Opportune Time for Africa Oil & Gas Industry to consider Change: PwC Oil & Gas Review

JOHANNESBURG, South Africa, August 22, 2016/ — The decline in the global oil price has led to a reduced level of activity across the African continent and had an impact on countries that traditionally depend on oil & gas revenue. Despite the bleak landscape, the African continent still offers significant opportunities in the oil & gas sector. “It is an opportune time for local governments that want to attract Continue reading “Opportune Time for Africa Oil & Gas Industry to consider Change: PwC Oil & Gas Review” »

Militants Kidnap Two Workers Offshore Nigeria

Another offshore kidnapping has happened in the Gulf of Guinea. Two offshore workers have been kidnapped from an offshore support vessel in Nigeria. According to the owner of the vessel, France-based Bourbon Offshore, unknown assailants captured two crew members from the Bourbon Liberty 251 anchor handler on Tuesday, February 23.

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Schlumberger Announces Agreement to Acquire Cameron

Schlumberger Limited (NYSE: SLB) and Cameron (NYSE: CAM) today jointly announced a definitive merger agreement in which the companies will combine in a stock and cash transaction. The agreement was unanimously approved by the boards of directors of both companies.

Under the terms of the agreement, Cameron shareholders will receive 0.716 shares of Schlumberger common stock and a cash payment of $14.44 in exchange for each Cameron share. Continue reading “Schlumberger Announces Agreement to Acquire Cameron” »

Total starts production from Dalia Phase 1A offshore Angola

The French oil giant – Total has started production from Dalia Phase 1A, a new development on its deep offshore operated Block 17, located 135 km off the coast of Angola. Dalia Phase 1A will develop additional reserves of 51 million barrels (Mb) and will contribute 30,000 barrels per day (b/d) to the block’s production. Continue reading “Total starts production from Dalia Phase 1A offshore Angola” »

VAALCO brings online Southeast Etame development well

VAALCO Energy, Inc., an oil production company, has brought online the Southeast Etame 2-H well, the first development well drilled in the Southeast Etame Field, offshore Gabon. According to the company, the well was brought online at the rate of approximately 3,400 barrels of oil per day (approximately 850 barrels per day net to VAALCO). Continue reading “VAALCO brings online Southeast Etame development well” »

Halliburton, Baker Hughes hold off planned merger till Q4 2015

Halliburton Co. and Baker Hughes Inc. reached a timing agreement with the US Department of Justice’s Antitrust Division to extend DOJ’s review of Halliburton’s proposed acquisition of Baker Hughes (OGJ Online, Nov. 17, 2014).

The oil field service companies jointly announced a timing agreement with the federal entity on July 10. It extends the review of the proposed merger to the later of Nov. 25, or 90 days after Halliburton and Baker Hughes certify they have substantially complied with DOJ’s second requests for information. Both expect to do this by midsummer, they said. Continue reading “Halliburton, Baker Hughes hold off planned merger till Q4 2015” »

OneSubsea and Subsea 7 Join Forces for SPS and SURFs

Subsea 7 has signed an agreement establishing a worldwide non-incorporated alliance with OneSubsea, a Cameron and Schlumberger company. The new alliance should see both companies jointly design, develop and deliver integrated subsea development solutions through the combination of subsurface expertise, subsea production systems (SPS), subsea processing systems, subsea umbilicals, risers and flowlines systems (SURF) and life-of-field services. Continue reading “OneSubsea and Subsea 7 Join Forces for SPS and SURFs” »