Oilfield Services News

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Drillers Turning to Big Data in the Hunt for Cheaper Oil
Wednesday, March 20, 2019 The industry is creating new business opportunities for IT, artificial intelligence, big data processing and analytics providers.

When Will the Oil Service Market Match 2014 Highs?
Tuesday, March 19, 2019 When will the global oilfield service sector return to previous highs?

Precision Drilling to Sell All Mexico Assets
Monday, March 18, 2019 Precision Drilling is selling five Mexico-based drilling rigs for $48 million.

US Has Fourth Straight Week of Rig Count Declines
Friday, March 15, 2019 The U.S. dropped one oil rig this week.

Petrofac Secures $1B EPC Contract
Thursday, March 14, 2019 Petrofac has been awarded a contract worth around $1 billion by Groupment Isarene for engineering, procurement and construction services relating to the Ain Tsila development project in Algeria.

Chevron Australia Contract Goes to SNC-Lavalin
Tuesday, March 12, 2019 The three-year contract covers engineering, reliability and integrity management services.

BP West Africa Contracts Go to McDermott and BHGE
Monday, March 11, 2019 The contracts cover SURF and SPS equipment.

Petrobras Hires Transocean Drillships
Monday, March 11, 2019 The total estimated firm backlog for both drillships amounts to more than $240 million.

Mining Support Jobs Decline by Thousands in Feb.
Friday, March 08, 2019 U.S. mining employment showed slight dips in February, according to data from the U.S. Bureau of Labor Statistics.

Deepwater Egypt Contract Goes to ADES-Vantage JV
Friday, March 08, 2019 The Tungsten Explorer drillship. PHOTO SOURCE: Vantage Drilling International

US Drops 11 Oil and Gas Rigs
Friday, March 08, 2019 The U.S. scrapped a total of 11 oil and gas rigs this week, according to Baker Hughes, a GE Company.

Permian Still Booming Despite Hurdles
Thursday, March 07, 2019 The Permian's oil pipeline network is expected to grow 60-70 percent in the next five years.

Alberta Drillers Unfazed by Crude Glut
Thursday, March 07, 2019 Some drillers are moving ahead in Canada's oil sands despite depressed prices last year and resulting production cuts.

Canada's STEP Energy Cuts Administrative Staff
Wednesday, March 06, 2019 Canada oilfield services firm cuts 13 percent of its administrative staff as oilfield activity in Canada slows.

China to Form National Oil, Gas Pipeline Company
Tuesday, March 05, 2019 This is the first public acknowledgment of the massive energy industry overhaul planned since 2014.

Operators Set to Boost Subsea Spend
Monday, March 04, 2019 Operators are poised to boost expenditure substantially on subsea equipment and installation, according to Rystad Energy.

$1.2B UAE Oil Storage Contract Goes to SKEC
Wednesday, February 27, 2019 SKEC is building the underground storage complex in hard rock in the Emirate of Fujairah.

Permian Frac Scene Could Get Busier Soon
Friday, February 22, 2019 The oilfield services sector in the Permian Basin could be getting action-packed.

Schlumberger and Rockwell Create Digital Oilfield Solution
Wednesday, February 20, 2019 Schlumberger and Rockwell Automation are teaming up to create a fully integrated digital oilfield automation solutions provider for the oil and gas industry.

Alberta Eyes $1.7 Billion Profit From Crude-by-Rail Project
Tuesday, February 19, 2019 The deal between Canadian Pacific Railway and Canadian National Railway entails leasing 4,400 rail cars over three years.

Energy Consultancy Sees Strong Start to 2019
Tuesday, February 12, 2019 Energy consultancy Add Energy says it is on track to achieve its growth ambitions after 'a strong start to the year'.

UK OFS Sector Sees Turnover and Headcount Fall
Wednesday, February 06, 2019 UK oilfield services sector turnover experienced its 3rd consecutive annual decline in 2017, according to a new report from EY.

Claxton Opens New Office in Norway
Friday, February 01, 2019 Offshore services company Claxton revealed Friday that it has opened a new office in Stavanger, Norway.

BHGE Ends 2018 with a $195MM Profit
Thursday, January 31, 2019 The oilfield services giant closes out 2018 with a $195 million profit on nearly $22.9 billion of revenue.

Petrofac Establishing Global Workforce Forum
Friday, January 25, 2019 Petrofac is establishing a global workforce forum.

DOF Bags Contract with Major North Sea Operator
Thursday, January 24, 2019 DOF has been awarded a 2 year contract by a 'major North Sea operator'.

