AGR Tracs is partner for subsurface; Petrofac company SPD is partner for wells; Wood Group is partner for facilities; Subsea7 is partner for subsea and Proserv is partner for hardware.

Schlumberger, Cameron, OneSubsea, merger, Paal Gibsgaard, Jack Moore, oil, gas, services, oilfield

Top executives believe the merger creates growth opportunities that could lead to a common operating system for both the surface and subsurface, while expanding Cameron’s presence worldwide.

Schlumberger, Cameron International, 15 billion, merger, oilfield services, subsea

The transaction will expand Schlumberger’s revenue base by more than 20%, Paal Kibsgaard, the company’s CEO and chairman, said in a press call. Schlumberger expects cost synergies of $900 million over two years

Development of North Pars, Golshan and Ferdowsi gas fields will be offered to investors at the upcoming London conference, according to state news agency Shana, Reuters said.

Maersk Oil has asked for permission to shut its Janice installation, which produces around 7,000 barrels per day from three U.K. North Sea oil fields.

Cobalt, offshore, Angola, Sonangol, GoM, Brackett

Cobalt International made huge discoveries in a seven-year period offshore Angola but cedes interest after a federal investigation, low oil prices and uncertainty for all oil producers.

Schlumberger Ltd. (NYSE: SLB) and Cameron (NYSE: CAM) have reached a definitive merger agreement in which the companies will combine in a stock and cash transaction, the companies said in a joint statement.

The deal is valued at $14.8 billion. The agreement was unanimously approved by the boards of directors of both companies.

“This agreement with Cameron opens new and broader opportunities for Schlumberger. At our investor conference in June 2014, we highlighted how the E&P industry must transform to deliver increased performance at a time of range-bound commodity prices,” Schlumberger CEO Paal Kibsgaard said. "With oil prices now at lower levels, oilfield services companies that deliver innovative technology and greater integration while improving efficiency, which our customers increasingly demand, will outperform the market.

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, the release said.

Company statement said National Oil Co. of Liberia struggles to meet operational and personnel obligations, Reuters reported. Tullow Oil, Chevron, Anadarko and African Petroleum had been operating in Liberian waters.

According to Iran's oil minister, Bijan Zanganeh, holding an emergency OPEC meeting might help stabilize the price of oil, Reuters reported from a statement from oil ministry news agency Shana.

Pacific Exploration and Production Corp., formerly Pacific Rubiales Energy Corp., received a two-year service contract to develop oil Block 192 from state-owned Perupetro, Reuters said.

A fire onboard the Skandi Stolmen, a supply vessel operated by Norskan Offshore, was extinguished. The vessel was operating in the Campos Field offshore Brazil.

The minimum work program for each block includes the acquisition, processing and interpretation of 300 sq km of 3-D seismic data and the drilling of one exploration well.

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