Oslo-based pump maker Bjoerge will enter the rig-propulsion business with U.S.-based Flowserve and a new concept to make thrusters more efficient, it was understood Friday. 
Process automation company Honeywell has notched 17 percent higher net income for second-quarter 2007 year-on-year, a $611 million result that coincides with a buy-up in its process solutions unit. 
Private equity and venture capital firm 3i will invest an undisclosed amount in Singapore-based deepwater mooring expert Franklin Offshore, it was learned Friday. 
Pearl Exploration and Production Ltd. has signed a Letter of Intent to acquire a 24% working interest in the Mooney oil field from Ravenwood Energy Corp. ("Ravenwood"), a private oil and gas company. 
Halliburton has been awarded a contract as provider of completion products and services to a group of energy companies for operations throughout Malaysia for a term of five years. The group includes PETRONAS Carigali, Exxon, Shell and Newfield. Valued at (USD) $200 million, the contract has the potential to extend beyond the five-year term. 
The high end 12 streamer capacity 3D vessel Geowave Champion successfully completed her sea trials this weekend. The formal vessel redelivery from the Yard to the Vessel Owner is scheduled for Thursday July 19. The vessel will mobilise for Statoil next week. This is two weeks later than previously guided. 
Basic Energy Services, Inc. reported selected operating data for the month of June 2007. During the month, Basic added nine newbuild rigs and retired one rig, increasing its well servicing rig count to 379 as of June 30, 2007. Rig hours for the month of June 2007 were 68,500 producing a rig utilization rate of 79.1%, an increase from 73.3% in the prior month and a decrease from 92.5% in the same month in 2006. 
Somon Oil, a 90% owned subsidiary of Manas' 100% owned subsidiary DWM Petroleum AG, has been awarded an exploration license by the Tajikistan government. 
Shallow-water rig contractor Hercules Offshore has completed the acquisition of TODCO with the approval of combination by both companies’ shareholders. 
Rig-maker Lamprell has announced Scorpion International Ltd is the orderer of a $168 million rig reported earlier this week by OilGas24.com. |
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Statoil has today, 9 July, signed a deal for the sale of its 30% interest in production licence 147 Trym in the North Sea to Bayerngas Norge. 
Schlumberger announced the acquisition of Geosystem, a Milan-based provider of land and marine electromagnetics (EM) and seismic imaging services. 
The European Bank for Reconstruction and Devleopment will raise by $8 million to $32 million the money it will put into a company developing a marine base by the Caspian Sea in the Bay of Bautimo, Kazakhstan. 
“Challenges” at three Finnish shipyards building ferries have caused offshore vessel producer Aker Yards to lower earnings forecasts for the second quarter of 2007 and the year, just as the company declared it would shed unwanted businesses. 
White Nile Ltd, the AIM listed oil and gas exploration company announces an update on it activities in Ethiopia, where it has a Joint Study Agreement with the Ethiopian Government’s Petroleum Operations Division, over the prospective East African Rift system in the southwest of the country. 
Norwegian technology outfit ODIM declared Wednesday that it will buy Stavanger-, Norway based oilfield products specialist JMC for NOK100 million ($17 million). 
Chesapeake Energy Corporation has acquired or has agreed to acquire approximately 8,500 net undeveloped leasehold acres in the heart of the Barnett Shale play in Tarrant County, Texas, from Four Sevens Resources Co., Ltd., Sinclair Oil & Gas Company and several of their affiliates and partners.
A private equity syndicate of Candover, 3i and JPMorgan Partners has sold offshore services outfit Aibel to an investor group led by Ferd Private Equity Fund II of Norway. 
Statoil has signed contracts with Canadian flyer CHC Helicopter Service for flights between offshore installations and the coastal cities of Bergen and Floro and the maintenance of a standby chopper at the Statfjord B platform. 
Norwegian interests have agreed to form supply ship company Aker DOF Supply on the heals of another joint venture, Aker Oilfield Services, to be owned 50-50 this time by Aker Capital and DOF. |
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