2018 Ends with a 66 Percent Increase in US Deal Value
Thursday, January 24, 2019 New insights by PwC show that deal values closed out 2018 at $301.3 billion, driven mostly by affiliate transactions.

Saipem Bags Deals Worth Approximately $1.3B
Friday, January 18, 2019 Saipem has secured 2 EPIC contracts (Engineering, Procurement, Installation, Construction) with Saudi Aramco worth approximately $1.3 billion.

Atlas Professionals Buys Brander
Wednesday, January 16, 2019 Energy recruitment specialist Atlas Professionals acquires technical recruitment company Brander.

UK-Based Energy Services Firm Changes Name
Tuesday, January 15, 2019 Fabricom Offshore Services has announced the launch of a new name and corporate identity.

Lesar Pursues New Oil Patch Venture
Monday, January 14, 2019 The retired Halliburton executive plans to start an oilfield services company.

Winners and Losers of Offshore Spending Revival
Friday, January 11, 2019 After 4 years of cutbacks, oil companies are poised to open their wallets again and develop new offshore fields, but the benefits won't be spread equally.

Aberdeen Services Firm to Create 80 Jobs
Monday, January 07, 2019 Aberdeen-based offshore support vessel specialist Sentinel Marine says it will create 80 new jobs by adding 3 multi-role ships to its fleet.

Global Drilling And Well Services Activity Sees An Upswing
Friday, December 21, 2018 More than 72,000 wells are expected to be drilled and completed in 2019, representing a 3% growth compared to 2018.

Strong Outlook for Offshore Service Market
Tuesday, December 18, 2018 The outlook for offshore oilfield service contractors is strong, according to Rystad Energy.

Weatherford Sells Data Logging Business to Pay Debt
Monday, December 17, 2018 This is one of a series of planned divestitures by the oilfield services company that was recently warned of delisting by the NYSE.

Cyber Attack Targets Oil and Gas Services Company
Tuesday, December 11, 2018 Saipem suffers a cyber attack on its servers.

Sapura Energy Consortium Bags $719MM ONGC Contract
Thursday, December 06, 2018 A Sapura Energy consortium has bagged an ONGC services contract valued at approximately $719 million.

Baker Hughes Inks Service Contract with Saudi Aramco
Wednesday, December 05, 2018 Baker Hughes inks a three-year well services contract with Saudi Aramco.

Schlumberger's Year-End Frack Forecast is a Lump of Coal
Tuesday, December 04, 2018 Schlumberger believes the North American fracking market - already expected to be a downer for the holidays - is turning out to be even worse than expected.

ODS Anticipates Creating Up To 500 Jobs by 2021
Thursday, November 22, 2018 UK decommissioning company Offshore Decommissioning Services anticipates that it will create up to 500 new jobs by 2021, according to a company spokesperson.

Johan Castberg FPSO Topside Work Begins
Wednesday, November 21, 2018 Kvaerner is cutting first steel today for the topside of Equinor's Johan Castberg FPSO vessel.

Sapura Energy Wins New Contracts Worth Over $400MM
Wednesday, November 21, 2018 Sapura Energy Berhad strengthens its presence in Mexico and Malaysia with new contract wins.

University Launches Growth Program for Energy Firms
Wednesday, November 14, 2018 Robert Gordon University is launching a program to support businesses within the energy sector to accelerate their growth.

ADNOC Invests $1.4B in Bu Hasa Field
Wednesday, November 14, 2018 ADNOC announces a $1.4 billion investment to upgrade and expand its Bu Hasa field.

Wood Wins Mega Project Services Deal
Tuesday, November 13, 2018 Wood secures multi-million dollar contract extension from ADNOC Offshore.

Oil & Gas UK Awards Winners Revealed
Friday, November 02, 2018 Industry body Oil & Gas UK reveals the winners of the 2018 Oil & Gas UK Awards.

US E&P Executives to See Higher Salaries in 2019
Thursday, November 01, 2018 A new survey reveals that oilfield services and drilling companies expect an increase in executives' base salary.

Norwegian Firm Wins $100MM Johan Sverdrup Work
Wednesday, October 31, 2018 Kvaerner signs a contract worth approximately $107 million with Equinor.

Aker Wins $200MM CNOOC Subsea Order
Tuesday, October 23, 2018 Aker Solutions receives a notification of award for orders valued at more than $205 million from the China National Offshore Oil Corporation.