Marathon Oil Corporation announced it has signed a definite purchase and sale agreement to acquire PayRock Energy Holdings LLC for a total of approximately US$888 million (£606 million).
Keppel Corp is in talks to support KrisEnergy by increasing its stake in the company to nearly 70%, following the company’s proposed financial restructuring.
Royal Dutch Shell believes that the demand for oil could reach its peak in the next five years.
M² Subsea, a recently formed subsea services business, has secured significant new investment for the acquisition of a fleet of 32 remotely operated vehicles (ROVs).
GE and Baker Hughes announced a merger to create a world-leading oil field technology provider with “a unique mix of service and equipment capabilities”.
Aker Solutions announced today it has secured two framework agreements for subsea production systems and lifecycle services with BP.
Statoil announced its third quarter results, reporting declining financial results as a result of a weaker market and higher operating costs.