Technology Europe Exclusives

Offshore Drillers Ensco, Rowan To Combine In $2.4 Billion Merger

The merger of offshore drillers Ensco and Rowan will result in the world’s largest jackup contractor with a combined enterprise value of $12 billion.

As the oil price continues to climb from recent lows, there is a higher demand for funding. However, some smaller players face a challenging funding landscape, according to financial experts speaking at ONS2018.

Paradigm, Emerson, E&P software, digital oil field, Pat Babka, oil and gas workflow, Roxar Software Solutions,  Emerson Automation Solutions

With the acquisition of Paradigm, which was completed in late 2017, Emerson believes it can meet the market’s growing demand for an independent, global provider of E&P software solutions.

Automation, robotics and drone technologies are helping to keep aging North Sea facilities profitable for longer.

subsea oil and gas, subsea technology, dual pipe separator, Seabed Separation

Norwegian subsea technology firms are pushing ahead with technologies to enable a new wave of seafloor field development.

Completion Europe

Schlumberger, Paal Kibsgaard, oil, drilling, technology, hydraulic fracturing, investment

The company plans to produce a new hydraulic fracturing system and a ‘land drilling system of the future.’

Contracts Europe

Oil and gas investment in Norway is expected to grow for a second year in a row in 2019 but will fall back between 2020 and 2023, an industry lobby group said on Jan. 7.

Topaz Energy and Marine has signed a long-term agreement with Reach Subsea on Nov. 8 under which Reach will charter the newbuild subsea vessel, Topaz Tiamat.

Shell Exploration and Production Mauritania B.V. on July 23 signed two production sharing contracts with the government of Mauritania for the exploration and potential future production of hydrocarbons in the offshore blocks C-10 and C-19.

Britain’s biggest labor union is balloting rig workers at three of Total’s (NYSE: TOT) North Sea oil platforms over a potential strike due to the company’s refusal to reduce the number of unpaid working days, the union said on June 20.

Shareholders in Israel’s Delek Drilling will vote next month on whether to approve a $200 million investment that will allow the company to export gas to Egypt via a subsea pipeline.

Digital Europe

BHGE, Binu Mathew, artificial intelligence, oil and gas

Technologies must be domain specific with end-to-end workflows so they can be put to use, according to Binu Mathew, senior vice president and global head of digital products for ‎Baker Hughes, a GE company.

The development of intelligent energy solutions is moving at an ever-increasing rate.

Contract management software aims to improve operations and communication.

Downhole Europe

GCDT fits fully into Prysmian’s expansion strategy in subsea umbilicals, risers and flowlines and complements its product range. The portfolio of protectors will be enhanced, the company added.

Advances in subsea processing systems are moving the technology toward the point where a ‘subsea factory’ on the seabed by 2020 is nearing reality.

Equipment Europe

Oilfield equipment maker Schoeller-Bleckmann (SBO) announced a surge in second-quarter earnings on Aug. 23, putting it on course to return to a full-year net profit.

Pipeline operator says there is no timeline yet for repair of the Forties system, now under force majeure.

Transocean Ltd. plans to retire six of its cold-stacked rigs in an environmentally responsible manner.

Subsea 7 S.A. has signed a letter of intent with Royal IHC in the Netherlands for the construction of a new reel-lay vessel and associated pipe lay equipment.

The deal, which would be mostly paid for in shares and convertible bonds, would strengthen Transocean's position in offshore drilling as Songa is Statoil's largest drilling service provider.

Operations Europe

Libya's biggest oilfield, El Sharara, will remain shut until an armed group occupying the site leaves, the head of National Oil Corp (NOC) said on Jan. 29, more than a month after the field closed because of a protest.

‘One-of-a-kind’ deal diversifies partners’ interests.

Indonesian oil and gas group Medco Energi got an extension to Jan. 31 to make a firm takeover offer for Ophir Energy or walk away.

Neptune Energy and DEA are bidding for the oil and gas assets in Egypt, Italy and elsewhere being sold by Edison, Reuters reported citing industry sources.

Oil and gas company Ophir Energy, which historically focused on Africa, has of late been concentrating on Asia, purchasing some assets from Australian peer Santos last year.

People Europe

Patrick de la Chevardière has been Total CFO for the last 11 years and is reported to be succeeded by Jean-Pierre Sbraire, currently deputy CFO of the French oil and gas major.

Shell Upstream Director Andy Brown is stepping down after 35 years at the Anglo-Dutch company. His replacement, Wael Sawan, currently heads Shell's deepwater operations.

Total has appointed Brendan Warn to succeed Mike Sangster as the company’s senior vice president of investor relations.

Oil services group TechnipFMC said on Jan. 10 Doug Pferdehirt would replace Thierry Pilenko as its executive chairman, following Pilenko’s imminent retirement.

Knut Eriksen has been named as Kreuz Subsea’s first independent non-executive director.

Regulations Europe

Italian oil and gas group Eni is monitoring the situation in Venezuela very carefully but its production in the country for now is unaffected, a spokesman said on Jan. 24.

Britain could safely raise the limit for tremors at gas hydraulic fracturing sites, two seismologists said on Jan. 22.

The Italian government is planning to block the issuing of about 36 permits to look for oil and gas as part of plans to cut the country's carbon footprint.

The government has capped Groningen production at 19.4 billion cubic meters (Bcm) in the year starting October 2018 and said it would reduce output to zero in the coming decade.

Turkey has resumed imports of Iranian crude oil after a one-month hiatus in November when U.S. sanctions on Iran were reimposed, trading and shipping sources said.