The company challenged existing practices, removed unnecessary materials and equipment and rationalized stocking and logistics, according to Harry Brekelmans, projects and technology director for Shell.

The offshore oil and gas industry, even in times of low prices and abundant supply, is driven by the almost relentless search for new fields to replace those coming toward the end of their natural productive lives. Often this forces exploration in ever more challenging environments and places huge demands on the boundaries of technology.

Indonesia’s state-run upstream company PT Pertamina is looking to re-engage Total and INPEX Corp. in reviving oil and gas production from the aging fields and developing new fields in the hydrocarbons-rich Mahakam Block offshore Makassar Strait.

Subsea tiebacks are playing an integral role in the recent growth trend and keeping costs down.

The deal announced Dec. 18 fits Statoil’s strategy of bolstering its presence in Brazil as it seeks to add new barrels which are becoming more difficult to obtain closer to home on the Norwegian continental shelf.

Readying an E&P broadside at the Gulf of Mexico, Talos Energy LLC and Stone Energy Corp. said Nov. 21 they will merge in an all-stock transaction that the companies say represents an equity value of $1.9 billion.

David Pridden, a long time stalwart of the British subsea industry and first CEO of the government-backed Subsea U.K. organization, died Nov. 4 after a six-month battle with cancer. He was 66.

Decommissioning of offshore units in Brazil has been increasingly gaining importance within the country’s offshore industry over the past few years.

As market conditions improve, subsea players are seeing the light at the end of the tunnel and eyeing additional areas for potential growth.

Hess Corp. recently sprang back-to-back deals to sell overseas assets, ending Oct. 24 with a two-day tally of $2.65 billion in proceeds.

Borr Drilling Ltd. is building up its fleet, having reached a deal to buy nine jackup drilling rigs from Sembcorp Marine subsidiary PPL Shipyard (PPLS) in a $1.3 billion deal.

Chevron Corp. Vice Chairman Mike Wirth will become CEO next February, replacing the retiring John Watson, the oil and natural gas producer said Sept. 28.