Equinor has agreed the sale of 19.5% interests in production licenses PL 048E, which is the Eirin field, and PL 1201 to PGNiG Upstream Norway.With the agreement, the ownership between Equinor and PGNiG in these licenses will be balanced with the Gina Krog field…
The floating production storage and offloading (FPSO) vessel, a key component of the Greater Tortue Ahmeyim (GTA) Phase 1 LNG development, has arrived at its final location offshore Mauritania and Senegal.Following completion of its construction at the COSCO Qidong Shipyard in China…
A South African appeals court on Monday suspended a previous ruling that halted offshore exploration by Shell along the unspoilt Wild Coast and allowed oil companies another chance at public consultation, court documents showed.The lack of public…
The OPEC+ decision to extend crude oil production cuts is an acknowledgment that demand growth is still uncertain, but also that the group remains hopeful its bullish scenario is correct.The Organization of the Petroleum Exporting Countries (OPEC) and its allies including Russia…
Portfolio investors purchased petroleum contracts for the first time in seven weeks as traders squared up short positions ahead of a meeting of OPEC⁺ ministers to decide production policy in the second half of 2024.Hedge funds and other money…
OPEC+ agreed on Sunday to extend most of its deep oil output cuts well into 2025 as the group seeks to shore up the market amid tepid demand growth, high interest rates and rising rival U.S. production.Brent crude oil prices LCOc1 have been trading near $80 per barrel in recent days…
A crack has been found in a two-inch pipeline onboard Norway's offshore Sleipner Riser platform and it is not yet known how long this will take to repair, Norwegian gas pipeline system operator Gassco said on Monday.The outage on Monday halted…
South Korea's first domestically built geophysical exploration research vessel was commissioned during a ceremony at Pohang Yeongilman Port on May 31.The 92-meter Tamhae 3 is a fully state-funded research vessel owned by the Korea Institute of Geoscience and Mineral Resources (KIGAM)…
Shell, the operator of Pensacola discovery in the North Sea, has granted short period of additional time to partner Deltic Energy to secure funding associated with its share of costs for an appraisal well.In its capacity as Licence Operator of P2252…
Norwegian seismic company PGS has started seismic survey operations in the northern hemisphere, using two Titan-class Ramform vessels and an ultra-high-res 3D spread.PGS’ Ramform Tethys has picked up the reins on the 2024 Norwegian Sea GeoStreamer X survey…
Morocco plans to launch a tender this summer to build a floating liquefied natural gas (LNG) terminal in the northeastern Nador West Med port, the energy ministry's head of oil and gas said on Friday.The ministry expects to reach financial close in 2025 with construction…
Bangladesh's Summit LNG has paused operations at its floating storage and regasification unit (FSRU) in Moheshkhali after it was hit by a stray pontoon during a cyclone on May 27, the company said in a statement to Reuters on Friday.'There was damage to the ballast water tank of the FSRU…
Equinor has informed that the floating production storage and offloading (FPSO) vessel Johan Castberg departed for sea trials from Aker Solutions’s Stord yard ahead of its deployment at Barents Sea field.The FPSO for sea trials in Klosterfjorden…
Norwegian subsea services firm Reach Subsea has entered the agreement with vessel owner Havila Shipping to extend the charter for inspection, maintenance and repair (IMR) vessel Havila Subsea.The contract extension is for a firm period of three years…
Danish subsea cable and services firm NKT has named its second cable laying vessel (CLV) NKT Eleonora, which has been designed to run on methanol.NKT Eleonora, meaning shining light, will boost the company’s offshore cable laying capacity and…