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Aker Solutions, a global provider of products, systems and services to the oil and gas industry, has signed a contract with Petrobras to provide a subsea production system and related services for the Mero 1 project within the Mero field development, one of the largest oil discoveries in Brazil's pre-salt area.

Malaysia's resource-rich eastern states seem to be getting more assertive in taking control of their oil and gas resources, with local media reporting that Sarawak's state government is planning to establish a state-owned offshore oil and gas exploration company in order to participate in the industry.

Seismic exploration company Polarcus has recorded third quarter net profit of $19.8m, but stayed $84.9m in the red for the first nine months of the year.

Shell is pulling out of oil exploration off the coast of Alaska “for the foreseeable future”, after finding insufficient oil and gas quantities in one of its basins, and the impact of high costs associated with further exploration.

Keppel FELS has embarked on a speculative build of a new design of drillship dubbed the Can Do, a long time slogan of the Singapore shipyard group.

The Middle East region’s OSV market is showing healthy growth, according to ABS evp of energy development Ken Richardson, speaking at Middle East Workboats & Offshore Marine (MEWBOM) conference in Abu Dhabi yesterday.

Houston: Seadrill has signed a contract with LLOG Bluewater Holdings for ultra-deepwater newbuilding drillship West Neptune.

Oslo: Statoil has signed an MoU for joint oil exploration of new acreage in the Azerbaijani areas of the Caspian Sea over the coming 12 months.