Offshore Energy News


Petrobras to Mothball Offshore Platform to Cut Costs

Aug 07, 2020

Brazilian oil and gas company Petrobras has said it will mothball its Merluza platform (PMLZ-1) in shallow waters in the Santos Basin.'The platform’s production had already been interrupted since March 2020, with the abrupt drop of demand for natural gas…

Petrobras: Binding Phase Starts for Tartaruga Field Stake

Aug 07, 2020

Brazilian oil company Petrobras has kicked off the binding phase for the sale of its entire stake in the Tartaruga field, in the shallow waters of the Sergipe-Alagoas Basin, offshore Brazil.Petrobras had late in June 2020 announced the intention…

Fugro ROV Supports North Sea Link Cable Installation

Aug 07, 2020

Fugro has completed a contract for Nexans to provide remotely operated vehicle (ROV) survey and monitoring support services to lay the North Sea Link cable through a mountain and along a lakebed in Norway.National Grid NSN Link Ltd and Statnett…

Canada: Deep Panuke Offshore Platform Removed from Field

Aug 07, 2020

The Deep Panuke production platform has been 'de-installed' from the namesake offshore gas field in Nova Scotia, Canada, and will be recycled.The jack-up production platform was delivered to the field back in 2011 by SBM Offshore as part of…

Solstad Offshore's Vessels Score Extensions with Total and Equinor

Aug 07, 2020

Norwegian offshore supply vessel owner Solstad offshore has secured several contract extensions with oil companies Total and Equinor in Brazil.France's Total has extended the contracts for the platform supply vessel Normand Swift and the AHTS vessel Far Sagaris until December 2020…

PGS' Shares Surge After Rival TGS' $600M Offer

Aug 07, 2020

Seismic surveyor TGS's unsolicited cash offer of $600 million for part of rival PGS sent its shares up as much as 67% in early trading on Friday.TGS said its offer, announced late on Thursday, for PGS's so-called multi-client library would significantly…

First Power for Blauwwind's Borssele III/IV Offshore Wind Farm

Aug 07, 2020

The Blauwwind consortium has informed that its Borssele III/IV wind farm in the Dutch North Sea has achieved first power.The key milestone in the construction of the offshore wind project was achieved on Friday morning. The first turbine is…

Afreximbank Commits $400M to Mozambique LNG Project

Aug 07, 2020

Cairo-based African Export-Import Bank has committed $400 million in loans and guarantees to Mozambique's $20 billion liquefied natural gas (LNG) project, the multilateral lender said on Thursday.Afreximbank's move follows a similar commitment…

SBM Offshore Maintains 2020 Revenue Guidance, Will Cut 300 Jobs to Reduce Costs

Aug 06, 2020

Dutch FPSO leasing company SBM Offshore has raised its EBIDTA guidance and maintained the revenue guidance for 2020, after 'successfully navigating' a challenging period caused by the pandemic. Still, it is preparing for shorter oil price cycles…

Repsol, Vestigo Tap Alam Maritim for Subsea Services

Aug 06, 2020

Malaysian offshore services provider Alam Maritim has this week secured work with the Spanish oil firm Repsol, and Malaysia's marginal fields development company Vestigo.First, Alam Maritim on Tuesday said it had won a five-year deal with Repsol in Malaysia for the provision of subsea inspection…

Chevron Can Lift Leviathan Gas Field to Global Stage, Delek Says

Aug 06, 2020

Chevron's entry into Israel's Leviathan natural gas field will help deliver the technical and marketing nous to turn the project into a global supplier, said the CEO of Delek Drilling, the energy giant's new regional partner.Chevron became the…

Offshore Energy Industry Can Help UK Hit Net-Zero Emissions Target, O&G Regulator Says

Aug 06, 2020

“The UK Continental Shelf has the potential to make a deep and meaningful impact on the UK’s overall net-zero target and offshore energy integration can be the game-changer,' Andy Samuel, CEO of the UK's Oil and Gas Authority said Thursday.Samuel's…

Liebherr Bags First Offshore Crane Order in Azerbaijan

Aug 06, 2020

Crane specialist Liebherr will deliver what it describes as offshore cranes of the latest generation for Caspian Sea platforms, offshore Azerbaijan.Liebherr-MCCtec Rostock has received an order from Umid Babek Operating Company to deliver four…

Vantage Posts 2Q Loss. Cuts Workforce, Salaries

Aug 06, 2020

Offshore drilling contractor Vantage Drilling reported a net loss attributable to controlling interest of approximately $31.9 million for the second quarter of 2020.For comparison, Vantage Drilling's 2Q income last year was $590 million, however…

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