South Korean shipbuilding giant Samsung Heavy Industries must pay $411 million to offshore drilling contractor Stena Drilling, a London arbitration tribunal has ruled.The spat between the two companies began after Stena Drilling in 2017 terminated…
Belgium-based offshore installation contractor DEME Offshore and aerospace company Sabca have said they've successfully completed a series of autonomous drone tests at the Rentel offshore wind farm in the North Sea, 'preparing for autonomous surveillance…
The global offshore wind operations and maintenance (O&M) market is expected to grow 16% annually to reach US$12 billion (€10 billion) by 2029, with opportunities for both existing and new players, energy intelligence group Wood Mackenzie said in a report on Tuesday…
CGG, a France-based provider of seismic data for the oil and gas exploration industry, on Tuesday announced the second phase of its multi-client 3D survey in the Northern North Sea. The company has awarded the survey contract to Shearwater GeoServices…
HitecVision-backed NEO Energy has agreed to acquire independent oil and gas company Zennor Petroleum from Kerogen Capital for up to $625 million, including deferred and contingent payments.The deal comes some two weeks after NEO acquired ExxonMobil's…
Ancala Midstream has secured a life-of-field contract to transport and process gas from the Lundin Energy-operated Solveig field located in the Norwegian sector of the North Sea.The first gas from the field is expected in Q3 2021 and will be…
Danish maritime services company Erria has today entered into a three-year agreement with the offshore drilling contractor Maersk Drilling under which it will handle marine warranty survey tasks related to relocation of Maersk Drilling's drilling rigs…
Republican Senator Ted Cruz put a hold late on Friday on President Joe Biden's pick to lead the Central Intelligence Agency to pressure the administration to put tough sanctions on Russia's Nord Stream 2 natural gas pipeline project.The Senate Intelligence Committee last week backed William Burns…
Total's chief executive said on Monday it could take two years for the world economy to recover from the coronavirus pandemic and that oil prices were unlikely to remain at the current high of $70 a barrel.'I am not betting on prices staying at $70 a barrel…
Norway's Aker ASA is establishing a new unit dedicated to investing in bitcoin and blockchain technology, the industrial holding company said on Monday.Seetee AS would initially have a capital of 500 million Norwegian crowns ($58.6 million) and planned to keep its liquid assets in bitcoin…
Denmark-based offshore drilling company Maersk Drilling has won a one-well contract with Petrogas E&P Netherlands for the harsh-environment jack-up rig Maersk Resolute.The Maersk Resolute will perform well maintenance and drill a side-track…
The consortium behind the Nord Stream 2 undersea gas pipeline said on Thursday a second Russian pipe-laying vessel is undergoing sea trials ahead of joining the project, as it presses on with construction despite growing political pressure.The vessel…
Aker Solutions has been awarded some 67 million euros (USD 80 million) in damages by an arbitration tribunal in Germany in a case related to Kvaerner's work on RWE's Nordsee Ost offshore wind farm delivered back in 2013.To remind, Kvaerner last…
Royal Dutch Shell is changing the senior leadership of its operations in Britain as part of a global overhaul to cut costs and shift away from oil and gas to renewables and power.Under the changes, which have been announced internally, country…
Norwegian oil company Equinor has with its partners decided to further develop the Asgard field in the Norwegian Sea, with an investment estimated at just under NOK 1.4 billion ($164,27 million).Equinor said the investment would see the implementation…