Offshore Europe News - page 410


Noble Corp. Files for Bankruptcy

Aug 03, 2020

Offshore oil and gas driller Noble Corp said on Friday it had filed for chapter 11 bankruptcy protection to restructure debt, following a historic fall in energy prices.The company said it would swap all its bond debt, which accounts for more than $3…

Maersk Drilling CFO to Step Down

Jul 31, 2020

Danish offshore drilling company Maersk Drilling said Friday its Chief Financial Officer Jesper Ridder Olsen would step down from the position by January 2021.The offshore drilling contractor said that Ridder Olsen had 'decided to pursue another…

Tennet: Borssele Beta Platform Ready for Operation

Jul 31, 2020

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…

UK: Oil and Gas Production Efficiency Hits 80% 'Three Years ahead of Target'

Jul 31, 2020

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…

EnQuest to Take Over Operatorship of Bressay Field from Equinor

Jul 31, 2020

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)…

OHT Enters Offshore Wind Turbine Installation Business

Jul 30, 2020

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 Shuts Caspian Sea Platform for Maintenance

Jul 30, 2020

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…

Headache for OPEC as Oil Market Structure Signals Return of Glut

Jul 30, 2020

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…

Equinor Gets OK to use Maersk Intrepid Jack-up Rig at Martin Linge Field

Jul 30, 2020

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…

Murphy Oil to Take Pacific Drilling Rig on a Ten-Well Term in 2021. Scraps 2020 Deal

Jul 30, 2020

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…

Siemens Gamesa Slashes 2020 Revenue Forecast on COVID-19 Impact

Jul 30, 2020

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…

Shell CEO: Oil Demand May Never Recover from COVID-19

Jul 30, 2020

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…

Shell Takes $16.8B Impairment

Jul 30, 2020

Royal Dutch Shell avoided its first quarterly loss in recent history, helped by a booming trading business, but announced nearly $17 billion in impairment charges reflecting a pessimistic outlook for oil and gas prices.Shell had warned last…

Spirit Energy Extends North Sea Field's Life by Three Years

Jul 29, 2020

North Sea oil and gas operator Spirit Energy has given its York offshore gas field a new lease of life with an additional £13million (USD 16.8 million) investment. With the investment, Spirit will extend the life of the Southern North Sea offshore gas field by three years…

Equinor Cleared for Wildcat Drilling in Norwegian Sea

Jul 29, 2020

Norwegian oil and gas company Equinor has obtained regulatory approval for exploration drilling in the production license 263 D, located in the Norwegian Sea.The Norwegian Petroleum Directorate said Wednesday it had granted a drilling permit…

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