ABB will equip Japan-built self-elevating wind turbine installation vessel with its power and control technologies.The company said Tuesday that the 28,000-GT jack-up unit on order from builder Japan Marine United Corp, and due for delivery to Shimizu Corp…
China National Offshore Oil and Gas Corp (CNOOC) is set to inject its struggling natural gas terminal and power unit into its flagship listed vehicle CNOOC Ltd, three senior sources with knowledge of the matter said. The plan for the internal merger…
Oil and gas companies might be heading for another round of 'brutal' cost cuts in the wake of the oil price crash caused by coronavirus outbreak and Saudi-Russia stand-off on output cuts.Wood Mackenzie’s Tom Ellacott said: “The price collapse…
Global oil demand is set to contract in 2020 for the first time in more than a decade as global economic activity stalls due to the coronavirus, the International Energy Agency said on Monday. The downward revision came as oil prices dropped…
Helicopter operator Babcock has secured a new five-year shared contract with three oil and gas operators for helicopter transport in the northern North Sea.The contract will initially see Babcock operate over 100 offshore helicopter flights each month from Sumburgh in Shetland…
Japanese utility JERA Co Inc confirmed today that it is taking a 43.75% stake in the up to 2-GW Formosa 3 offshore wind project in Taiwan, leaving 31.25% and 25% to developers Green Investment Group (GIG) and the German energy company EnBW, respectively…
UK-based drilling contractor Awilco Drilling has been awarded a contract by Petrofac Facilities Management for its 1982-built semi-submersible drilling rig WilPhoenix.According to the offshore drilling contractor, the contract was signed for…
The wind turbines on the North Sea can now deliver one Gigawatt in Netherlands. 60 Gigawatts should be achievable in 2050, the target for Europe being 450 Gigawatts.This is according to Netherlands Wind Energy Association (NWEA).Hans Timmers…
Norwegian ship owner Solstad Offshore said it has secured work for its 2006-built anchor handling tug supply vessel (AHTS) Far Stream supporting a six-well drilling program for a major Malaysian operator.The 285-day contract is due to commence…
Norwegian offshore suppliers on Monday endured a perfect storm of economic shockwaves after the oil price collapsed 30 percent over the weekend and sent oil stocks plummeting en masse in a way not seen for two decades.By around midday in Oslo…
BW Energy has brought online the second oil well (DTM-4H Gamba) drilled as part of the Tortue Phase 2 development project in the Dussafu Marin Permit offshore Gabon. The well was put online on Saturday, March 7.'The start of production from…
The Norwegian economy remains strong despite the sharp fall in the price of oil, Norway's biggest export, but it is too early to tell what the full impact will be from cheaper crude and the coronavirus, Finance Minister Jan Tore Sanner said on Monday…
Jack-up drilling leasing company Shelf Drilling has won a contract extension for one of its offshore drilling units in Egypt.The drilling contractor said Monday it had won a one-year contract extension for the Trident 16 jack-up rig. The contract…
Losing more than a quarter of their value, oil prices were set on Monday for their biggest daily rout since the first Gulf War, after Saudi Arabia cut its official prices in a market already reeling from the impact of the coronavirus on global demand…
Macquarie's Green Investment Group (GIG) and EnBW Energie Baden-Württemberg AG have reached an agreement with Japanese utility JERA to join in developing Taiwan's Formosa 3 offshore wind farm. JERA now holds a 43.75% stake in the project. The Green Investment Group holds 31…
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