Verus Petroleum reports it boosted production from 1,500 to 18,000 barrels per day – a 12-fold increase in its production – in less than a year, through drilling and key acquisitions in the U.K. Continental Shelf.The private equity backed independent…
Asia-Pacific's offshore wind capacity will rise 20-fold to 43 GW in 2027, said new research from global natural resources consultancy Wood Mackenzie. Future offshore wind prices will be competitive with traditional thermal prices, it said.Leading the charge is China…
Norway’s Petroleum Safety Authority (PSA) says that Aker BP is approved to use the Transocean Arctic to drill two production wells on the Alvheim field in the North Sea. The two wells are designated 24/6-A-6 and 24/6-A-7 and are to be drilled in Boa…
EMAS' Lewek Constellation. Photo from EMAS Chiyoda Subsea. EMAS Chiyoda's bankruptcy announcement in late February is the latest in a long line of vessel contractors to fall victim to the downturn since January 2015…
Norway's Electromagnetic Geoservices has signed a new charter agreement for the vessel BOA Thalassa with BOA SBL at new and improved commercial terms. The new terms are valid through 1 October 2019 with an option to extend the new agreement through 1 April 2021…
Recently formed Norwegian operator Aker BP has set out an ambition to discover a net 250 MMboe in reserves in 2016–2020. At a capital markets day, the firm said it is planning four operated exploration wells and three partner-operated exploration wells in 2017…
Electromagnetic Geoservices (EMGS) has entered into a firm contract with an oil company in Malaysia, confirming the provisional agreement announced oN 1 November 2016. The contract extension is worth approximately US$8 million and relates to a 3D EM data acquisition offshore Sabah…
Verus Petroleum entered into a sale and purchase agreement with Maersk Oil North Sea UK for the acquisition of Maersk Oil’s 9.8% interest in the Boa oil field, increasing Verus’s interest in the Boa field to 11.35%. The deal also adds approximately 1800 boe/d to Verus’s daily production…
A hydrocarbon leak Thursday morning (28 July) aboard the Alvheim FPSO prompted a production halt at the field, according to operator Det norske. The leak occurred in the FPSO's pump room, triggering an alarm, and stopping production.…
GC Rieber Shipping has agreed a time charter agreement with Senvion for the construction support vessel (CSV) Polar Queen for use on offshore wind farms. The contract is for a fixed period of seven months with options to extend by up to three months…
Electromagnetic Geoservices (EMGS) has ended a charter contract for the EM Leader, as its vessel utilization increased in Q2 2016, compared to last year. The EM Leader, from EMGS. The…
Technip’s US arm has awarded Boa a contract for light construction, heavy lift and possible umbilical lay operations and installations in the Gulf of Mexico for up to five months, including mobilization and options. The scope of work…
Quest Offshore assesses the drilling, subsea, and marine construction dynamics affecting of one of the world’s pre-eminent deepwater basins amid the downturn. The Gulf of Mexico has long been a region of critical importance to the global deepwater industry…
Farstad Shipping has been awarded two charter contracts from Petrobras for operations offshore Brazil. There will be a four-year contract for the PSV Far Strider expected to begin in April 2016. Petrobras has also awarded the anchor…
Det Norske's Alvheim floating production, storage and offloading vessel has returned to full capacity after an electric fault was fixed. The fault, which occurred late November, was in the high voltage drive motor for one of the gas export compressors on Alvheim…
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