News Archive for: September 2012

UK explorer Cairn Energy is reportedly selling another 8% of its former subsidiary Cairn India for up to $940 million.

The offering of nearly 153 million shares of Cairn India is being made for between 317.90 rupees and 328.30 rupees per share by Citigroup, according to a source with direct…

Global energy needs will continue to drive demand for the specialized drilling rigs needed to tap ever-deeper offshore oil fields through the end of the decade, fueling increases in daily rental rates as countries such as Brazil exploit recent discoveries, an executive with Ensco said.

U.K.-based Ensco, the world’s second-largest…

Time was that FPSOs were seen as the solution when an oil field was small, too small to justify a permanent facility. And as the ‘deepwater’ era began in the Gulf of Mexico, the talk was of spars and tension leg platforms (TLPs). But now, the FPSO is the…

British oil and gas explorer Faroe Petroleum Plc said it bought stakes in an oilfield and a pipeline system in the North Sea region from a unit of Marubeni Corp.

The company said the “headline” figure for the deal was $32 million, which would be reduced taking into account factors…

Technip was awarded by Statoil a contract for the fabrication, installation and tie-ins of flowlines(1) for the Gullfaks South field development. The field is in the northern part of the North Sea, located approximately 190 kilometers northwest of Bergen, Norway, at water depths between 130 and 220 meters.

The Gullfaks…