Papua New Guinea-focused Oil Search Ltd said on Wednesday it expects 2021 to be another challenging year and forecast lower annual output due to planned maintenance activity at the PNG liquefied natural gas (LNG) plant.The Australia-listed company said it expects annual production of between 25…
Brazil's state-run oil company Petrobras ended 2020 with proven reserves of oil, condensate, and natural gas of 8.816 billion barrels, it said in a securities filing on Tuesday, down about 8% from the previous year.The company said its replacement rate was 29% of last year's production…
Italian oil company Eni has been awarded a new production license in the UK North Sea, resulting from an application made in the 32nd UK Offshore Licensing Round.The Licence, named P2511, covers an area of approximately 340 square kilometers…
Airswift, a workforce provider for the energy, process, and infrastructure sectors, has formed a joint venture (JV) with energy consultancy, EPI Group, to target renewable energy services projects within the Asia Pacific (APAC) region.Under the agreement…
Norway's Aker Offshore Wind and its and its majority owner Aker Horizons have entered into a cooperation agreement with Statkraft to explore possibilities for collaboration on offshore wind power projects on the Norwegian Continental Shelf (“NCS”)…
Oslo-listed seismic surveyor Polarcus has defaulted on its bank loans and bonds, it said on Tuesday, sending the company's shares plunging more than 30%.Polarcus and other seismic surveyors have been hit by weak demand as oil companies slash…
Subsea services company DeepOcean has completed the wind-down of its UK Cable Lay & Trenching business.DeepOcean had in November 2020 said it had started a restructuring process in relation to three UK subsidiaries in its Cable Laying and Trenching business (the “CL&T Group”)…
UK-focused oil and gas firm Jersey Oil & Gas (JOG), on Tuesday announced a significant increase in 2C contingent resource estimate for the Buchan oil field, within the Greater Buchan Area ('GBA') in the UK North Sea.Dynamic reservoir modeling…
DNV GL said Tuesday it would combine its current Oil & Gas and Power & Renewables businesses into one new business area called Energy Systems.The quality assurance and classification firm which, among others, provides advisory services to the power…
U.S. offshore drilling contractor Diamond Offshore, which filed for Chapter 11 bankruptcy in April 2020, said Monday it had entered into an agreement with certain creditors over its financial restructuring that should see $2.1 billion eliminated…
Vineyard Wind, the developer of the first major U.S. offshore wind farm, said on Monday it has asked the Biden administration to restart its permitting process after former President Donald Trump's government abruptly canceled it last month…
Eco Atlantic, an oil company with offshore oil and gas acreage in Guyana and Namibia, said Tuesday it had formed a new solar energy-focused company Eco Atlantic Renewables, citing, in part, a lack of oil and gas acquisition opportunities.Formed with Nepcoe Capital Partners Ltd…
Premier Oil has completed a farm down of interest in the Tuna production sharing contract (PSC), offshore Indonesia to Russia's Zarubezhneft. The UK-based company that will soon merge with rival Chrysaor, said Tuesday the transaction completion came after receipt of Indonesian government approval…
The world’s first 100,000-ton deepwater semi-submersible production and storage platform, which is built to ABS Class, has been launched in China.China National Offshore Oil Corporation (CNOOC) will now begin installation and commissioning on the China-built platform - named “Deep Sea No…
Oil and gas producer Hess Corp on Monday forecast a small drop in output and set a $1.9 billion budget for 2021, most of which will go to Guyana, touted as one of the most important new oil and gas discoveries in the last decade.The company has been relying on its investment in offshore Guyana…
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