Oilfield Services

Transocean to buy Norwegian rig firm Songa Offshore for $1.1 billion

August 15, 2017 | Deepwater, Mergers, Acquisitions & JVs, Rigs & Vessels

London, UK | – Transocean Ltd, one of the world’s biggest drilling rig operators, has agreed to a deal to buy Norwegian competitor Songa Offshore SE for 9.1 billion Norwegian crowns (US$1.1 billion), the two companies said Aug. 15. The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean’s position in offshore drilling as Songa is Norwegian oil major Statoil ASA’s largest drilling service provider. The offer values Songa shares at 47.50 Norwegian crowns each, a 39.7% premium over …

Nigeria’s NNPC collaborates with Halliburton for oil search in inland basins

July 22, 2017 | Exploration / Discoveries, New Technology, Nigeria

Lagos, Nigeria | – A new vista has been added to the ongoing search for commercial hydrocarbon in the inland sedimentary basins by the Research and Development Division of the Nigerian National Petroleum Corporation (NNPC), following ongoing collaboration with the US based Halliburton Corporation to achieve the exact location of viable crude oil deposits. Group General Manager in charge of the R&D Division, Dr. Bola Afolabi, said in Port Harcourt that the collaboration with Halliburton would help fast-track the inland basin exploration efforts through the …

Halliburton acquires Summit ESP

July 06, 2017 | Oilfield Services, United States & Canada

London, UK | – American multinational corporation and one of the world’s largest oil field service companies, Halliburton has announced the acquisition of Summit ESP, a leading provider of electric submersible pump (ESP) technology and services. The addition of Summit’s artificial lift offerings and industry-leading customer service strengthens Halliburton’s artificial lift portfolio for its global customers. “The acquisition of Summit expands Halliburton’s existing artificial lift capabilities and increases our overall leading position in North America oilfield services,” said Jeff Miller, president and CEO of Halliburton. …

Schlumberger, First E&P, NNPC sign $700 million deal to develop offshore fields in Nigeria

July 05, 2017 | Budget & Investment, Nigeria, Oilfield Services

Anyala and Madu fields will pump 50,000 barrels of oil and 120 million standard cubic feet of gas daily Abuja, Nigeria | –  Nigeria’s state-owned oil company said it signed a deal with Schlumberger to provide $700 million for the development of two oil fields in the country’s crude-rich south. The Anyala and Madu fields, estimated to have reserves of 193 MMbo and 800 billion scfg, will pump 50,000 bopd and 120 MMcfgd on completion of field development in early 2019, the Nigerian National Petroleum …

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 …