The offshore oil and gas market continues to grow despite geopolitical developments and concerns over reduced global economic growth, said the Dutch multinational Fugro.'The outlook across Fugro’s market segments is positive as offshore wind…
Norway's daily oil production is expected to be 6.7% higher at the end of this year than at the end of 2019, as a major oilfield ramps up output, forecasts published by the Norwegian Petroleum Directorate (NPD) showed on Wednesday.The country's preliminary oil output in January stood at 1…
Oil companies produced 3.17 million barrels per day (bpd) on average in Brazil in January, a volume 20.4% larger than seen in the same month a year earlier and an output record for the country, oil regulator ANP said on Wednesday. Natural gas production increased 22% over January 2019 to 138…
A Dubai court has ruled that Floatech, a subsidiary of Malaysia's TH Heavy Engineering, must pay $6,25 million to Dubai's Drydocks World.Drydocks World in April 2019 presented Floatech with a writ of summons demanding Floatech to pay the $6…
A unit of Japan's Inpex Corp signed on Wednesday a memorandum of understanding to supply gas to Indonesian state companies PT Perusahaan Listrik Negara (PLN) and PT Pupuk Indonesia.It would be the first sales deal for gas produced from Indonesia's…
Tower Resources Cameroon SA, a wholly-owned subsidiary of Africa-focused Tower Resources Plc, has hinted at good progress on the ongoing discussions with potential farm-in parties into the Thali PSC offshore Cameroon.The progress in the negotiations…
The market for floating production, storage and offloading units (FPSO) is heating up. Séverine Baudic, SBM Offshore’s Managing Director for Floating Production Solutions, weighs in on the strategic initiatives and technological innovations…
How cloud-based computing is transforming subsea surveyDigitalization has revolutionized the world, and hydrographic survey techniques are no exception. While advances in mechanical design have enabled the survey of increasingly remote locations…
The list of parties at London's International Petroleum Week, one of the world's biggest oil industry gatherings, continues to shrink as hosts such as ExxonMobil and Azerbaijan's SOCAR cancel events due to the coronavirus, trading sources said…
UK-based offshore equipment specialist Sparrows Group has signed a deal for the delivery of three cranes for Qatargas' giant North Field offshore expansion project.Sparrows said Wednesday the contract was secured through McDermott International…
Offshore supply vessel operator Eidesvik Offshore has signed a deal to provide two of its vessels to the seismic company Seabed Geosolutions.The Norwegian vessel owner said Wednesday it would, under the contracts, provide the seismic source…
Neptune Energy has started gas production from the new L5a-D4 well. According to Neptune, the well sits in the deepest producing gas field of the Dutch North Sea.L5a-D4 is a high pressure, high temperature well located in the L5a-D field, around 100 kilometers north of Den Helder…
British oil major BP on Tuesday evacuated workers from its ETAP platform in the UK North Sea, following an issue with power generation.The oil company has removed 63 non-essential workers from the ETAP platform. It suspended production on Tuesday while working to resolve the issue…
New repair works scheduled by Royal Dutch Shell in its oilfields in Malaysia are likely to halve exports of Kimanis crude cargoes in April and squeeze supplies in Asia, two sources said on Wednesday.Kimanis is Malaysia's largest export grade…
Guyana produced 35,607 barrels per day (bpd) of oil in December, following the inauguration of production in the country by a consortium led by U.S. oil major Exxon Mobil Corp, the finance ministry said in a report.Exxon has discovered more than 8 billion barrels off the coast of Guyana…