Varel International Energy Services receives multimillion dollar investment
Varel will use the investment from Blue Water Energy to drive growth in the medium-term.
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Varel will use the investment from Blue Water Energy to drive growth in the medium-term.
Express Engineering's subsea engineering assembly and test centre is due to come onstream in late 2020.
The contract will last until 2023.
The discovery was made at the Schwegenheim exploration well in the Rhine Valley.
Rystad expect the month of April to take the biggest hit, with demand for oil falling by as much as 11 million bpd y/y.
Unity will maintain wellhead equipment across twelve platforms in the East Irish Sea, Southern North Sea and the Dutch sector of the North Sea.
The results of work undertaken by Egdon Resources show the project has an estimated break-even oil price of US$17.62/bbl.
By sidetracking from a collapsed expandable liner, the re-entry operation eliminated the time and cost associated with re-drilling and re-casing a 3000-ft hole.
BW Offshore has signed a five-year contract for the lease and operation of the BW Pioneer FPSO on the Cascade and Chinook fields on behalf of MP Gulf of Mexico.
The contract is for the development, qualification and field trials of autonomous inspection/intervention subsea drones.
The company has reduced its estimate of 2020 capital expenditures to US$15 million to US$25 million from its prior level of US$50 million to US$100 million.
Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent, say Rystad.