UK-based oil and gas operator Premier Oil has said it has suspended the Sea Lion-1 oil project offshore the Falkland Islands.The company said the $1.8 billion offshore oil project would be suspended to minimize ongoing spend in light of the current market conditions…
Cargotec's MacGregor has secured orders to equip Edda Wind's new offshore wind service vessels, ordered from Spanish shipyards.Two of the equipment packages were awarded by the shipbuilder Astilleros Gondán in Asturias for Edda Wind's Commissioning Service Operation Vessels (CSOV)…
Work has partially resumed on the Moray East Offshore Windfarm project in Scotland following the demobilization of the project’s onshore sites announced in March due to the Covid-19 pandemic.Following the updated guidance from the Scottish Government…
The Port of Tyne will serve as a new Operations and Maintenance (O&M) Base for the world's largest offshore wind farm, the Dogger Bank in the UK.This was announced Wednesday by Equinor and SSE Renewables, the two companies behind the development of the offshore wind farm…
Vessel designer Chartwell Marine has partnered up with naval architects BAR Technologies, to support in the delivery of what it says will be the next generation of offshore wind crew transfer vessels (CTVs).'The partnership will drive forward…
Premier Oil is asking BP to cut the sale price of two North Sea oilfields in a proposed $625 million deal due to weak oil prices, Chief Executive Tony Durrant said on Wednesday.The company is also talking to shareholders, creditors and brokers…
Lundin Energy has obtained a drilling permit for an offshore exploration well in the Barents Sea, off the Norwegian coast.The Norwegian Petroleum Directorate said Tuesday that it had granted Lundin Energy Norway permission to drill the well formally named 7219/11-1…
BP said on Tuesday that oil output at its projects in Azerbaijan declined to 524,000 barrels per day (bpd) in the first quarter of 2020 from 571,000 bpd a year earlier.Associated gas output at the Azeri-Chirag-Guneshli (ACG) oilfields was 7…
Brazilian oil firm Petrobras has said it has made oil discoveries in the pre-salt areas of the Santos and Campos Basins offshore Brazil.Petrobras said Monday it had discovered oil of excellent quality in the southeast area of the Búzios field in the Santos Basin pre-salt…
The Norwegian government has cut its oil price assumption for 2020 to 331 Norwegian crowns ($32.17) per barrel from 476 crowns last October, a revised budget showed on Tuesday.Norway is Western Europe's largest oil and gas producer, with petroleum…
None of the big oil companies currently meet U.N. targets to limit global warming despite the most ambitious targets set by Royal Dutch Shell and Eni , investors managing $19 trillion said on Tuesday.The Transition Pathway Initiative (TPI),…
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)…