OTC 2016: Craig International launches new spare equipment trading platform


Global oilfield procurement firm Craig International is today launching a new online platform to help companies buy and sell spare equipment at knock-down prices. Craig International, part of Aberdeen-headquartered energy service and shipping business Craig Group, said oil and gas companies have billions of pounds worth of stock gathering dust and racking up storage costs in warehouses. At the same time, companies are needlessly buying new equipment when it would be cheaper and more efficient to purchase used gear from their counterparts.

Oil & Gas

Petrofac nets $780million Kuwait contract


Petrofac has been awarded a $780million contract from KOC (Kuwait Oil Company) for its manifold group trunkline in the country. The international oil and gas services provider said the win will play an integral part in KOC’s plans to increase and maintain its crude production over the next five years. There are three new gathering centres – forming part of the broader engineering, procurement and construction contract - already being built.