Norway's Aker BP and Polish PGNiG have entered into an agreement to swap some of their respective offshore license interests in Norway. The deal will see Aker exit the Gina Krog field in the North Sea, but get hold of the recent Shrek discovery located near its Skarv FPSO in the Norwegian Sea…
Oilfield services provider TechnipFMC said on Monday that it expects to take asset impairment charges of $2.4 billion in the fourth quarter as producers cut spending due to lower prices for oil and gas. TechnipFMC also said it expects 2019 revenue to be near $13…
Norway's Aker BP beat fourth-quarter profit forecasts on Tuesday and said it expects its oil and gas output to jump 36% in 2020, the first full year of production from the giant Johan Sverdrup oilfield.Chief Executive Karl Johnny Hersvik said…
A slew of reports so far this year suggest a confluence of the right factors for a strong, sustained surge in contracting activity — especially in drilling — seems to be developing, at least in Europe.Several indicators were in January pointing to key some snowballing of new activity…
Azerbaijan plans to increase natural gas production this year, but slightly lower oil production due to the level of existing reserves, the vice president of state energy company SOCAR said in an interview. Yashar Latifov told Reuters the country planned to produce 38…
Thai offshore service provider Mermaid Maritime is eyeing an expansion into the UK North Sea sector.The company said Sunday it had set up an indirect subsidiary Mermaid Subsea Services (UK) Limited on February 7.The MSS UK is owned by Mermaid's subsidiary Mermaid Subsea Services (Thailand)…
Italian oil firm Eni has signed an agreement with tanker operator Knutsen NYK Offshore Tankers (KNOT) to charter two newbuild shuttle tankers.Shuttle tankers are used to offload oil from offshore platformsSouth Korea's Daewoo Shipbuilding & Marine Engineering will build the two 124…
Oil prices slipped on Friday as Russia said it would need more time before committing to output cuts along with OPEC and other producers amid falling demand for crude as China battles the coronavirus epidemic. Brent crude futures fell 49 cents…
Dutch offshore survey company Fugro has started a site survey over oil company i3 Energy's UK North Sea licenses, ahead of the planned drilling campaign later this year.North Sea-focused oil company i3 said Friday that Fugro had started the…
Norwegian offshore vessel builder Havyard will outsource the construction of the Atlantic Harrier platform supply vessel to its compatriot yard Kleven, as delays with other projects have put a strain on Havyard’s Leirvik facility.The platform supplier was first ordered by Fafnir Offshore in 2014…
Aker Solutions will likely see a 14% drop in revenue in 2020, reversing the gains made last year, the company said while reporting a decline in fourth-quarter earnings on Friday.Earnings before interest, tax, depreciation and amortization (EBITDA)…
Austrian energy group OMV on Thursday indicated it could be interested in increasing the stake in a Romanian offshore gas project that it currently holds with U.S. firm Exxon Mobil.The exploration of the Black Sea Neptun block is a joint venture between OMV's Romanian subsidiary Petrom and the U…
UK (and Norwegian) taxpayers are largely footing Equinor’s wind-energy success by helping the offshore oil, gas and renewables player operate a healthy profit and hand out dividends, Norwegian news reports have been trumpeting of late.It was Stavanger Aftenblad…
Italian oilfield services firm Saipem reports it has been awarded several engineering, procurement, construction and installation (EPCI) contracts in various countries worth over $500 million combined.The first EPCI contract has been awarded…
UK North Sea-focused Hurricane Energy saw its share price drop on Thursday morning after the company's scrapped plans to tie-back the Lincoln Crestal offshore well to the Aoka Mizu FPSO this summer.The company had drilled the Lincoln Crestal…
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