UK oil and gas producer EnQuest is planning workforce reductions in the UK as some of its North Sea fields are expected to cease production, while others will remain shut as part of a recently announced cost-cutting initiative.When it comes to the planned workforce cuts…
Australian offshore safety regulator NOPSEMA has approved Inpex's application to install Umbilicals, Risers and Flowlines (URF) infrastructure as part of the next stage of the development of the Ichthys gas and condensate field offshore W. Australia…
Oil and gas firm Neptune Energy has informed that another partner - Eneco - has joined the PosHYdon pilot, the world’s first offshore green hydrogen project, being developed in the Dutch North Sea.PosHYdon integrates three energy systems in the Dutch North Sea: offshore wind…
Norwegian engineering company Aker Solutions has had its carbon-capture technology approved for use at Norcem's cement plant in Brevik, it said on Wednesday.Carbon capture and storage (CCS) is widely viewed as a crucial technology to achieve emission reductions from the likes of the cement industry…
Oslo-listed marine seismic services company Polarcus has signed a contract for a survey in the Asia Pacific region.Polarcus said Wednesday that it had received a deal for an XArray marine seismic acquisition project, without disclosing the identity of the client nor the financial details…
Orsted beat first-quarter profit expectations on Wednesday and said the coronavirus would not 'materially' hit earnings this year although it might slow U.S. projects.The world's largest offshore wind developer said it did not expect the coronavirus…
Offshore accommodation specialist Floatel has secured a contract extension for its Floatel Endurance accommodation rig in Norway.The extension is with the Norwegian oil firm Equinor for work at the Martin Linge field, where Equinor is working to bring the field in production…
Up to 30,000 jobs could be lost in the UK's offshore oil sector as companies grapple with the effects of the coronavirus pandemic and a 20 year low in oil prices and a 14 year low for gas, Oil & Gas UK has warned.The industry is expected to see a dramatic reduction in revenue…
Corallian Energy, with its partners Upland Resources and Baron Oil, has signed a work-sharing agreement with a 'large European E&P company' that might lead to a farm-out of a stake in the offshore license P2478 in the Inner Moray Firth, Scotland…
Offshore wind farm developer Ørsted has said that its offshore wind farm Borssele 1 & 2 in the Dutch North Sea has delivered first power to the Dutch grid. The first wind turbine is now supplying electricity.Borssele 1 & 2 is located 22 kilometers…
Austrian energy group OMV posted a net loss for the first quarter due to significant inventory costs and lowered its production target and crude price forecasts in response to tumbling oil demand in the wake of the coronavirus pandemic.OMV said…
From Kazakhstan and Azerbaijan to Nigeria and Angola, oil majors are haggling with national governments over how to share out deep production cuts that add to their pain from low oil prices and depressed fuel sales because of the coronavirus pandemic…
Norway-based Ocean Sun, a developer of floating solar technology, will be granted a new patent for the technology in the U.S.The company on Monday said: 'United States Patent and Trademark Office (USPTO) has informed Ocean Sun that a new patent will be granted in May 2020…
Malaysian FPSO supplier Yinson has signed a deal with Japan's Sumitomo for the latter's participation in the Marlim FPSO project.Yinson said Thursday that the two companies concluded an agreement for their participation in the charter, operations…
Oilfield services company Archer has completed the refinancing of the company, and said new financing agreement provided 'robust financial foundation.'The Oslo-listed company has come out with available liquidity of more than $90 million and without major debt maturities until late 2023…