U.S. Congressman A. Donald McEachin, a Democratic representative from Virginia, has introduced legislation that would require offshore oil and gas operators to report failures of critical safety systems directly to the Secretary of the Interior…
Hokchi Energy, a subsidiary of Argentina's Pan American Energy, has chartered the recently delivered jack-up rig Cantarell III from Grupo R for operations offshore Mexico.As reported previously the Cantarell III jack-up drilling unit arrived…
Japanese companies MODEC, Mitsui, MOL, and Marubeni will jointly invest in the Petrobras-bound Marlim FPSO.MODEC in October 2019 received a letter of intent from Petrobras for the supply, charter, and operations of the Marlim-1 FPSO.Now Mitsui…
The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…
Lawyers representing former Nigerian oil minister Dan Etete told Reuters on Friday it was 'incredible' that a court had issued a warrant for his arrest in relation to a $1.3 billion oil deal scandal nine years after it was struck. Economic and…
Poland's biggest oil refiner PKN Orlen plans to select a partner in the first quarter for its first wind farm project in the Baltic Sea, Deputy Head Patrycja Klarecka said on Thursday. For coal-reliant Poland, offshore wind, together with other renewables…
Orsted, the world's largest offshore wind farm developer, exceeded its own full-year core profit expectations on Thursday on the back of strong generation from its wind farms but said it expected this year's result to be slightly lower.Its 2019 earnings before interest…
The North Sea operator Serica Energy has halted production from Bruce, Keith and Rhum (BKR) fields, after an inspection unveiled issues aboard the Bruce offshore platform.'During a Bruce platform inspection, the condition of an unused seawater…
Thai oil company PTTEP reported a 40 percent rise in the full-year net profit, boosted by increased sales volumes from acquired assets and an increased stake in the Bongkot offshore field.Its 2019 net profit was 1,569 million, increasing by 40% from 2018…
Royal Dutch Shell is cutting the pace of its vast $25 billion share buyback program after lower oil and natural gas prices halved its profit in the last three months of 2019, sending its shares to their lowest since July 2017. While the Anglo…
Subsea Integration Alliance, a JV between Subsea 7 and OneSubsea, has been awarded an exclusive contract by Equinor for the Front End Engineering Design (FEED) study for the SURF (Subsea, Umbilical, Risers and Flowlines) on its Bacalhau (formerly Carcará) project…
Oilfield services provider TechnipFMC has chartered the Skandi Vitoria pipelay support vessel.The Brazilian built pipelay support vessel is owned by the joint venture between DOF Subsea (50%) and TechnipFMC (50%).The contract for the Skandi Vitoria will start in January and is for two years…
Japan's Modec has won an order from Equinor to supply an FPSO for the Norwegian firm's Bacalhau (formerly Carcará) field offshore Brazil. According to Equinor and Modec, this will be the largest FPSO in Brazil.'This contract is based on a two-step award…
Oslo-listed drilling company Awilco Drilling has signed a Letter of Intent with an unnamed operator for the provision of its WilPhoenix drilling rig.Awilco said Thursday that the contract would be in support of a three well Plug & Abandonment program…
The proposed merger between Prosafe and Floatel, two of the largest offshore accommodation providers, has hit a stumbling block in the UK after an in-depth review by the competition authority said the deal 'raises competition concerns.'The two…