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Category: Aerospace Engineering

Arrested Chevron workers could face treason charge in Venezuela

Two Chevron Corp. employees detained in Venezuela last week could be charged with treason for refusing to sign a parts contract for a joint venture with state-owned oil company PDVSA, according to two sources familiar with draft charges against the U.S. firm’s executives. The arrests, by national intelligence agents, marked the first at a Western oil firm in Venezuela and represent a dramatic escalation of growing tensions between PDVSA and foreign companies over control of supply contracts, the sources told…

Shell authorizes Vito deepwater project

Royal Dutch Shell said Tuesday it’s authorizing the multibillion-dollar Vito project in the deepwater Gulf of Mexico – the first major Gulf project announced this year. Although the offshore energy sector continues to languish after the recent oil bust, Big Oil players like Shell are now beginning to move forward with big new projects at dramatically reduced prices. While Shell isn’t revealing the project cost, Shell said it has cut the Vito cost estimate by 70 percent from the initial…

Sales picking up for oilfield service groups

Schlumberger, Halliburton, and BHGE have reported a combined 15% growth in revenues for 1Q 2018 compared to the same period last year, according to analyst Rystad Energy. Their oilfield service sales increased by 21% on average, although their oilfield equipment sales were only 1% higher. Audun Martinsen, vice president of Oilfield Service Research at Rystad, said: “With the great surge of activity in short cycle businesses – like US shale and the slower-to-respond equipment market, typically in offshore – this…

Saipem wins $190m contracts

Saipem has secured new contracts worth approximately $190m in Offshore Drilling and Offshore Engineering and Construction (E&C). In Offshore Drilling, the contract involves the sixth-generation semi-submersible rig Scarabeo 8, which is suitable for harsh and adverse environments. To be carried out offshore Norway, the drilling activities for the project will continue for approximately ten months, excluding options. Awarded by Norske Shell, the first contract refers to the development of an optional well in relation to the contract previously assigned and…

Shell to sell Argentina unit for $950M

Royal Dutch Shell said Tuesday that it has agreed to sell its downstream business in Argentina to Raizen, Shell’s joint-venture company with Cosan Ltd. for $950 million. The oil-and-gas company said that the sale includes its refinery in Buenos Aires, about 645 retail stations, its supply and distribution activities across the country and other businesses.     Once the transaction is complete, the operations acquired by Raizen will continue their relationships with Shell through commercial agreements that are worth about…

Unlocking the big prize in UK ‘small pools’

Following a successful ‘Call for Ideas’, the Oil & Gas Technology Centre is backing four subsea ‘plug and play’ projects to help unlock the 3.4 billion barrels of oil and gas in marginal fields, or ‘small pools’ on the UK Continental Shelf (UKCS). Plug and play is a concept from the computing and space industries, where equipment is designed to be connected, operated and reused more simply and efficiently. Adopting this concept in oil and gas could significantly reduce the…

IWCF introduces e-certificates for increased speed and security

The International Well Control Forum (IWCF) will issue all certificates online, creating significant savings for training providers and greater overall assurance in the oil and gas industry. IWCF – the independent, not-for-profit organisation, which sets international training standards for well control – introduced eCerts to offer significant benefits to users including improved quality and delivery of certificates, while combating instances of fraud. Combined with the fully integrated digital assessment solution, the IWCF eCerts, bring the entire process online. Industry feedback…

McDermott and CB&I agree to name

McDermott International and CB&I have confirmed that, following the closing of the combination of the two companies, the combined company intends to retain the name McDermott. “The name McDermott provides a strong foundation for the combined company and a platform on which we can build our future together,” said David Dickson, McDermott president and CEO, who will continue to lead the combined company. “We are known today as a company that delivers excellence in project execution in a cost-efficient delivery…

Ocean Rig Drillship Santorini Postponed

Ocean Rig UDW Inc, an international contractor of offshore deepwater drilling services, announced that its subsidiary that is party to the shipbuilding contract for the construction of its 7th generation newbuilding drillship the Ocean Rig Santorini reached an agreement with Samsung Heavy Industries  to postpone the delivery of such newbuilding drillship to September 2019. Under the agreement reached with SHI the expected delivery date will be September 30, 2019 but may be brought forward at the option of the Company.…

Inspection and industrial solutions specialist Intero Integrity Services launches with significant investment and growth plans

Intero Integrity Services (“Intero” or the “company”) today announced the launch of its new brand as a leading inspection and industrial service provider to the oil, gas refining and petrochemical industries around the world. Formerly operating as A.Hak Industrial Services, the company’s rebranding recognizes its history and excellent track record in providing its customers with technology-driven inspection and industrial services to enhance the integrity and performance of their critical midstream and downstream assets from design to end-of-life. Intero is pleased…