Oilfield Services

ExxonMobil awards FPSO contract to SBM Offshore

June 22, 2017 | Oilfield Services, Rigs & Vessels, South America

London, UK | – American multinational oil and gas corporation, ExxonMobil, has confirmed the award of contracts for the next phase of the Liza project in Guyana – including one for SBM Offshore. SBM Offshore will construct, install, lease and operate a FPSO vessel for the firm. The company’s chief executive Bruno Chabas welcomed the news, and put the award down to the company’s experience. He said: “We are proud that ExxonMobil awarded SBM Offshore the contracts for the Liza FPSO. The Liza Field offshore …

Chevron sells Bangladesh gas fields to Chinese consortium

April 26, 2017 | Asset Acquisitions & Divestitures, Oilfield Services

London, UK | – Chevron Corporation  is selling its three Bangladesh gas fields, worth an estimated $2 billion, to a Chinese consortium as the U.S. oil and gas group looks to shed non-core assets this year. The deal, if completed, would mark China’s first major energy investment in the South Asian country, where Beijing is pumping in billions of dollars in a race with New Delhi and Tokyo for influence. The gas fields, which account for more than half of the total gas output in Bangladesh, are …

Shell reopens Bonga deepwater field after turnaround maintenance

April 26, 2017 | Nigeria, Oilfield Services, Rigs & Vessels

Abuja, Nigeria |  – The Shell Nigeria Exploration and Production Company Limited (SNEPCo), a subsidiary of Royal Dutch Shell Plc has reopened the 225,000 barrel-per-day capacity Bonga deepwater oilfield following  turnaround maintenance work, local media reports . The oilfield was shut down on March 4, 2017, for planned maintenance, which involved inspections, recertification, testing and repair of equipment as well as engineering upgrades with Nigerian companies and subsea professional playing key roles. The exercise took off a significant chunk from Nigeria’s crude oil exports, as SNEPCo …

Schlumberger announces new artificial lift management service

March 30, 2017 | Company Operations, Products, Services & Techniques

Houston, Texas | – Schlumberger announced today the introduction of the Lift IQ production life cycle management service, which offers monitoring, diagnostics and optimization of artificial lift systems in real time. This new service securely collects, transmits, evaluates and interprets data from customer wells to improve production efficiency, extend equipment run life and reduce operating costs. The Lift IQ service comprises four service tiers to ensure the best fit for a customer’s unique requirements including visualization, real-time surveillance and diagnostics, well optimization and field optimization. “As …

TechnipFMC secures Ghana onshore facilities construction work

March 21, 2017 | Construction & Installation, Engineering, Ghana

Paris, France |  –  TechnipFMC, a global leader in oil and gas projects, technologies, systems and services has been selected as project manager for construction work on the onshore receiving facilities associated with Ghana’s Offshore Cape Three points project. In a statement on its website on Tuesday, the engineering major said it would be carrying out supply, construction and commissioning works for Eni Ghana E&P, a joint venture vehicle comprising Eni, Vitol Upstream Ghana and Ghana National Petroleum Corporation. The facilities, which will be located in …

Technip-FMC merger gets EU anti-trust clearance

November 24, 2016 | Company Operations, Mergers, Acquisitions & JVs, Support Services

London, UK | – Technip S.A,  a company that carries out project management, engineering and construction for the energy industry and FMC Technologies, Inc. an American provider of equipment and services for the energy industry said yesterday that they had received EU anti-trust clearance ahead of their proposed merger. Antitrust authorities in the United States, India, Turkey, Mexico and Russia have already approved the merger deal between the two giant industry service providers. Both firms will hold shareholders’ meetings on December 5 to vote on …

GE to merge business with Baker Hughes into $32 billion oil services giant

November 01, 2016 | Company Operations, Mergers, Acquisitions & JVs, Oilfield Services

London, UK | – General Electric Company, banking on a recovery in oil prices, said on Monday it would merge its oil and gas business with No. 3 oilfield services provider Baker Hughes Inc. GE will own 62.5 percent of the new company, which will have combined revenue of $32 billion (26.30 billion pounds), while Baker Hughes shareholders will own 37.5 percent. Shareholders of Baker Hughes, which had a market value of about $26 billion (£21.37 billion) as of Friday, will get a special one-time …

Sasol completes first ever onshore 3D seismic campaign in Mozambique

October 11, 2016 | Mozambique, Products, Services & Techniques

London, UK | – South African multinational integrated energy and petrochemical company Sasol has completed the first ever three-dimensional (3D) onshore seismic programme, in the Inhassoro field, in Mozambique. This involved acquiring 115 km2 of data in the Inhassoro field, which forms part of Sasol’s onshore production sharing agreement (PSA) licence area. To be developed in phases, the first phase of the PSA licence area development proposes an integrated oil, liquefied petroleum gas (LPG) and gas project adjacent to Sasol’s existing petroleum production agreement (PPA) area. Sasol has made significant progress on Tranche 1 of the PSA development …