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…
Dutch jack-up services company Seafox has ended its pursuit to acquire rival Gulf Marine Services.After it in April floated an idea about the possible takeover of GMS, the GMS board rejected the plan deeming the move opportunistic, valuing the company's equity 'at only US$32 million…
Dubai's Drydocks World shipyard has cut first steel for the HVAC Transformer Station Topside, named Hollandse Kust Zuid (HKZ) Beta.This is the third such unit that Drydocks World will be constructing for Petrofac and end-client TenneT, and the second project for the HKZ offshore wind farm…
The first offshore wind turbine has been installed at the Borssele III/IV wind project in the Dutch North Sea, the turbine builder MHI Vestas Offshore Wind has said.'The first turbine at the 731.5 MW Borssele III/IV offshore wind project has…
Norway's offshore safety authority PSA Norway has completed its investigation into the cylinder burst incident that happened aboard Equinor's Heimdal platform off Norway in November 2019.The incident, in which two workers were seriously injured…
Offshore installation and construction specialist Subsea 7 will cut 3000 jobs by 2021, and reduce its active vessel fleet, it said in a statement on Thursday.Subsea 7 a month ago said that with the deterioration in the outlook for new oil and gas awards…
Italian marine cable installation company Prysmian has won an €80 million contract to provide the submarine inter-array cable systems for the Saint-Brieuc offshore wind farm in France.Under the contract awarded by the wind farm developer Ailes…
The article originally titled 'Yme Start-up Date Uncertain as COVID-19 Delays Maersk Inspirer Works' has been updated to include a statement by the Repsol spokesperson who has confirmed the start-up is now expected in 2021.Spanish oil firm Repsol…
Norwegian offshore vessel owner Solstad Offshore on Thursday posted a higher 1Q revenue but expects its full-year revenue in 2020 to be negatively affected by the COVID-19 pandemic and sharp decline in the oil price.Solstad’s revenue for the first quarter of 2020 was MNOK 1…
Norwegian seismic acquisition company PGS has completed its East Shetland Basin 2020 survey using the Ramform Tethys seismic vessel.The company said Wednesday the first results of the survey would be available in August. 'PGS and the survey…
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