BW Offshore has signed a loan documentation for a new $80 million senior secured credit facility in respect of the FPSO Petroleo Nautipa.

Yokogawa Electric Corporation announces that its affiliate, Yokogawa Kontrol (Malaysia), has received an order from a consortium comprising JGC Corporation (Japan) and Samsung Heavy Industries (South Korea) that will supply control systems and safety instrumented systems for PETRONAS’s second floating liquefied natural gas (FLNG) facility, PFLNG2.

Karoon Gas Australia has announced that a semi-submersible drilling rig has been contracted to drill the first well for Apache and Karoon in the northern Carnarvon Basin exploration permit WA 482-P, off Australia.

The oil & gas industry is responding to the low oil price environment with exploration budget cuts in 2015 which will average 30%, leading to suggestions that exploration activity could be significantly curtailed.

Heerema Marine Contractors has informed through its social media page that the Clair Ridge QUID module has been lifted onto Dockwise’s Black Marlin vessel.

Teekay’s first Floating Accommodation Unit (FAU), Arendal Spirit, has been lifted onto a heavy loader and is en route to Brazil.

Australian oil and gas company Santos has, together with its partners, made a “significant” oil discovery offshore Malaysia.

Russian oil company Rosneft has decided not to go forward with a rig contract previously agreed upon with Northern Offshore.

Britain needs a new regulator for onshore underground energy and shale gas companies must engage with local communities more effectively before a UK shale gas industry can be developed, a task force examining the sector said on Wednesday.

Brent crude oil steadied above $55 a barrel on Wednesday, not far above the week's lows, as more evidence emerged of global oversupply that has filled fuel storage tanks around the world.