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Company News

Mergers and Acquisitions

  • New Zealand Energy and L&M Energy will form a 50/50 joint venture to explore, develop, and operate the Tariki, Waihapa, and Ngaere petroleum mining licenses, the Waihapa production station, and associated pipelines and infrastructure in New Zealand. New Zealand Energy will be the operator.
  • HSB Solomon Associates acquired Ziff Energy Group. The transaction includes global energy exploration and production benchmarking and North American natural gas forecasting services.
  • EV Energy Partners is selling acreage in Ohio’s Utica Shale for USD 284.3 million to an undisclosed buyer. The transaction includes a total of 22,535 acres in Guernsey, Harrison, and Noble counties.
  • Petronas Carigali incorporated a new wholly owned subsidiary, Vestigo Petroleum, to focus on development and production activities from small, marginal, and mature fields in Malaysia and abroad.
  • ConocoPhillips is selling its stake in a Canadian oil sands project to ExxonMobil and Imperial Oil for approximately USD 720 million. The transaction includes 226,000 acres of undeveloped land approximately 93 miles south of Fort McMurray, Alberta.

Company Moves

  • GE Oil & Gas will establish its new global headquarters in London. The base will be operational in January and will support the business and 43,000 employees working in more than 100 countries.
  • Welltec Americas hosted the ribbon cutting ceremony and grand opening of its 30,000-ft2 headquarters facility in Katy, Texas. The base will serve the company’s growing client base in North and South America and as a training base for its field engineers and technicians.


  • Keppel FELS, a wholly owned subsidiary of Keppel Offshore & Marine, was awarded a USD 206 million contract from Parden to build a jackup rig. The rig will be equipped to operate in water depths of 400 ft and drill to depths of 30,000 ft.
  • Enbridge will build a USD 1.3 billion extension to its Woodland crude line in northern Alberta, Canada, to serve Imperial Oil’s Kearl oil sands project. The 214-mile extension will have an initial capacity of 400,000 B/D with the ability to be expanded to 800,000 B/D.
  • Hess signed a production sharing contract with PetroChina to jointly develop a shale oil block in China’s northwest region of Xinjiang. The 800 km2 block is located in the Santanghu basin.
  • China National Offshore Oil Corporation signed a production sharing contract with BP to jointly explore the deepwater Block 54/11 in the Pearl River Mouth basin in the South China Sea. The block covers a total area of 1,771 sq miles with water depths of 370 m to 2300 m.
  • WorleyParsons was awarded a contract by Chevron to provide engineering services for the Buckskin and Moccasin oil and gas production facility to be located in the US Gulf of Mexico (GOM). The contract will include the prefront-end engineering design preliminary design phase for the deepwater subsea architecture, riser interface, and topside facility design for the oil and gas production semisubmersible.
  • SBM Offshore won a USD 1 billion supply and lease contract from Shell Offshore for a floating production, storage, and offloading (FPSO) vessel for the Stones development project in the GOM. The FPSO will store 800,000 bbl of crude oil with a processing capacity of 60,000 B/D of oil and 15 Mcf/D of gas treatment and export capabilities.
  • IHC Merwede has secured orders worth USD 1.3 billion for the design, engineering, and construction of six pipelaying vessels. The work was ordered by Subsea 7 and Seabras Sapura, which is a partnership between SapuraKencana and Seadrill. Each vessel weighing 606 tons will be built at the company’s shipbuilding facilities in the Netherlands. They will be delivered between the first half of 2015 and the second half of 2016.
  • First Subsea was awarded a subsea mooring connector contract from Technip for an Anadarko Petroleum project in the GOM. The contract includes a 23,000-ton truss spar platform moored in 1619 m of water on the Heidelberg field in Green Canyon blocks 859, 860, 903, 904, and 948. The spar will have a capacity of more than 80,000 B/D of oil and 2.3 Mcf/D of gas and is expected to come online in 2015.
  • Daewoo Engineering & Construction won a USD 709 million service contract from the Iraqi government to develop the country’s largest gas field in the western province of Anbar. The company will handle engineering, procurement, and construction for the processing facility and pipeline network at the Akkas gas field, which has reserves of 5.6 Tcf of gas.
  • Coastal Contracts’ wholly owned subsidiary, Thaumas Marine, secured contracts for the sale of one anchor handling tug supply vessel and one subsea support/maintenance vessel for a total of approximately USD 52.2 million. The two vessels are scheduled to be delivered before the end of next year.
  • Chevron China Energy, a subsidiary of Chevron, signed a contract for Seadrill’s ultradeepwater vessel West Tellus for a project off the coast of Liberia. The drillship will be able to work in water depths of 10,000 ft and drill to depths of 37,000 ft. The contract is scheduled to begin in late October and end in April.
  • Vard Holdings secured contracts with joint ventures of DOF Subsea and Technip for the design and construction of four pipe lay support vessels. The contracts have an aggregate order value of approximately USD 1.1 billion.
  • China Oilfield Services signed agreements to build 15 vessels with delivery scheduled between January and August 2015. The vessels include one output enhancement vessel, four 6,000 hp platform supply vessels (PSVs), two 9,000 hp PSVs, two 8,000 hp anchor handling tug supply (AHTS) vessels, four 12,000 hp AHTS, and two 15,000 hp AHTS. The vessels will be constructed by five shipyards in China.