Offshore Energy News


Platform Mooring Connectors Supplied for Windfloat Atlantic Project

Sep 13, 2018

A U.K. based subsea mooring and cable protection specialist has been called on to help connect wind turbine generator platforms to mooring lines at a floating wind farm under development offshore northern Portugal.First Subsea said it is supplying platform mooring connectors (PMC) to Windplus SA…

Aker BP CEO Predicts Fast Johan Sverdrup Ramp-up

Sep 13, 2018

Aker BP, a partner in Norway's giant Johan Sverdrup oilfield, expects a fast ramp-up of production when the initial development phase ends in late 2019, its chief executive said on Thursday.'I think it will be done in a few months, because the production per well is so high…

Electrification in a New Era for the O&G Industry

Sep 12, 2018

With the recovery in oil prices, deepwater and ultradeep water oil and gas (O&G) projects are the focus of renewed interest. Project viability will come down to a continued focus on cost, but also productivity through high-performing assets…

Swire Seabed Awarded Wintershall Framework Agreement

Sep 11, 2018

Swire Seabed announced it has secured a framework agreement with Wintershall Norge AS for the provision of marine subsea services (MSS) in the North Sea.The agreement will commence this year and has a duration of three years plus four yearly options…

Aker BP, Maersk Drilling Sign Rig Contract off Norway

Sep 06, 2018

Maersk Drilling and Aker BP have signed a one-year contract to deploy the Maersk Integrator jack-up rig off Norway from June 2019, Aker BP said in a statement on Thursday.The contract, based on an alliance created between the two firms and Halliburton in 2017…

SBM Offshore to Pay Additional Fines to Petrobras

Sep 05, 2018

SBM Offshore has reached a settlement to pay additional leniency fines of 200 million reais ($48.27 million) to Brazil's state oil company Petroleo Brasileiro SA, Brazilian prosecutors said on Wednesday.As a result of a long-running corruption investigation…

Transocean to Buy Ocean Rig in $2.7 Bln Deal

Sep 04, 2018

Offshore oil driller Transocean Ltd said on Tuesday it would buy peer Ocean Rig UDW Inc in a $2.7 billion cash-and-stock deal, its second major acquisition this year as the company bets on a recovery in the offshore sector.The acquisition signals new optimism for offshore drillers…

Denmark Swings to Net Oil Importer as North Sea Production Dips

Aug 30, 2018

A 25-year period for Denmark as a net oil exporter is set to end this year following output declines in the North Sea, the country's energy agency said on Thursday after slashing its long-term oil production forecast.The Danish Energy Agency expects this year's oil production to reach 128…

Equinor Explores Floating Wind Turbines to Power N.Sea Oilfields

Aug 28, 2018

Norway's Equinor said on Tuesday it is considering whether to build a pioneering offshore wind farm with floating turbines to supply electricity to two North Sea oilfields as part of a strategy to curb greenhouse gas emissions.The project at…

Total Pact with Stena Drilling for Laggan Well

Aug 27, 2018

Aberdeen-based Stena Drilling has announced that it has signed a deal with French oil giant Total to drill one well at the west of Shetland, Laggan field.A press release from Stena Drilling said: 'We have signed a contract with Total E&P UK Ltd…

Hoegh Backs Out of Chile LNG Project but Buoyant on Market

Aug 23, 2018

Hoegh LNG said on Thursday it had let agreements lapse in Chile that tied one of its floating liquefied natural gas (LNG) import vessels to a project there because approvals for the initiative were likely to be delayed again.The Norwegian company…

Maersk to Spin off Drilling, Hand Total Shares to Investors

Aug 17, 2018

A.P. Moller-Maersk said on Friday it would spin off its offshore drilling operation and list it in Copenhagen next year, the latest move by the Danish shipping company to focus entirely on transport and logistics.Maersk, which cut its full-year profit outlook this month…

Innogy Sells Stake in $2.6 Bln Offshore Wind Project

Aug 13, 2018

German energy group Innogy will sell a 41 percent stake in its 2 billion pound ($2.6 billion) offshore wind farm Triton Knoll to Japan's Electric Power Development Co and Kansai Electric Power Co, it said on Monday.The move helps Innogy secure funding for the project…

Gulf of Mexico Lease Sale to Test Response to Trump-era Regulations

Aug 10, 2018

A federal auction of exploration leases in the Gulf of Mexico next week will test energy companies' appetite for acreage after the Trump administration left royalty rates for deepwater parcels unchanged, bucking an industry call to lower them…

De-risking the FPSO Renaissance

Aug 09, 2018

Floating production, storage and offloading vessels (FPSOs) are in the ascendancy. The total FPSO market is now expected to grow to over $117 billion by 2024. A combination of factors, such as the recovered oil price and renewed interest in deeper…

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