Asset Management
The deal adds over 1,000 potential drilling locations and almost doubles oil production for Houston-based Magnolia.
The sale for $1.8 billion of Solenergi Power, the holding company for Sprng, which develops and operates solar and wind projects across India, follows other realignment actions by the supermajor.
The deal is the largest acquisition in Mitsubishi Corp.'s history and adds one of North America's leading shale gas assets to its portfolio.
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Stress Engineering Services (SES) acquired Laserstream, a company specializing in laser mapping of tubular assets. The acquisition will add high-resolution pipe inside-diameter scanning hardware and imaging software to SES’ technology portfolio for its service offering of nondestructive testing, asset condition-based maintenance and monitoring, predictive data analyti…
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Sparrows Group was awarded a 5-year contract with Tengizchevroil (TCO) to deliver specialist lifting inspection services for the Tengiz field in Kazakhstan.
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Saudi Arabia’s oil minister said OPEC must continue to work toward market stability to allow needed oil and gas investment to go forward. -
Layoffs have begun at Occidental Petroleum, which needs to slack costs after buying Anadarko, as well as Apache.
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The approval clears the way for final investment decision on the offshore project, which includes a standalone FPSO expected to have a production capacity of 100,000 B/D. First oil is targeted for 2023.
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The plan will extend production of the largest field on the Norwegian Continental Shelf to 2040, while also deferring plans to decommission the Statfjord A platform. Statfjord A was originally scheduled to be decommissioned in 2022.
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GTT has been contracted to provide the Hyundai Heavy Group companies with equipment for eight LNG carrier newbuilds. Hyundai Heavy Industries (HHI) and Hyundai Samho Heavy Industries (HSHI) will build the vessels, with each company set to build four vessels. Each vessel will be capable of transporting 174,000 m3 of LNG.
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Global OPEX is falling, and the UK has emerged as a cost-cutting powerhouse among global offshore regions feeling the squeeze of uncertain oil prices. In pursuit of lower unit prices, Rystad Energy says that operators and contractors have begun nurturing operational improvements.
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The deal comes months after the jointly owned Petrogas NEO UK acquired several UK North Sea assets, including a $635-million purchase of Total's stakes in various fields last July. The 2-year deal with Petrofac is valued around $50 million.
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Talos is hoping to retain its operatorship of the major discovery it made in 2017 offshore Mexico after a reserves audit confirmed the reservoir is shared between two offshore blocks.
