Edinburgh-based oil and gas operator signs Black Sea buy-in
MELROSE Resources said yesterday it had signed a farm-in agreement with Sterling Resources under which it would earn a 32.5% interest in two blocks in the Black Sea, offshore Romania.
Abandonment market ‘worth £15bn’
Offshore oil and gas contractors have been alerted to a £15billion market for services needed to abandon nearly 5,000 platforms and subsea wells in UK waters.
OHM seeing upturn in demand for its services
OFFSHORE Hydrocarbon Mapping, the Aberdeen-based specialist in controlled-source electromagnetic (CSEM) imaging surveys for the oil and gas industry, said yesterday that revenue for the half-year to February 28 was expected to be about £6.1million.
Cairn completes £116m equity fundraising move
CAIRN Energy, the Scottish oil and gas operator, said yesterday it had completed a placing of more than 6.5million new shares with institutional investors.
Weir hails 2008 as its best year yet
SCOTTISH engineer Weir Group said yesterday that 2008 had proved to be the best operating year in its history.
New Apex facility defies market conditions to create 12 jobs
APEX Tubulars Inspection Services, the Aberdeen-based provider of casing and drillpipe inspection and repair services to the oil and gas industry, has defied market conditions and responded to client demand by investing £1million in a new machine shop, creating 12 jobs.
Industry’s highest achievers set for final showdown
THE finalists for this year's Scottish Offshore Achievement Awards - known as the Oil Oscars - have been announced.
Tullow Oil boosted by new funds and significant find
Tullow Oil said yesterday it had secured £1.43billion in reserve-backed loans to replace existing debt and to fund future capital commitments, including development of its world-class Jubilee discovery offshore Ghana.
Petrofac unfazed by global downturn
OIL service group Petrofac said yesterday that, despite the severe downturn in the global economic outlook, it could report excellent growth in 2008 and was well positioned for further strong growth in 2009 and beyond.
Energy and venture-capital firms team up
An emerging player in the venture-capital market, Edinburgh-based Par Equity, has teamed up with Aberdeen-headquartered Senergy Alternative Energy.
Design consultancy staffs up as expansion continues
ABERDEEN design and draughting specialist Cadherent has tripled staffing levels and increased the size of its offices by 50% as it promises to push ahead with further expansion plans in 2009.
Talisman reports 69% surge in income in ‘year of change’
Talisman Energy, the Canadian oil and gas operator which has significant interests in the UK North Sea and Norway, said yesterday that 2008 was a year of change for the company.
Senergy on course for further growth
Senergy, the diversified energy industry service provider, said yesterday it was aiming to build on growth to date which had resulted in annual turnover rising to £70million.
Sevan Marine considers bid for one of its rigs
Sevan Marine, the "round rig" oil operator, said yesterday it had received a preliminary bid for one of its rigs.
Wood Group to issue year-end results
INTERNATIONAL energy services company Wood Group, which has its headquarters in Aberdeen, is to issue its year-end results on Tuesday.
Drilling contractor takes heart from higher income
NORTHERN Offshore, the Oslo-listed oil and gas drilling contractor, has reported a significant increase in earnings in 2008 compared to the year before.
Ramco seals deal for Iraq joint venture
Ramco Energy of Aberdeen said yesterday the joint venture between state-owned Iraqi Drilling Company and Ramco's 32.7%-owned Mesopotamia Petroleum had agreed a deal to explore for oil in the Middle Eastern country.
Hunting eyes potential acquisitions
Hunting, the international energy services company, said yesterday it was focused on four acquisitions - one with operations in Aberdeen - and was confident deals could be concluded within two months.
Oil industry warned over impact of downturn
THE former vice-president for the UK with oil field services giant Halliburton said last night in Aberdeen that the oil industry was used to price-driven "boom and bust" cycles, but the present cycle was totally unexpected.
Focus on core services is paying off, says Cosalt
Cosalt, which provides safety equipment and services to the offshore oil and gas and marine industries, said yesterday that after exiting its last legacy businesses its focus on core services was paying off.
Sibir Energy suspends chief as investigation launched
Sibir Energy, the London-listed but 100% Russia-focused oil and gas operator, said yesterday it had suspended chief executive Henry Cameron.
Dana buoyed by new oil discovery
Dana Petroleum, the Aberdeen-headquartered oil and gas operator, said yesterday it had made a third oil discovery in the Rinnes area north-east of Shetland.
Report reveals end-of-year slump in oil and gas deals
The value of deals in the worldwide oil and gas industry reduced progressively throughout 2008 before slumping in the final quarter of the year following the dramatic dip in oil prices, according to a new report.
Aker Solutions takes comfort from results
Oil and gas engineering and construction company Aker Solutions reported yesterday fourth-quarter results which beat market expectations, and at the same time gave a positive outlook on its prospects.
Recipe for the wellbeing of the offshore population
ESS Support Services Worldwide provides integrated catering, hotel-keeping and facilities management services to the offshore oil and gas and marine industries.