Offshore drilling company Transocean expects its two ultra-deepwater drillships under construction in Singapore to cost it $2,25 billion in total, more than a double on the original order price.Transocean first ordered the drillships - now named…
Tennet's Borssele Beta offshore transformer platform for offshore wind farms Borssele III, IV and V in the Dutch North Sea is ready for use. 'Blauwwind (Borssele III & IV) and Two Towers (Borssele V) can connect the wind turbines to the high voltage grid one month earlier than planned…
Production efficiency on the UK Continental Shelf (UKCS) has improved for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target, the UK Oil and Gas Authority (OGA) said Thursday.Production efficiency is…
A former manager of consultancy Unaoil was sentenced to three years in jail by a London court on Thursday – the second Unaoil executive to be jailed for bribing an Iraqi official to secure a $55 million oil deal after the fall of Saddam Hussein in 2003…
Russian oil and gas company Sakhalin Energy has started seasonal maintenance of its Molikpaq offshore oil and gas platform, at the Russian far east.Sakhalin Energy said Friday that over 300 people, including about 160 maintenance contractor personnel…
Norwegian oil and gas company Equinor will sell a 40.8125% interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to UK-based EnQuest. The initial consideration is GBP 2,2 million (USD 2,8 million)…
Offshore Heavy Transport (OHT), a company specializing in, well, offshore heavy transport, has decided to diversify its offering and dive into the offshore wind turbine generator installation business.OHT said Thursday it had entered into a…
BP suspended its Alfa platform in Azerbaijan on Thursday for planned maintenance that will last for five days, it said in a statement.The oil major uses the Alfa platform to produce natural gas at the Shah Deniz gas field in the Caspian Sea…
ConocoPhillips reported a wider-than-expected loss on Thursday, as the oil and gas producer was hit by a plunge in crude prices due to a short oil price war and coronavirus-induced lockdowns that sapped demand for fuel.The pandemic destroyed…
Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil's collapse in April and May amid the coronavirus pandemic…
The Norwegian offshore oil and gas safety body PSA Norway has granted Equinor an approval to use the Maersk Intrepid jack-up at the Martin Linge offshore oil and gas field.The consent is for the use of the low-emissions rig for production drilling…
Offshore drilling contractor Pacific Drilling has lost a two-well contract for its Pacific Sharav drillship with Murphy Oil, but has managed to secure a ten-well deal with the same client, only at a later date.The drillship recently completed…
Wind turbine maker Siemens Gamesa expects the fallout of the COVID-19 pandemic will cut 1 billion euros ($1.2 billion) from its sales revenue in the full year, the German-Spanish manufacturer said on Thursday.The company said the impact will be harsher than previously expected…
Global oil demand might never return to levels seen before the outbreak of the COVID-19 epidemic, Royal Dutch Shell CEO Ben van Beurden said on Thursday.'Demand will take a long time to recover if it recovers at all,' van Beurden told reporters…
JDR, a subsea cable supplier and services provider has started construction of a new US headquarters in Tomball, Texas. The building will consolidate three of JDR’s existing facilities in the region to expand its IWOCs (Intervention Work Over…