Offshore drilling rig reactivations have begun as utilization and dayrates continue their rapid recovery, Esgian's Teresa Wilkie writes.We expected it to happen just not necessarily this soon. But now it’s official, several cold-stacked rigs…
Equinor plans to invest 25-35 billion Norwegian crowns ($3-$4.2 billion) to develop the so-called NOAKA oil and gas fields with partners in the North Sea, it said on Friday.The NOAKA (North of Alvheim Krafla Askja) project is set to come on…
Power grid operator TenneT has proposed bringing forward by three years the construction of German power links that could distribute six gigawatts (GW) of offshore wind power from the North Sea, it said on Friday.The proposal, just ahead of the COP26 global climate meeting in Glasgow…
Exxon Mobil on Friday pledged to revive a share repurchase program next year as its earnings outlook improved on quarterly results that topped analysts' estimates.The largest U.S. oil producer posted an adjusted profit of $1.58 a share, beating the Refinitiv estimate by two cents…
The Biden administration on Thursday unveiled fresh steps toward building offshore wind farms in waters off the coasts of Massachusetts, the Carolinas, and in the Gulf of Mexico.The announcement is the government's latest in an aggressive push to expand the nascent ocean industry to every U…
Norwegian oil and gas company OKEA, the operator of the giant Draugen platform off Norway, is working on a project that will see the offshore oil production facility powered by floating wind turbines.The news was shared by the recently formed…
Brazil's state-controlled oil company Petrobras said on Wednesday it has entered the binding phase for the sale of its stakes in the Urugua and Tambau fields in the Santos basin.The two fields belong to the BS-500 concession and are located in the north of the Santos Basin…
Ayman Asfari, until recently CEO of oilfield services firm Petrofac, has with his partners, formed Venterra, a company focused on offshore wind industry services. In a statement on Thursday, Venterra said its plan was to create a global services…
Seismic data firm TGS and oilfield services giant Schlumberger have teamed up in a 3D seismic survey project in the Red Sea, Egypt.TGS said Friday the project would cover around 6,800 square kilometers and would be acquired with long offsets…
Swedish independent oil firm Lundin Energy will raise its dividend for 2021 by 25% after its third-quarter operating profit almost tripled from a year ago, the company said on Friday.Lundin's earnings before interest and tax (EBIT) for July-September rose to $1…
Italian energy group Eni on Friday beat expectations with a third-quarter profit that jumped back to pre-COVID levels boosted by higher gas prices.The group swung to an adjusted net profit of 1.43 billion euros ($1.67 billion) from a 153 million euro loss a year earlier and beat a 1…
Austrian oil and gas company OMV has agreed to sell its 25% stake in the Wisting offshore oil field in the Barents Sea off Norway, to the Swedish oil firm Lundin Energy for $320 million. OMV, which discovered the oil field in 2013, said it was focusing increasingly on low-carbon projects…
Regulations governing deep-sea mining will take longer to finalize due to the global pandemic, a group of Latin American countries said, creating uncertainty for companies looking to mine the sea bed for metals, including cobalt and nickel.The…
Despite oil prices recently edging past $80 a barrel, scars from two recent oil industry downturns in five years have forced offshore seismic surveyors to look at ways to diversify.Marine seismic survey companies provide essential data to offshore…
Orcadian Energy, a UK North Sea-focused oil and gas development company previously known as Pharis Energy, has said it has received three expressions of interest for the provision of an FPSO for its Pilot field development.The company engaged…