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PGS and EMGS Settle Patent Disputes

April 14, 2016

Two Norwegian seismic players, Electromagnetic Geoservices (EMGS) and Petroleum Geo-Services (PGS) have entered into an agreement to settle the two companies’ patent disputes. In 2013 and 2014, EMGS filed a lawsuit in the UK and Norway against PGS for patent infringement relating to PGS’ Towed Streamer EM technology and EMGS’s “Refracted Wave Patent” Furthermore, in March 2015, PGS filled a complaint… Continue Reading »

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Marathon Oil Signs Deals To Sell $950M Of Assets

April 13, 2016

Marathon Oil Corporation said on Monday it had signed agreements to sell non-core assets for $950 million, bringing its total sales through divestitures to about $1.3 billion since last August. The oil and natural gas producer, which did not identify the buyers, said it will divest all of its Wyoming upstream and midstream assets for… Continue Reading »

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U.S. Looks to Shut Halliburton-Baker Hughes Merger

April 10, 2016

Halliburton and Baker Hughes Incorporated have said they intend to ‘vigorously contest the U.S. Department of Justice’s (DOJ) effort to block’ their pending merger. Namely, the DOJ filed a civil antitrust lawsuit on Wednesday to stop the merger between two of the world’s largest oilfield-services companies as it believes the deal would lead to higher prices and eliminate competition…. Continue Reading »

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US Judge Approves BP Civil Settlement With Government Over 2010 Spill

April 6, 2016

U.S. Judge Carl Barbier granted final approval on Monday to BP Plc’s civil settlement over its 2010 Gulf of Mexico oil spill after it reached a deal in July 2015 to pay up to $18.7 billion in penalties to the U.S. government and five states. The company at the time said its total pre-tax charges… Continue Reading »

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BP, CNPC Sign First PSC for Shale Gas Exploration in China

April 2, 2016

BP plc and China National Petroleum Corporation (CNPC) have signed the first production sharing contract (PSC) for shale gas exploration, development and production in the Neijiang-Dazu block in the Sichuan Basin, China. The contract will cover an area of approximately 1,500 square kilometers and positions CNPC as the operator of the project. This PSC is… Continue Reading »

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New Subsea Cable Connecting Perth to Singapore Announced

April 2, 2016

Singtel, SubPartners, and Telstra have entered into a Memorandum of Understanding (MoU) to build a new international submarine cable, APX-West, connecting Perth and Singapore.  The new APX-West submarine cable is expected to begin construction by the end of July 2016 and is scheduled to be completed in 2018. Once completed, the new submarine cable will… Continue Reading »

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Non-Oil Company Takes CSV Polar King on Charter

April 2, 2016

Norway’s GC Rieber Shipping has entered into a time charter agreement with Nexans Skagerrak, a subsidiary of Nexans Norway, for the CSV Polar King. The charter, which starts in January 2017, is set for a fixed period of about 8.5 months, with options for up to 16 months additional work. The vessel will conduct survey, trenching and… Continue Reading »

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Aker Solutions Clinches Subsea Contract from BP

March 31, 2016

Aker Solutions has won a global framework agreement to deliver engineering and project management services at BP-operated subsea oil and gas fields. The contract has a fixed period of five years and may be extended by two years. It covers subsea engineering services, asset integrity management and operations support. “We are delighted to partner with BP… Continue Reading »

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Harkand in North Sea Pipeline Inspection for TAQA

March 30, 2016

Harkand, an inspection, repair and maintenance (IRM) company, has secured a scope of work with TAQA in the North Sea. The company’s Aberdeen office will deliver a pipeline inspection campaign across TAQA’s fields in the Northern and Central North Sea. The campaign is expected to get underway in summer 2016 and will include project management and… Continue Reading »

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Schlumberger–Cameron Deal Gets Chinese Consent

March 29, 2016

The Chinese Ministry of Commerce (MOFCOM) has cleared a proposed merger between the world’s largest oilfield services company, Schlumberger, and Houston-based flow equipment specialist, Cameron, without any conditions, the companies informed on Friday. As a result of the MOFCOM approval, the parties said they intend to close their transaction on April 1, 2016. The definitive… Continue Reading »

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