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Saipem delisting? Italian oil services giant SPMI on the brink after cash call shortfall

Saipem delisting? Italian oil services giant SPMI on the brink after cash call shortfall   A possible delisting of the Italian energy service company Saipem (SPMI)  hoved into view last week after a mishandled cash call saw the firm’s stock price tumble. Saipem saw its stock price crater on 12 July, plunging 48.6% after markets baulked at its demands for a €2bn cash call. Saipem provides infrastructure services to the oil and gas sector and its major shareholder,...

Aberdeen Football Club Community Trust Thanks Local Company For Their Sponsorship

Aberdeen Football Club Community Trust Thanks Local Company For Their Sponsorship   KR Group were delighted to present new football t-shirts to the children attending AFCCT’s Holiday Camp this year. “As parents, Kenny and I have been heavily involved in many sport initiatives over the years,” explains KR Group Director, Nicola. Kenny and Nicola founded Steel and Cladding company, KR Group in 2003. Known as ‘KR Steel’ at the time, the business was ru...

Oil boom to bring double-digit growth surge in Saudi Arabia

Oil boom to bring double-digit growth surge in Saudi Arabia   High oil prices will lift Saudi Arabia’s growth into double-digits this year, the fastest pace since 2003, predicts Bloomberg Economist Ziad Daoud. The kingdom will pump crude at near-capacity to meet rising global demand. Higher prices are also filling the government’s coffers, providing room to increase spending on activities such as construction and services, he says. Oil output is set to rise more than...

UK launches biggest electricity market reform in a generation

UK launches biggest electricity market reform in a generation   Major review into Britain’s electricity market design launched by UK Government to radically enhance energy security and cut costs of electricity for consumers in the long term Proposals out for initial consultation include exploring changes to the wholesale electricity market that would stop volatile gas prices setting the price of electricity produced by much cheaper renewables Coupled with immediate acti...

Worley wins unconventional gas work from Aramco

Worley wins unconventional gas work from Aramco   Australia's Worley has secured project management services contracts from Saudi Aramco for unconventional gas projects both in and out of the kingdom, it said on July 18. Under these three-year deals, Worley will provide front-end engineering and design, detailed design support, project management services and construction management services. They include two-year extension options. The value of the contracts was not disclos...

Vysus Group and Antea North America forge partnership to deliver innovative end-to-end solution

Vysus Group and Antea North America forge partnership to deliver innovative end-to-end solution   Vysus Group has forged a software partnership with Antea North America, a leader in innovative risk-based asset integrity management (AIM) software with 3D digital twin integration, to deliver an innovative solution for owner operators in oil & gas, petrochemical, and power generation industries in the region. This combined offering will provide clients with a seamless turn-key ass...

CNOOC launches self-developed subsea Xmas tree oil/gas extracting system in Bohai Sea

CNOOC launches self-developed subsea Xmas tree oil/gas extracting system in Bohai Sea   China National Offshore Oil Corporation (CNOOC) launched its first self-developed subsea Christmas tree (Xmas) system in the Bohai Sea, Chinese media outlet the papper.com reported on Sunday, securing energy supplies for fishery and marine shipping uses. The subsea Xmas oil and gas extraction system was applied in the Jinzhou 31-1 gas filed in Bohai Sea with trial daily output of 310,000 cubic m...

Petronas taking steps to protect global assets

Petronas taking steps to protect global assets   Oil prices extended gains on Monday, propped up by a weaker dollar and tight supplies that offset concerns about recession and the prospect of widespread COVID-19 lockdowns in China again reducing fuel demand. Brent crude futures for September settlement rose 69 cents, or 0.7 percent, to $101.85 a barrel by 0421 GMT, after a 2.1 percent gain on Friday. US West Texas Intermediate crude futures for August delivery edged up 27 cents,...

Tackling the skills crisis: digital training becoming a must-have

Tackling the skills crisis: digital training becoming a must-have By Mike Adams, Co-founder, Norwell EDGE   There’s been a sharp change in the UK’s domestic energy landscape as a result of the war in Ukraine and political events closer to home. With operators being urged to increase production, our industry is once again facing a critical shortage of skilled workers. Changing how we think about training is central to tackling the challenge head-on. A recent report by...

Brunei Partnership Yields APAC Growth

Brunei Partnership Yields APAC Growth   A leading international provider of innovative solutions for the oil and gas cementing and completions market has further underlined its commitment to the APAC region by deploying equipment in Brunei for the first time. Aberdeen-based Vulcan Completion Products (Vulcan) is working with exclusive Brunei agent OVB and recently won a significant contract to supply floats and centralisers equipment and accessories to Shell Brunei. The five-year c...

