SAN FRANCISCO (Reuters) – A flattened U.S. drilling market is weighing down earnings for oilfield services companies and clouding their outlook as they seek to recover from a dramatic decline in demand during the past 12 months. Earnings at equipment and service provider National Oilwell Varco Inc exceeded Wall Street expectations, but they came up [...]

By Aasa Christine Stoltz and Sophie Taylor OSLO/PARIS (Reuters) — French engineering group Technip and Norway’s seismic surveyor Petroleum Geo-Services (PGS) improved their outlooks for 2009 on Thursday, boosting sentiment for the oilfield services sector and their stocks. Technip posted a surprise rise in second-quarter profits, bucking a trend of weak demand in the oil [...]

The board of directors of Dolphin Offshore Enterprises India at its meeting held on July 24, 2009 has decided to sign a memorandum of understanding with Deep Marine Technology (DMT) for setting-up of a joint venture company in India. Also the board has decided to alter the object clause of the memorandum of association of [...]

By Maki Becker BUFFALO, NY — For as long as 175 years, a shipwrecked schooner that had once sailed the Great Lakes, bringing grain and other goods to and from a just-burgeoning Buffalo, has laid virtually unscathed at the bottom of Lake Erie just west of Dunkirk. A group of shipwreck hunters who have been [...]

By John Antczak LOS ANGELES — The deal to close California’s $26 billion budget deficit included a plan to drill for offshore oil, drawing allegations that the fiscal crisis was used for a backroom deal following rejection of the idea by state regulators earlier this year. Democrats agreed to Republican Gov. Arnold Schwarzenegger’s request to [...]

Aker Solutions has signed a contract with Maersk FPSOs to perform the mooring installation work at the Peregrino field offshore Brazil. The contract is the first marine installation job for Aker Solutions in Brazil and marks the start-up of the company’s marine operations unit in the country. Contract value is undisclosed. Scope of work comprises [...]

Neptune Marine Services Ltd announced that it has successfully secured a range of new projects both in Australia and international markets valued at approximately $25 million. All scheduled for completion in the first half of FY2010, the projects include: – A NEPSYS® repair project for a new customer operating in the North Sea. – Fabrication [...]

After an eight-year absence, a bona fide dive shop has surfaced on the island. Island Divers Galveston, 525 25th St., offers lessons, SCUBA equipment for sale or rent, fills tanks and offers travel services. Owner Tom Andersen, who opened the shop about two weeks ago, most recently was a commercial diving instructor for The Ocean [...]