The decision by 52% of the voters in the EU referendum last week to vote to leave the EU has had far-reaching impact across the globe. The oil and gas sector, bruised from nearly two years of low oil prices, is bracing itself for the fall out…
A floating storage unit built to serve the Mariner heavy oil field in the UK North Sea has set sail from its yard in Korea. The Mariner B vessel was built at the Samsung yard in South Korea. Before reaching the North Sea the FSU will sail some 15…
SeaBird Exploration signed an agreement to supply one 2D vessel for an upcoming survey in North West Europe during this coming summer season. The project is due to commence early Q3 2016 and will run for approximately 2 months.
Aberdeen-based oil and gas technology firm LUX Assure has secured a £2.4 million second round investment, which will allow the company to accelerate strategic growth, internationalization plans, and further key technology developments. The funding was provided by Chevron Technology Ventures…
DONG Energy has decided to build the German offshore wind farm Borkum Riffgrund 2, which is expected to be fully commissioned in 1H 2019. With this decision, DONG Energy will reach 6.7GW of installed offshore wind capacity, exceeding the 2020 target of 6…
The British public has spoken - as have the oil, money and stock markets. With a narrow margin, the leave campaign in the UK's referendum to stay in or leave the EU won by 52% to 48%, ending the UK's 43-long membership in the EU. Shares on the FTSE 250 index dropped 11…
If cost reduction in the industry goes far enough, it could start to unlock new projects, with net positive effect for the industry, the industry’s leading economist said last night (23 June) in Aberdeen. But, both Professor Alex Kemp…
An investigation of a well control incident at Visund A that halted production at the field and evacuated workers in March has been completed by Norway’s Petroleum Safety Authority (PSA), revealing several regulation breaches at the Statoil-operated North Sea platform…
Maersk Group has appointed Søren Skou as its new chief executive officer, effective 1 July 2016. Image of Skou, from Maersk. Skou will replace Nils S. Andersen, who will leave the Maersk Group…
UK-based small cap player Nordic has Energy has announced it is looking to wind up the company. The firm has instructed accountants Turpin Barker Armstrong to lead the insolvency proceedings. The Company listed on the ISDX Growth…
Wood Group Mustang has been chosen by the Leviathan partners to provide the front-end engineering and design (FEED) work for the Leviathan project’s production platform in a US$120 million deal. Image from Wood Group Mustang Twitter…
Hess Denmark awarded DNV GL a contract to provide asset integrity inspection management of its South Arne field in the Danish North Sea. The agreement, which is estimated to be US$1.5 million (10 million DKK) per year, includes risked…
Subsea 7 will cut 1200 staff from its workforce, and five vessels from its active fleet by early 2017 amid the ongoing downturn in the oil and gas industry. Subsea 7 said that the job and vessel cuts together with other cost savings initiatives started at the beginning of the year…
Aberdeen, UK-based services firm Proserv has won two significant contract wins in the Gulf of Mexico. The deals with Talos Energy and Hess Corp. will see Proserv carry out work at the operators’ respective Phoenix and Conger field expansion developments…
Atlantis has unveiled a technical milestone for its flagship MeyGen project in northern Scotland, which is now connected to the 33kV Ness of Quoys distribution network, following the successful installation of one of the longest underground…