Subsea 7 has confirmed the award of a major contract by Turkish Petroleum for the Sakarya field development offshore Turkey in the Black Sea. Subsea 7 defines a major contract as being one where Subsea 7’s share of revenue is over USD 750 million…
If we want to reach net zero by 2050, there is an increasingly high risk that some of the oil and gas infrastructure investments (i.e. in platforms, pipelines, processors, storage sites etc) made today will result in stranded assets.In other words…
The hull of the Prosperity FPSO has recently arrived from China where it was built to Singapore where Keppel will mate it with topside modules, after which the vessel will set sail for Guyana, to become the South American country's third FPSO in production…
Dutch offshore services firm Fugro has secured accreditation from the UK Civil Aviation Authority (CAA) and Helideck Certification Agency (HCA) as an approved supplier of helideck monitoring systems (HMS) conforming to the new 2021 UK CAA standards…
Suriname state oil company Staatsolie on Wednesday said it had signed a 30-year production sharing contract with U.S. producer Chevron Corp for the South American country's offshore Block 5.Chevron Exploration Suriname Ltd and a consortium by TotalEnergies and Qatar Petroleum (QATPE…
Occidental Petroleum Corp agreed to sell its interests in two Ghana offshore fields for $750 million to Kosmos Energy and Ghana National Petroleum Corp, the oil and gas producer said on Wednesday, as it looks to cut the debt it took on with its purchase of Anadarko Petroleum…
French energy industry major TotalEnergies and floating wind developer Simply Blue Group, a pioneer in floating offshore wind, have launched a joint venture, TotalEnergies SBE US, 'to unlock the vast potential for floating offshore wind projects in the United States…
President Vladimir Putin said on Wednesday Russia was not using gas as a weapon and was ready to help ease Europe's energy crunch as the region's bloc called an emergency summit to tackle skyrocketing prices.Energy demand has surged as economies have rebounded from the pandemic…
Norway will continue to explore for oil and gas in the next four years, with most new drilling permits to come in mature regions of its oceans, the incoming government said on Wednesday.A minority coalition of the leftwing Labour Party and the…
Spanish floating wind technology company X1 Wind has completed the rotor assembly for its 'downwind' floating wind system.'Fitted with a specially adapted V29 Vestas turbine, the unique ‘downwind’ system is able to ‘weathervane’ and orientate passively with the wind to maximize energy yields…
The Kremlin said on Wednesday that Russian gas giant Gazprom was supplying gas to Europe at maximum levels under existing contracts and any increase would need to be negotiated with the company.'Nothing can be delivered beyond the contracts…
Offshore drilling firm Aquadrill - ex-Seadrill Partners - has secured a contract for its Capella drillship in Indonesia.The MPD outfitted 6th generation drillship, managed by Vantage Holdings International, will drill two wells, with an option for two more…
A large-scale offshore wind-powered green hydrogen facility could be built in Orkney, UK, if a proposal by the Offshore Wind Power Limited (OWPL) consortium receives necessary approvals.The consortium formed by Macquarie’s Green Investment Group…
Equinor's Johan Castberg Arctic oilfield will cost some 10% more to develop than expected a year ago, and will start production later than expected, primarily due to the pandemic, the Norwegian government's budget showed on Tuesday.The project…
Norwegian oil company OKEA, the operator of the Vette license offshore Norway said Tuesday it had decided to propose to the license partners not to develop the Vette discovery further, 'due to the project’s insufficient financial robustness…