Swedish oil company Lundin Energy has failed to find hydrocarbons at its Merckx prospect in the North Sea, offshore Norway.The Norwegian Petroleum Directorate said Friday that Lundin, as the operator of production licence 981 where the well is located…
Classification society ABS said it has been selected to class a former drillship that is being converted to a subsea mining vessel.The industry-first project will see Allseas’ 228-meter Vitoria 10000, now renamed Hidden Gem, equipped with a…
Russian oil and gas company Lukoil has agreed to acquire a 15.5% stake in the Shah Deniz offshore gas field in the Azerbaijan sector of the Caspian Sea from Malaysia's Petronas.Lukoil said the value of the transaction was $2.25 billion, with the completion is subject to certain conditions precedent…
Brazilian oil company Petrobras said Thursday it had not yet picked the winner in a bidding race for its Albacora and Albacora Leste fields in the Campos Basin, offshore Brazil.The company issued an update after Reuters on Thursday said the…
U.S. oil major ExxonMobil has made yet another oil discovery in its prolific Stabroek Block, offshore Guyana, and has now increased its estimate of the discovered recoverable resource for the block to approximately 10 billion oil-equivalent barrels…
UK-based offshore equipment provider OEG Offshore has acquired Hughes Subsea Services (Hughes), an integrated subsea service company.This is OEG Offshore's second acquisition in a little over a week, when it bought Fern Communications.Hughes…
Offshore installation firm Jan De Nul Group has awarded the Italian engineering firm Remazel a contract for the delivery of a set of cradles, a skidding system and an upending hinge for its new offshore installation vessel Les Alizés to handle and install large monopiles…
Offshore survey services company UTEC, an Acteon subsidiary, has deployed iXblue new subsea positioning technology on 'a world-class' ultra-deepwater field development project in Africa, with depths below 2,000 meters.According to iXblue, its sparse LBL solution…
Royal Dutch Shell warned on Thursday of a $400 million hit to third-quarter earnings from the damage caused by August's Hurricane Ida.However, in an update ahead of quarterly results this month, the oil major also flagged a boost to cashflows from soaring natural gas and electricity prices…
Update: This article, originally published by Reuters, has been updated to include a statement by Seadrill addressing a reported inaccuracy in its lede.Offshore driller Seadrill Ltd has requested an additional four months to retain control of its bankruptcy proceeding…
Norway-based firm Aker Offshore Wind plans to utilize Scotland’s first offshore wind underwater substation as part of its bids for major offshore wind farms.'The multi-million subsea innovation would be developed, manufactured, and supplied…
A British regulator rejected Royal Dutch Shell's plans to develop the Jackdaw gasfield in the North Sea after considering its environmental statement, industry sources said on Wednesday.'We’re disappointed by the decision and are considering the implications…
Investing in new North Sea gas resources is essential for the UK to avoid shortages, price shocks, and rising import costs, industry body OGUK has warned, adding that, without fresh investment, North Sea gas production will plummet by 75% by 2030…
UK-based renewables giant SSE, a Principal Partner of the United Nations Climate Change Conference COP26, has invited those who want to see an ambitious climate action agreed at COP26 to show their support by putting their name on the world’s…
NOV-BLM has won a contract to deliver the jacking system for the new offshore wind installation vessel ordered by Van Oord.Van Oord, the Dutch marine and offshore services company, last week placed an order for a jack-up vessel that will be…