Offshore Engineer Industry News News - page 8

India's First Deepwater Gas Field Stops Production

Feb 04, 2020

India's D1 D3 offshore gas field, the country's first deepwater gas development to be brought online, has ceased production, Reliance and BP joint venture said Monday.The field, in Block KG D6 (KG-DWN-98/3), off the east coast of India, started producing gas in April 2009…

Trinidad Scraps Offshore Gas Field Deal with Venezuela Citing U.S. Sanctions

Feb 04, 2020

Trinidad and Tobago has canceled an agreement with Venezuela for the joint development of a natural gas field straddling their maritime border because of U.S. sanctions on Venezuela's state energy company PDVSA. The Caribbean island nation is a major exporter of liquefied natural gas (LNG)…

RockRose to Buy Speedwell and Its North Sea Gas Asset

Feb 04, 2020

RockRose Energy has signed a deal to buy Speedwell Energy, a company owning a 100% stake in the Cotton gas field in the UK sector of the Southern North Sea. RockRose said Tuesday that the deal was 'for a limited initial consideration,' with…

Petrobras Puts Papa Terra Offshore Oil Field Up for Sale

Feb 03, 2020

Brazil's Petrobras has launched a teaser for the sale of its entire share in the Papa Terra field, 110 kilometers from the coast offshore Brazil.The Brazilian oil company said that the planned sale of the field was in line with its portfolio optimization and improvement of capital allocation…

Exxon's Guyana Oil Deal in Focus Ahead of Election

Feb 03, 2020

A report by a nonprofit watchdog group critical of Exxon Mobil Corp's oil contract with Guyana has rekindled a debate over whether the deal is too generous to the company, just a month before a crucial presidential election.In a report published Monday…

Delek Expects Leviathan Expansion FID in 2020

Feb 03, 2020

Israel's Delek Drilling expects a final investment decision this year on expanding exports from the Leviathan gas field using either an LNG facility in Egypt or a floating terminal, its CEO said on Monday. The offshore Leviathan project came…

Marubeni Secures Loan for Offshore Wind Farms in Japan

Feb 03, 2020

Marubeni Corp and its partners have signed a project finance agreement with banks to build and operate offshore wind farms in northern Japan, the Japanese trading house said on Monday. Marubeni said the 100 billion yen ($921 million) plan to…

Guyana: Orinduik Block in Resource Estimate Boost

Feb 03, 2020

Tullow Oil's Orinduik Block offshore Guyana could hold 5,1 billion barrels of oil equivalent in Gross Prospective Resources, best estimate, according to Gustavson Associates, an independent third-party auditor.This is more than a billion-barrel…

POSH Goes Private on Wednesday

Feb 03, 2020

Singapore-based offshore support vessel operator PACC Offshore Services Holdings, or POSH, is set to go private on Wednesday.OEDigital reported last week that Quetzal Capital, a Kuok Group company, had launched compulsory acquisition for the remaining shares of the offshore vessel operator…

Ex-SembMarine Brazil Director Charged with Bribery, Money Laundering

Feb 03, 2020

Offshore rig builder Sembcorp Marine has said that its Brazil subsidiary Estaleiro Jurong Aracruz's former director has been charged for corruption and money laundering. A former Sembcorp Marine consultant has also been charged.SembcorpMarine…

Climate Activists Block Shell HQ

Feb 02, 2020

Environmental activists chanting 'keep it in the ground' blocked the entrance to Shell's headquarters in The Hague on Friday, protesting at the energy company's role in climate change, until police dragged them away, detaining 30.Some of the…

Report: Chrysaor Talks to Buy Rival Siccar Point End

Jan 31, 2020

North Sea private equity-backed Chrysaor's talks to buy smaller regional rival Siccar Point have ended after a large gap between their price expectations, three sources close to the process said. The breakdown in negotiations highlights difficulties…

Chevron Posts $6.6B 4Q Loss on Impairments

Jan 31, 2020

U.S. oil major Chevron slumped to a $6.6 billion quarterly loss compared to 4Q 2019 $3.7 billion profit, citing previously announced impairments on several projects.'Included in the [4Q 2019] were previously announced upstream impairments and write-offs totaling $10…

Exxon Fourth Quarter Profit Drops

Jan 31, 2020

Exxon Mobil Corp reported a 5.2% drop in fourth-quarter profit on Friday, as assets sales propped up flat year-over-year oil and gas output and weakness in its refining and chemicals businesses.Oil companies last quarter suffered from weaker prices for their products…

Aker Energy Names New Ghana Country Director

Jan 31, 2020

Norwegian oil company Aker Energy has named Kadijah Amoah as Country Director for its business in Ghana. The company explained the appointment as part of its strategy to strengthen its local presence and management in Ghana. Aker Energy holds…

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