Subsea Industry continue to grow in UK
A new study carried out by Arthur D. Little and commissioned by industry body Subsea UK has revealed that the Subsea oil and gas sector has grown from £3.35 billion in 2006 to £4.3 billion in 2007. Full text
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Aker Solutions takes full control over Aker Marine ContractorsAker Solutions ASA has acquired an additional 30% share in Aker Marine Contractors from Taubåtkompaniet AS. "This acquisition reflects our long term strategy to expand our foothold and further strengthen our position across the value chain of marine operations and oilfield services", says Mads Andersen, executive vice president of Aker Solutions. Full text |
Latest Subsea News:
Downhole Products Receives Queen's Award for Enterprise
IMCA passes 500 members worldwide
LNG: Powering the Future – A $106 billion market 2008-2012
First Subsea Europe event heads for London
Technip and Geogreen join forces for subsea CO2 capture
ENI enjoy exploration success making it a new major subsea industry player
Technip take over oil and gas engineering company EPG
Aker Solutions boosts its well service business through acquisition of Qserv
Offshore Spend to increase significantly in the years to come
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Market fundamentals driving oilfield services investment boom
Today, Douglas-Westwood Limited, the energy business consultants, announced it has provided advisory services to $10 billion of energy related transactions during 2007. Andrew Reid, director of Transaction Services, commented, “2007 has proven to be highly active as far as energy related M&A activity is concerned. Although our work is predominately global, the UK market is still highly influential in the raising of private equity and debt and we expect to see this continue at least for the first half of 2008”. Full text
ExxonMobil move into Libya exploration
The National Oil Corporation signed an Exploration and Production Sharing Agreement with ExxonMobil Libya limited for seismic and exploration drilling. Full text
The oil and gas skills shortage could be reduced if..
Seventy per cent of the UK-based oil and gas field operators and contractors that took part in the ninth Aberdeen and Grampian Chamber Oil and Gas Survey said that they found it difficult to recruit enough skilled staff. This can have a knock-on effect and cause delays to major North Sea projects. Full text
Expro is Subsea Company of the Year
International oilfield service company Expro has won the coveted ‘Subsea Company of the Year’ award at the Subsea UK Business Awards 2008. Full text
Aker and Expro with joint intervention marketing
Aker Oilfield Services Ltd has signed a letter of intent with Expro International Group Plc (“Expro”) to jointly market its state of the art fleet of well intervention vessels together with Expro’s propriety AX-S riserless well intervention technology.
Full text
John Westwood - A 100 million car environmental disaster
“I just could not believe the scale of my numbers – if we could stop burning off the 150 billion cubic meters of natural gas per annum, that is a waste product of oil production, it would be the CO2 greenhouse gas equivalent of removing 100 million cars from the world’s roads; one seventh of the total global car population.” Full text
46 companies nominated for the 20th licensing round of Norway
The Ministry of Petroleum and Energy have received nominations from 46 companies for blocks for the 20th licensing round on the Norwegian continental shelf. In the 19th licensing round, 19 companies participated in the nomination process. 301 blocks or parts of blocks have been nominated. Full text
John Westwood’s speech at the SUT Scholarship Dinner at the Petroleum Club
John Westwood’s speech at the SUT Scholarship Dinner at the Petroleum Club, Houston January 9th 2008 were he spoke on "Of Presidents & Power; of Energy & Elections". Douglas-Westwood Limited is renowned for its forecasting work in the energy industries, having served investment banks, energy industry players and contractors the world over. Full text
Subsea Deepwater Market to spend $25 billion annually by 2012
The offshore oilfield services sector is facing unprecedented levels of business; some companies that
might normally have a six-month backlog are now booking work for 2011. Recent $100 oil has only
served to add to the already massive demand for the products and services of firms that supply the
offshore oil & gas companies. Suppliers are virtually beating off the customers, but demand continues
to grow. Full text