions of the world except the Middle East. Stronger results expected in 2017, as oil prices head towards $60 per barrel. The Middle East was the only global market to witness an increase in demand in Offshore Supply Vessel (OSV) activity in 2016 of 2.6%, indicating that regional government investment continues to support the sector’s performance since the fall of oil prices in 2014.

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Oil at $50: what it means for offshore companies

This will be more certain in case of those focused on deepwater and ultra-deepwater activities as significant overcapacity precludes OFS companies from negotiating prices much higher than today’s depressed levels, the agency stated.

English

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