Topic: Oil & gas

Global Marine Group sold for USD 250 million

PRESS RELEASE – Investor HC2 Holdings and Fugro have sold offshore engineering specialist Global Marine Group to private equity firm J.F. Lehman & Company for a sum of USD 250 million. Global Marine Group is made...Read more
|Comment|author: Tobias Pieffers

VOS Singapore secures new ship management contract

PRESS RELEASE – VOS Singapore has secured a new third-party ship management contract with a Bruneian Offshore Support Vessel owner and operator Lantana Services.  The vessel in question is the 2011-built anchor-handling tug supply (AHTS) vessel...Read more
|Comment|author: Tobias Pieffers

Drill rigs are being sold at historic low prices

PRESS RELEASE – VesselsValue sounds the alert on MODU (Mobile Offshore Drilling Unit) values following the sales of two modern premium jack-up units to separate buyers at historic lows. Ravi Mehrota backed Foresight Drilling has picked...Read more
|Comment|author: Tobias Pieffers

OPEC agrees on further production cuts

OPEC and its partners have agreed to further cut production by 500,000 barrels per day in the first quarter of 2020, bringing their new combined cuts to 1.7 million barrels per day. The decision was...Read more
|Comment|author: Tobias Pieffers

New record-breaking contract for Boka Vanguard

Boskalis has secured a new record-breaking contract for its flagship heavy transport vessel, Boka Vanguard. The giant semi-submersible ship will transport a 91,000-tonne FPSO from China to Brasil. With the new contract, the Boka Vanguard is...Read more
|Comment|author: Tobias Pieffers

Total awards Bourbon logistics contract in Namibia

Total E&P Namibia has selected Bourbon Marine & Logistics to support a deep offshore exploration campaign in South Namibia in 2020. The contract is a welcome addition for the financially struggling company which recently suspended...Read more
|Comment|author: Tobias Pieffers

Media: Saipem and Subsea 7 consider merger

Saipem and Subsea 7 are considering to merge to weather the still difficult circumstances in the oil and gas services market. If the deal goes through, it would create the fourth-largest oilfield service company, after...Read more
|Comment|author: Tobias Pieffers

TechnipFMC awarded new contracts by Woodside and Shell

PRESS RELEASE – TechnipFMC has been awarded a significant EPCI-contract by Woodside for the development of the Pyxis and Xena fields, located offshore North-West Australia.  TechnipFMC will design, manufacture, deliver and install subsea equipment including subsea...Read more
|Comment|author: Tobias Pieffers

French banks want to buy troubled Bourbon

A group of French Banks have placed a takeover offer to buy the also French and insolvent OSV giant Bourbon. The financially troubled company this morning asked Euronext Paris to suspend the listing of its...Read more
|Comment|author: Tobias Pieffers

Subsea 7 acquires 4Subsea

PRESS RELEASE – Subsea 7 has acquired 4Subsea, a provider of technology and services that help operators maintain production from subsea oil and gas fields and offshore wind farms. 4Subsea will function autonomously within Subsea 7,...Read more
|Comment|author: Tobias Pieffers