Energy firms Equinor, Aker BP and Vaar Energi have raised their crown-denominate cost estimates for major oil and gas development projects offshore Norway, the country's government said on Monday.Equinor's Johan Castberg project is now expected to cost 86 billion crowns ($8…
Equinor has acquired a 9.8% stake in Ørsted, becoming the second largest shareholder in the company after the Danish State, which holds a controlling stake.Equinor's ownership position has been built over time, through a combination of market purchases and a block trade…
The Norwegian government proposed on Monday to offer up to 35 billion Norwegian crowns ($3.29 billion) in subsidy payments in the country's first commercial floating wind power tender, in line with a compromise reached earlier this year.'Norway…
Eni and the government agency Japan Organization for Metals and Energy Security (JOGMEC) have signed a memorandum of cooperation with the aim of collaborating in the gas and LNG field to increase diversification of supply sources.The memorandum…
TotalEnergies has made an agreement with RWE to acquire 50% equity stake in two large-scale offshore wind projects in Germany, whose combined capacity is 4 GW.RWE was awarded the sites in the latest offshore wind auction in Germany in August…
BP has abandoned a target to cut oil and gas output by 2030 as CEO Murray Auchincloss scales back the firm's energy transition strategy to regain investor confidence, three sources with knowledge of the matter said.When unveiled in 2020, BP's…
The United Kingdom has pledged to provide up to $28.4 billion (£21.7 billion) in funding for carbon capture and storage (CCS) and hydrogen technology and projects over 25 years, being developed in northern England, in an effort to curb CO2 emissions…
The Crown Estate has awarded an agreement for lease to Eni for the HyNet project, the first carbon capture and storage (CCS) project in the UK to repurpose existing pipeline infrastructure, reducing both cost and the environmental impact of construction…
Norwegian offshore vessel owner Sea1 Offshore, formerly Siem Offshore, has secured a multi-well project for three anchor handling tug supply (AHTS) vessels in Australia.The contract begins in second to third quarter of 2025, for a firm period of around 380 days up to 670 days per vessel…
The first commercial application of Volvo Penta’s IPS Professional Platform will power Northern Offshore Services’ next-gen crew transfer vessel. Longtime collaborators Volvo Penta and N-O-S aim to more than satisfy the unique requirements of a possible 25x increase in offshore wind production…
RWE has unveiled the first 108-meter turbine blade, made at the Siemens Gamesa factory in Hull, which will form part of 100 offshore wind turbines, each rated at 14 MW, set for operation at Sofia offshore wind farm.On target for completion towards the end of 2026…
Equinor and its partners Petrolia Noco and PGNiG have started drilling the exploration well at Løvmeis prospect in the Norwegian Sea, using Transocean Encourage semi-submersible drilling rig.The well, 6608/10-R-2 H, is part of the production license 1013…
Mermaid Subsea Services has completed the first stage of a major North Sea decommissioning contract for Shell, ahead of the next phase scheduled to begin in 2025.Delivered ahead of schedule, the initial phase of the multi-year campaign involved…
Energy data and intelligence firm TGS has secured a baseline 4D streamer contract in the Southern Atlantic region with an independent energy company.The contract spans approximately 90 days, according to TGS.TGS will leveraging the capabilities of the Ramform acquisition platform…
Italian oil giant Eni has completed the sale of its upstream assets in the UK, excluding East Irish Sea assets and CCUS activities, to Ithaca Energy, taking approximately 38.7% stake in the London-listed company.The combination is funded through…