Solo Oil reported that it has signed a binding MoU to acquire a 15% shareholding in Swiss firm Pan Minerals & Oil. Under the MoU Solo will pay a cash consideration of £200,000 plus 60 million new ordinary Solo shares of 0.01p, each representing a total aggregate consideration of £500,000. Solo said that the purpose […]

The contract for use of the drillship Deepsea Metro I  has been extended by Ophir Energy for drilling offshore East Africa. The extension is for an additional 18 months for use in a continuous drilling program in Tanzania and Kenya. Ophir also entered into a letter of agreement for a rig share assignment with BG […]

Proserv was awarded a multi-million dollar contract in Angola by BP. The company will design and manufacture a subsea sampling system for BP’s PSVM field development. The system, which is being designed, manufactured and tested by Proserv’s dedicated teams in Aberdeen and Aberdeenshire, can go to a maximum water depth of 2,500 meters as well […]