Multiple wins for ModuSpec in the UKCS

Multiple wins for ModuSpec in the UKCS   ModuSpec is delighted to have secured multiple recent project wins in the United Kingdom Continental Shelf (UKCS) for provision of rig intake & inspection services. The contract awards include supporting the intake of a light well intervention vessel, with the scope comprising verification of equipment and assessing the robustness of the health, safety, environmental management systems, as well as a deep dive into the competency manageme...

Aker Solutions issues subsea, FPSO construction updates

Aker Solutions issues subsea, FPSO construction updates   Aker Solutions is progressing construction for various major offshore projects in Norway and Australia, according to the company’s latest results statement. Activity is increasing on the Johan Castberg project in the Barents Sea, after the hull of the FPSO arrived at Stord in April. Several prefabricated modules have since been installed, including the lower part of the turret. The second batch of five standardized...

GNPC kicks off Saltpond Field decommissioning project

GNPC kicks off Saltpond Field decommissioning project   The Ghana National Petroleum Corporation (GNPC) has officially commenced the decommissioning of the Mr. Louie Platform in the Saltpond oil field. The decommissioning project is estimated to last 12 months. Being the first decommissioning project of its kind in Ghana, GNPC, its lead contractor, as well as other relevant stakeholders, showed their readiness to work hand-in-hand to ensure the success of the project. Having...

AIS Survivex Announces Contract with Stork

AIS Survivex Announces Contract with Stork    Leading UK training provider, AIS Survivex, has secured a major five-year contract to deliver Training Management Services (TMS) for Stork in the UK.    AIS Survivex, part of 3t Energy Group, has delivered training services for Stork for more than 10 years and the new bespoke TMS solution will fully digitalise Stork’s training management process. AIS Survivex and its technology partner, 3t Transform, will deploy it...

Apache names former BP deputy CEO as new chairman

Apache names former BP deputy CEO as new chairman   Apache has named the former deputy CEO of BP as its new chairman. H. Lamar McKay takes over the role on September 1 from John Lowe who has announced his retirement. The 63-year-old was appointed to the Apache board in February 2021, having joined the firm from BP where he was chief transition officer from October 2019. Prior to that he served as the deputy CEO at BP from February 2016. Since beginning his career in 1980 w...

Cybersecurity spending in the energy industry will rise to US$10 billion by 2025

Cybersecurity spending in the energy industry will rise to US$10 billion by 2025   The rapid digitalisation of the oil and gas industry has made the industry increasingly vulnerable to cyberattacks, says GlobalData. The leading data and analytics company notes that companies must now fortify their cybersecurity posture in line with their digitalisation strategy or risk financial and reputational harm. GlobalData’s latest report, ‘Cybersecurity in Oil and Gas – The...

Sempra Announces Partnership Framework with ConocoPhillips

Sempra Announces Partnership Framework with ConocoPhillips   Sempra today announced that its subsidiary, Sempra Infrastructure, and ConocoPhillips have entered into a heads of agreement (HOA) to develop Sempra Infrastructure's Port Arthur LNG project and jointly participate in other related energy infrastructure in Southeast Texas and the Pacific Coast of Mexico. "At Sempra, we believe bold new partnerships will be central to solving the world's energy security and dec...

NSTA announces one of UK’s first non-exec director job shares

NSTA announces one of UK’s first non-exec director job shares   The North Sea Transition Authority (NSTA) has today announced what is thought to be one of the first non-executive director job share positions on a UK board. The position is being shared by Fiona Mettam and Vicky Dawe, who also job share the role of Director of Energy Development and Resilience at the Department for Business, Energy and Industrial Strategy (BEIS). The post holders are a representative of the...

DeltaTek Global Receives U.S. Patent for its QuikCure® Technology

DeltaTek Global Receives U.S. Patent for its QuikCure® Technology   Well construction expert DeltaTek Global today announced its QuikCure® technology has received a U.S patent, confirming the unique attributes and technical make-up of the company’s rapid cement hydration offering. Already widely used globally, this new U.S. patent recognizes the novelty and innovation of QuikCure, which allows operators in deepwater basins, including the Gulf of Mexico, to save rig time...

Aberdeen office market eyeing boost from oil price as letting activity rebounds

Aberdeen office market eyeing boost from oil price as letting activity rebounds   Aberdeen’s office market has witnessed a “relatively positive” first half as it continues to recover from the effects of the pandemic with the high oil price expected to further buoy activity, new figures suggest. Some 60,000 square feet of space was transacted in the second quarter between April and June, according to Knight Frank. The activity for the last three months takes the...
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