The collapse in oil prices to 21-year lows has led potential buyers of oil and gas fields to try and renegotiate deals already agreed at higher prices, with the first examples emerging of sellers having their hand forced.At a time when most oil companies are slashing budgets…
Gulf Marine Services, a UAE-based company owning a fleet of jack-up service vessels, said Thursday it had received letters from shareholders who collectively hold 52.24 percent of the company's issued share capital saying that they didn't plant to accept Seafox's takeover proposal…
Oil and gas company Neptune Energy on Thursday announced the completion of the acquisition of the 3D broadband seismic survey of the extensive Petrel field located in the Bonaparte basin of Australia.'The 2,900 km2 survey significantly expanded…
Oilfield services provider Halliburton Co slashed its quarterly dividend by 75% on Wednesday, the latest move by the company to shore up cash to cope with a dramatic plunge in oil prices that began in March.U.S. oil prices experienced historic drops throughout March and April…
2H Offshore, an Acteon company, has completed the installation of a lightweight, conductor supported, minimum facility wellhead platform offshore Sarawak, Malaysia.The company was responsible for the concept, detailed design, transportation…
U.K.-based manufacturer Soil Machine Dynamics Ltd (SMD) said it handed over a purpose-built pre-lay plow to marine service providers Boskalis, for use at Ørsted’s offshore wind farm Hornsea Two.The multifunctional pre-lay plow will be used to…
French energy major Total has secured $14.4 billion funding for its Mozambique liquefied natural gas project in Mozambique, two sources said on Wednesday.A source with knowledge of the matter said Total has reached a financing agreement with…
Offshore services provider Oceaneering has been awarded an asset integrity contract from a major operator based in Dubai, UAE. Oceaneering said Wednesday that the 'considerable asset integrity contract' included the provision of general and…
Denmark on Wednesday proposed a more than tripling of its offshore wind capacity by building two energy islands linked to new wind farms in the Baltic and North seas to help to meet climate change targets.The energy islands are an important…
Danish offshore wind developer Ørsted has contracted LOC for the provision of Marine Warranty Survey services (MWS) for the Greater Changhua 1 & 2a offshore wind farms in Taiwan.Under the agreement, LOC will provide MWS services for the transportation & installation of the export and array cables…
Prysmian Group, Italian marine cable installation company Prysmian, has finalized a contract for a project awarded by offshore wind farm developer Vattenfall.The contract is for the provision of the subsea inter-array cable systems for the Hollandse…
Aberdeen-based engineering and design firm PD&MS has been awarded a new three-year contract with options for a further three-year extension with oil company Spirit Energy. The deal, worth an undisclosed multimillion-pound sum, will see PD&MS deliver complex modifications for the E&P business…
JXTG Holdings Inc, Japan's biggest oil refiner, said on Wednesday it will spend 1.5 trillion yen ($14 billion) for the next three years to drive its transformation into a supplier of low-carbon energy and materials.The planned spending, mapped…
Malaysian offshore services provider Tanjung Offshore has secured a contract with Carigali Hess Operating Company, a Malaysian subsidiary of the U.S. oil company Hess Corp.The contract is for the provision of onshore fabrication, offshore hook-up and commissioning for infill flowlines…
German oil and gas company Wintershall Dea reported a sharp drop in earnings in the first quarter of 2020, prompting it to cut costs and reduce oil and gas exploration.Production amounted to 626,000 barrel of oil equivalent per day (mboe/d) in Jan-March…