Thai oil company PTTEP reported a 40 percent rise in the full-year net profit, boosted by increased sales volumes from acquired assets and an increased stake in the Bongkot offshore field.Its 2019 net profit was 1,569 million, increasing by 40% from 2018…
Aquaterra Energy and Oceaneering have signed an agreement to jointly offer decommissioning and late-life solution packages to the North Sea oil and gas industry.The two companies will offer tooling and services in platform well abandonment, subsea well abandonment…
UK-focused oil company Hurricane Energy has said that its Lancaster oil field production has exceeded expectations. The North Sea field started producing oil via the Aoka Mizu FPSO in June 2019. In an operational update on Wednesday, Hurricane said that the field had produced 15…
U.S. oil and gas producer Hess Corp said it would spend 11% more in 2020 compared with last year, betting heavily on its assets in offshore Guyana and the Bakken shale play.The company said its 2020 exploration and production capital and exploratory budget will be $3 billion…
Dutch offshore installation company and Estonian wind farm developer Saare Wind Energy have teamed up to develop the Saaremaa offshore wind farm in Estonia's part of the Baltic sea.Saare Wind Energy started the development of the project in…
Japanese oil and gas firm Inpex has awarded seven contracts to oilfield services giant Halliburton. The contracts are related to services at Inpex's Ichthys development offshore Australia.Halliburton said Tuesday that the seven contracts are…
Egypt has signed two deals with Exxon Mobil Corp for oil and gas exploration in the Mediterranean, the petroleum ministry said on Tuesday. The deals involve a minimum investment of $332 million, the ministry said in a statement. Exxon Mobil announced the acquisition of more than 1…
Investment in Colombia's oil industry is set to grow by 23% in 2020, the private oil producers association said on Monday, although production will be effectively flat, increasing just 0.5% compared with the previous year. Investment in the…
Karoon Energy has started drilling at its 256 million barrel prospect Marina-1 offshore Peru using the Stena Forth drillship.Karoon said Monday that the drilling operation at the Block Z‐38 in Peru's Tumbes Basin would take 30 days. Tullow, Karoon's partner in the project…
ExxonMobil has struck another oil discovery offshore Guyana and has raised its estimate for recoverable resource base in Guyana to more than 8 billion barrels of oil equivalent. This is a 2 billion barrel increase compared to the previous estimate…
Belgium-based offshore helicopter provider NHV Group has partnered up with Tropical Arctic Logistics Ltd (TAL), a Nigerian subsidiary of Baywood Integrated Group, specialized in logistics and flight services.The partnership will jointly pursue…
Wind energy companies EDP Renewables and Engie have signed a deal to form 50/50 joint-venture (JV) in fixed and floating offshore wind.EDPR and ENGIE will combine their offshore wind assets and project pipeline in this new entity, starting with a total of 1…
Danish offshore wind farm company Ørsted is set to host an open house in the first week of February to update Atlantic City residents on the progress of Ocean Wind, New Jersey's first offshore wind project.Ørsted was in June 2019 selected as…
Norwegian Prime Minister Erna Solberg will appoint Conservative lawmaker Tina Bru as oil and energy minister, business daily Dagens Naeringsliv and public broadcaster NRK reported on Thursday, citing unnamed sources. The office of the prime minister declined to comment…
Danish wind energy developer Orsted is gearing up to launch its first big-ticket project financing in Taiwan, one of the world’s fastest-growing offshore wind markets.Orsted is expected to mandate banks next month on an NT$61.9bn (US$2bn) 18-year loan for its offshore wind farms in Changhua county…