Offshore News


Subsea 7 Rises on Improved Outlook, Cash Dividend

Mar 03, 2022

Engineering firm, a major supplier to the oil industry, has decided to pay a regular dividend and buy back stock as it swung to a full-year profit in 2021 and its outlook improved, the company said on Thursday.Subsea 7 said it 'firmly' believed…

North Star Reels In More Than $133.7M in ERRV Contracts

Mar 03, 2022

UK-based offshore vessel owner North Star has said it has recently secured new Emergency Response and Rescue Vessel (ERRV) contracts totaling more than £100 million (around $133.7 million).Under the contracts, North Star said it would support…

Wintershall Dea Writes Off $1.1B Nord Stream 2 financing

Mar 02, 2022

German oil and gas firm Wintershall Dea, one of the five co-funders of Nord Stream 2, on Wednesday said it is writing off its 1 billion euros ($1.11 billion) financing in the gas pipeline that was suspended last week.The management board of…

BW Offshore Gets One-year Contract Extension for FPSO BW Joko Tole

Mar 02, 2022

Oslo-listed FPSO leasing firm BW Offshore said Wednesday it had received a one-year contract extension for the lease andoperation of the FPSO BW Joko Tole. BW Joko Tole is a gas-producing FPSO operating on the TSB field offshore Indonesia for Kangean Energy Indonesia…

Dropsafe Expands Helideck Perimeter Safety Net Range

Mar 02, 2022

After last year's launch of the Helideck Perimeter Safety Net range designed to protect offshore workers and equipment from falling, offshore safety equipment maker Dropsafe has expanded its offering. 'Dropsafe now offers two different versions of the Net…

Seismic Firm PXGEO Charters Eidesvik Offshore's 'Subsea Viking'

Mar 02, 2022

Norwegian offshore vessel owner Eidesvik Offshore has won a contract with the seismic survey company PXGEO under the master time charter agreement for the Subsea Viking vessel. Ediesvik said that the contract would start 'ultimo April 2022,' in direct continuation of the existing stand-by contract…

Brent Crude Tops $112. Tanker Owners "Are Having a Ball"

Mar 02, 2022

Oil benchmarks are hitting multiple price and spread milestones across several key markets as the fallout from severe sanctions on key exporter Russia sows confusion and panic among global crude oil traders, shipping firms and importers.The…

Shearwater Sells Seismic Vessel Quartet for Recycling

Mar 02, 2022

Offshore seismic services company Shearwater GeoServices said Tuesday it was divesting the four seismic survey vessels Polar Marquis, Oceanic Challenger, SW Emerald, and SW Eagle for recycling as part of its fleet renewal strategy.The first two vessels…

OpEd: Time To Shine for US Offshore Wind

Mar 01, 2022

It is clear only a few weeks into 2022 that this year can be a watershed moment for American offshore wind. The Department of the Interior has positioned 2022 to be a record year in terms of offshore wind lease offerings and project greenlights…

First Steel Cut for IWS' Second Skywalker Class SOV

Mar 01, 2022

Just weeks after Norway-based Integrated Wind Solutions ASA announced first steel was cut for its lead Skywalker class construction service operations vessel, the company has revealed work is underway to build the second vessel in the series A…

TotalEnergies Cuts Funding for New Projects in Russia

Mar 01, 2022

TotalEnergies condemned what it called Moscow's military aggression in Ukraine but stopped short of following rivals such as Shell and BP, which have said they will exit positions in resource-rich Russia.The French oil major, which holds a 19…

Offshore Energy: Are Decommissioning Costs set to Spiral?

Mar 01, 2022

As offshore market activity recovers and continues to increase through the next decade, as we expect it to, oilfield service (OFS) capacity is expected to tighten.As offshore market activity recovers and continues to increase through the next decade…

Steady Lifting for Offshore Wind

Feb 28, 2022

Offshore wind in the United States is moving forward at pace, thanks in large part to a number of positive developments for the newly emerging industry over the last year or so. For one, the Biden administration at the start of 2021 revealed…

DOF Subsea Charters Jones Act-compliant Offshore Vessel

Feb 28, 2022

Oslo-listed Subsea services company DOF Subsea has entered into an agreement with Otto Candies for the charter of the Jones Act compliant vessel Chloe Candies for a firm period of two years. The deal follows on from the charter of the Ross Candies…

Enthusiasm for Clean Energy Undeniable, Sec. Haaland Says after Record U.S. Offshore Wind Lease Sale

Feb 28, 2022

The Biden administration's sale of offshore wind development rights off the coasts of New York and New Jersey drew a record $4.37 billion in high bids from developers that included major European energy companies.The auction, which began on Wednesday and stretched into Friday afternoon…

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