Halliburton and CeraPhi enters exclusive services agreement
CeraPhi Energy has signed an agreement to provide drilling and intervention services to Halliburton in exchange for in-kind engineering and project management support.
agreement
Seatronics teams up with Force Technology on new partnership
Seatronics has formed a new partnership agreement with Force Technology.
OPEC agrees to cut production in drive to end global glut
OPEC clinched a deal to curtail oil supply, confounding skeptics as the need to clear a record global crude glut -- and prove the group’s credibility -- brought about its first cuts in eight years, Bloomberg News reports.
Israel eyes oil opportunities following Turkey agreement
Israeli Prime Minister Benjamin Netanyahu has said his nation’s agreement with Turkey to normalise ties will have immense implications for the Israeli economy.
JDR and Bibby strike framework agreement deal
JDR has signed a framework agreement with Bibby Offshore for cable maintenance activities.
Akastor reaches new bank agreement
Akastor has reached an agreement with its bank syndicate on terms and conditions to amend and extend its current bank facilities until July 2019.
Deal between trio of LNG firms scrapped after negotiations reach stalemate
A trio of companies have ended their planned merger after the parties failed to agree on terms. The deal would have created one of the largest floating LNG infrastructure companies between Flexlife LNG, Geveran and Exmar. The companies had agreed on main terms for the transaction in July this year but it was still awaiting due diligence as well as agreement on some finer details.
EMGS wins Malaysia contract worth $4.2million
Norwegian offshore survey vessel operator Electromagnetic Geoservices (EMGS) has been awarded a contract from an oil company in Malaysia worth $4.2million. The company said the deal is with a repeat customer and is for a two-year period with an additional option for a second phase survey in 2016.
Iran’s parliament to review text of nuclear deal
Iran’s parliament is set to review the landmark nuclear deal reached with world powers last week. Foreign Minister Mohammad Javad Zarif, who headed the Iranian negotiating team during the talks in Vienna, sent the text of the agreement to the house, state media reported. Under Iran’s constitution, parliament has a right to reject any deal - even one negotiated by the foreign ministry. However, it is not clear whether politicians will vote on the deal or whether they will simply discuss it and possibly express concerns about it.
Arawak ends Gulfsands agreement
Gulfsands Petroleum said Arawak Energy has terminated its Strategic Cooperation Agreement with the company. The move comes after discussions between the two regarding potential business opportunities in the Middle East and North Africa and a $20million convertible loan facility. A spokesman for Gulfsands Petroleum said the company was advised by Arawak that following statements made by certain shareholders of the company and non-executive directors, the company said it would be terminating the agreement.
SeaBird Exploration signs deal worth $4million for vessel
SeaBird Exploration has received an LOA (Letter of Agreement) for one of its vessels in the South East Asia region worth up to $4million. The deal will see the vessel chartered for around 35 days starting in early April next year.
Wentworth Resources secures loan agreement
Wentworth Resources Limited has secured $26million in loan agreements from the Tanzanian Bank for the development of a well and loan repayments. The company said it had also signed a long-term gas sales and purchase agreement to supply discovered natural gas at a price of $3 per mmbtu (million metric British thermal units) for its Mnazi Bay concession. In its third quarter results the company said its working capital was down to $24million compared with $38.4million for the same time last year.