LOC has won a contract to provide Marine Warranty Services (MWS) to support transport and installation operations for the development of the Jieyang II windfarm. The Jieyang II windfarm will consists of 64 wind turbines, with an installed capacity of 350MW…
UK-based oilfield services company Petrofac has been awarded a three-year extension to a maintenance contract and a new four-year metering contract with the oil major BP.Petrofac said Tuesday that the metering services contract included on and offshore consulting and support services…
'The swift oil price crash caused by the Covid-19 pandemic will reduce the combined free cash flow of FPSO fields, which have produced above three-quarters of their original resources at just $2.20 per barrel this year. This is a jaw-dropping decline from 2019’s $11…
Danish offshore vessels owner ESVAGT will cut executive and staff pay, and delay investments in response to the low oil prices and the COVID-19 pandemic.Peter Lytzen, the CEO of the company that provides emergency response and rescue vessels (ERRV) and service operation vessels (SOV)…
Serica Energy has hired Awilco Drilling's WilPhoenix semi-submersible drilling rig for the intervention work on the Rhum-3 ('R3') well in the UK North Sea.The 3rd-Generation, Enhanced Pacesetter, harsh-environment, mid-water, semi-submersible…
Engineering and project management firm Penspen has won an engineering services contract by Target Engineering Construction Co LLC for slug catcher replacement support on a project on Zirku Island in UAE.The Penspen contract is for work on the island’s Satah slug catcher replacement project…
Saudi Arabia will voluntarily deepen oil output cuts from June as low oil prices are causing huge pain to the kingdom's budget and global demand remains weak due to lockdowns to contain the coronavirus pandemic.The announcement by the kingdom…
Following Norway's decision in April to cut oil production to support oil prices, and the King's approval of the proposed cuts last week, the country's Energy Ministry on Monday announced the list of fields covered by the planned cuts that are expected to take effect from June…
Macquarie's Green Investment Group (GIG) and Scottish offshore wind developer Renewable Infrastructure Development Group have partnered to compete in the next round of leasing for offshore wind development in Scotland, they said on Monday.ScotWind…
Norwegian oil firm Equinor has been given a drilling permit to drill the well 30/2-5 S in the North Sea, offshore Norway.Under the drilling permit granted by the Norwegian Petroleum Directorate, Equinor will drill the well 30/2-5 S in Production…
Van Oord’s heavy lift vessel Svanen has arrived at the Danish Kriegers Flak Offshore Wind field in the Baltic Sea off Denmark, where it will install foundations for wind turbines.The Dutch offshore contractor entered into an agreement with Vattenfall…
Oil companies Neptune Energy and Wintershall Dea have informed that the 740-tonne topside module for the Nova development project in the Norwegian North Sea was lifted aboard the Neptune-operated Gjøa platform.The Nova topside module was installed by the world’s largest crane vessel…
Danish wind farm turbine builder Vestas became the first wind turbine manufacturer to install more than 10 GW of wind capacity in a single year (2019), according to new analysis from Wood Mackenzie.The Danish OEM’s grid-connected capacity of 11…
Shanghai-based SWS shipyard has delivered two newbuild platform supply vessels to Sinoocean.The vessels the 'Guo Hai Min Xing' and the 'Guo Hai Min Sheng' - both of the ULSTEIN PX121 design - are operating for COSL – China Oilfield Services Limited…
Brazilian oil giant Petrobras said on Friday that its cash burn could reach $1 billion a month in periods of extreme stress and volatility, noting the current level of uncertainty in being able to accurately predict spending.The state-owned firm…