Offshore project sanctions in Southeast Asia could lift greenfield investments in the oilfield services market by nearly 70 percent in 2020, said Rystad Energy.According to Norwegian energy research firm, the growth will be driven by a handful of new mega-projects across Malaysia…
Construction of Taiwan's Formosa 2, an offshore wind power (OWP) development project, officially broke ground in Miaoli County.Orsted Taiwan said in a statement that it held a ground-breaking ceremony for the onshore substation works for the 900MW Greater Changhua 1&2a offshore wind farm off Taiwan…
The head of Royal Dutch Shell Plc in Brazil said on Friday that it currently made more sense for the company to look for exploration areas.Speaking after Brazil's disappointing oil auctions this week, which Shell chose to sit out, Andre Araujo said the Buzios block…
Norwegian oil producer Equinor has started a search for a new chief executive, the Stavanger Aftenblad newspaper reported on Friday, citing unnamed sources.CEO Eldar Saetre, 63, who led the company through the oil market's downturn in 2014-2016…
West of Shetland production likely to overtake North Sea for Shell and BP’s UK portfolios by 2020, said a report.Over the last four years oil and gas production in the West of Shetlands has risen and with that, a growing relevance for the biggest…
PGNiG Upstream Norway bought 10 percent shares in the PL636 and PL636B licenses in the North Sea from Pandion Energy, thus increasing its ownership in the Duva field to 30 percent.Duva oil and gas field (formerly Cara) is located in the Norwegian sector of the North Sea at a water depth of 360m…
Executives from many of the world's biggest oil companies gathered in Rio de Janeiro on Wednesday to compete in Brazil's long-awaited transfer-of-rights (TOR) oil bidding round, the largest offer of crude and gas reserves in the nation's history…
UK's technology innovation and research center Offshore Renewable Energy (ORE) Catapult has announced ambitious expansion plans in the Humber, including a commitment to open a base of operations in Grimsby and create 50 to 70 jobs in the region in the next 10 years…
Gulf Marine Services (GMS), a provider of self-propelled jackup barges, said it has been awarded a four-year contract for a K-Class small vessel, from an unnamed Middle East national oil company.The world's leading provider of advanced self…
Spanish-based engineering company Siemens Gamesa Renewable Energy (SGRE) closed the fiscal year ended September 30 with double-digit growth (+10.9%) in offshore unit due to new markets, mainly Taiwan, which contributed 1.5 GW in firm orders…
Sparrows Group has doubled the size of its operations in the United Arab Emirates (UAE) after securing contracts worth in excess of $70 million in the past three months. The awards have resulted in over 150 new positions being created in the…
Royal Dutch Shell is buying French renewable power company EOLFI as part of its plans to ramp up the oil major's electricity business.EOLFI has largely focused on solar and wind projects, including offshore wind farms. Offshore wind is one of the fastest growing renewables markets…
U.S. oil and gas company Chesapeake Energy Corp said it expects its capital expenses to drop by about 30% in 2020 after it reported a bigger-than-expected loss on Tuesday because of a sharp drop in production and lower natural gas prices.Chesapeake said it expects capital expenditures of $1…
The Kuok Group, through its investment vehicle Quetzal Capital, announced a voluntary conditional cash offer to buy out Singapore-listed PACC Offshore Services Holdings Ltd (POSH).Quetzal Capital said that the conditional offer to acquire all of POSH for S$0…
Germany's offshore broker Global Renewables Shipbrokers (GRS) has formed a strategic partnership with break bulk and project cargo consultancy COLI Schiffahrt & Transport to target the offshore renewables market in Japan.The aim of the cooperation…
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