Korea Shipbuilding & Offshore Engineering (KSOE) has mostly filled its order book for the next 2-1/2 years as the pandemic drove demand for container ships, leaving little room to meet the needs of the liquefied natural gas (LNG) sector, a senior company executive said…
Jim Milne, Chairman and Managing Director of Balmoral Group, was awarded the honor of Knight Bachelor in the Queen’s Birthday 2022 Honours List for services to business and charity, and is now officially Sir James S Milne CBE, DL, DHC, Hon DBA…
Philippines ports and gaming tycoon Enrique Razon is acquiring a majority stake in a South China Sea gas field from a close ally of outgoing President Rodrigo Duterte, a move seen benefitting his oil exploration franchise on the Reed Bank.Razon's…
Rovco, an offshore subsea and survey solutions provider, has chartered Glomar Offshore's Glomar Worker dynamic positioning (DP) vessel.The 60m long DP2 multi-purpose offshore support vessel will be put to work on the company’s growing number…
Northern European countries are discussing plans to create a common power grid under the North Sea to connect future offshore wind farms as they seek to strengthen energy security, but the ambitious proposal faces financing and regulatory challenges…
Norwegian oil and gas company Equinor has terminated a $428 million drilling contract with drilling firm Valaris for the Valaris DS-11 drillship.The drillship, stacked in Las Palmas, Spain, was supposed to start the contract in July 2024 and stay on the contract until December 2027…
The U.S. offshore wind segment shows no signs of slowing on its journey to deploy 30 gigawatts (GW) of offshore wind by 2030 and 110 GW by 2050. Based on current project activity we anticipate around 60 GW of offshore wind capacity to be installed by 2035…
Norwegian offshore services firm Aker Solutions said Wednesday it had secured a 'significant' three-year contract extension to an existing framework agreement for work at North Sea fields operated by ConocoPhillips Skandinavia.Aker Solutions defines a significant contract as being between NOK 1…
UK-based oil and gas company IOG has resumed production from its Saturn Banks fields in the North Sea at reduced levels following a halt in May due to Perenco Bacton terminal's issues with handling the fields' condensate.IOG said Wednesday that on 31 May…
The UK-based oil and gas company Hurricane Energy with its partner Spirit Energy has decided to relinquish its stake in the Greater Warwick Area license containing the Warwick discovery offshore the Shetland Islands.Greater Warwick Area comprises…
Offshore drilling contractor Aquadrill has secured work for two of its drilling units, the Polaris drillship and the T-15 tender assisted drilling barge.Aquadrill and Vantage Drilling, as a manager of Aquadrill's drilling rigs, have reached…
Norwegian oil company Sval Energi has completed the acquisition of Spirit Energy Norway from Centrica.The USD 1,026 million Spirit Energy Norway acquisition closed May 31, with January 1 2021 as the commercial effective date. The acquisition includes 45 licenses (6 operated)…
Australia-based Woodside Energy's all-stock merger with BHP's oil and gas business was completed Wednesday.Woodside has acquired the entire share capital of BHP Petroleum International Pty Ltd (BHPP) and issued 914,768,948 new Woodside shares to BHP…
Norwegian oil and gas company Aker BP has made a minor oil and gas discovery at the Overly prospect in the North Sea, offshore Norway.The wildcat well, formally known as well 2/8-19, was drilled about 10 kilometers north of the Valhall field…
Italian energy services group Saipem has agreed to sell its onshore drilling business to Britain's KCA Deutag (KCAD) for $550 million, as it strives to bolster its finances after a profit warning and focuses on offshore drilling.Asset sales…
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