Seadrill announced a writedown of $1.2 billion on the value of its oil drilling rigs on Tuesday and warned it may have to convert part of its $7.4 billion in debt into equity to survive.'Until such time that an agreement is reached to restructure our borrowing commitments…
Belgium’s high-voltage transmission system operator Elia has informed said that the connection of the Seastar offshore wind farm marked the completion of Elia’s offshore power hub Modular Offshore Grid (MOG), Located 40 km off the Belgian coast…
Oil and gas company Neptune Energy has been given a regulatory consent to use the Deepsea Yantai drilling rig for production drilling at its Gjøa field, offshore Norway.According to the Petroleum Safety Authority Norway which gave the consent last week the drilling will take 240 days to complete…
Ashtead Technology's Underwater Cutting Solutions (UCS), an offshore contractor specializing in the cutting of submarine and topside pipelines, has named Richard Lind a new Operations Manager.Lind, who previously worked for Claxton Engineering…
Aberdeen-based research and technology organization the Oil & Gas Technology Centre has appointed Martin Gilbert as its new Chair.Gilbert succeeds Archie Kennedy who has been Vice-Chair and Chair of the OGTC since it was established in February 2017…
Eversendai Offshore has been awarded construction contracts by Petrofac for two offshore wind projects in Europe, Bursa Malaysia-listed Eversendai said Monday.The first contract is for the fabrication and construction of an offshore wind substation platform topside…
UK-based oil and gas company Independent Oil and Gas plc (IOG), has awarded a well management contract to Petrofac for its Core Project Phase 1 in the UK Southern North Sea.The Core Project Phase 1 will develop and bring online the Southwark…
Turkey may begin oil exploration in the eastern Mediterranean within three or four months under a deal it signed with Libya that was condemned by others in the region including Greece, Energy Minister Fatih Donmez said on Friday.Libya's internationally…
The Norwegian government proposes spending 3.6 billion Norwegian crowns ($369 million) on investments to make its economy greener as it gradually emerges from coronavirus lockdowns, the government said on Friday.'The crisis we are now in hasn't…
Oil prices were dragged sharply lower on Friday by weak U.S. fuel demand, fears of a second wave of coronavirus cases in South Korea, and a worsening in U.S.- China relations, but were still on track for a hefty monthly gain.July Brent crude fell 72 cents…
Siemens and Equinor have signed a framework agreement for the provision of safety and automation systems (SAS) for multiple oil and gas installations on the Norwegian continental shelf (NCS). The agreement, signed in late 2019, but revealed by Siemens this week…
Norway's government has further raised its projected 2020 spending from the country's sovereign wealth fund to 424.6 billion Norwegian crowns ($43.67 billion) from 419.6 billion seen on May 12, it said on Friday.The so-called structural non-oil deficit corresponds to 4…
Norwegian oil company Aker BP has secured consent from the Petroleum Safety Authority Norway to use the Maersk Invincible jack-up rig on its Valhall field in the North Sea, offshore Norway.The consent is for the use of the Maersk Invincible…
Offshore installation contractor Deme Offshore has joined Neptune Energy's PosHYdon pilot, the world’s first offshore green hydrogen project, being developed in the Dutch North Sea.Part of the Belgian Deme Group, the company joins as a partner…
The third - and final - floating wind turbine has been towed offshore as part of the Windfloat Atlantic project, located 20 km from Viana do Castelo on the Portuguese coast. The project, dubbed the first floating offshore wind farm in continental Europe…