Offshore Engineer Industry News News - page 3

 

US Oil Output Projection Raised for 2025, says EIA

Feb 11, 2025

U.S. oil production is expected to reach new heights in 2025, surpassing earlier projections, according to the U.S. Energy Information Administration’s (EIA) latest Short-Term Energy Outlook. The EIA now forecasts U.S. crude oil production will average 13…

Guyana Set to Terminate CGX and Frontera's License for Corentyne Offshore Block

Feb 11, 2025

Frontera Energy Corporation and CGX Energy have received a notice from the Government of Guyana for the cancelation of license for the Corentyne block offshore the South American country.According to the joint venture partners, Guyana has taken the position that the license…

RenewableUK Outlines End-Of-Life Policy Tips for UK Offshore Wind

Feb 11, 2025

A report published by RenewableUK has outlined key proposals to enable the operational lifespan of offshore wind farms to be extended, as well as recommendations for the development of the best decommissioning options.The UK’s first offshore wind farm began generating clean power in 2000…

Kystdesign Books Its Largest ROV and Subsea Equipment Order to Date

Feb 11, 2025

Engineering firm Kystdesign has secured a contract to supply four work class remotely operated vehicles (ROVs) and accompanying equipment as part of its largest ordered booked to date.This significant agreement with an undisclosed client involves the supply of four Work Class ROVs…

Six New Gas Wells in Line for BP’s Shah Deniz Field in Caspian Sea

Feb 11, 2025

BP plans to add six new wells to its operation in Azerbaijan's Shah Deniz gas field in the Caspian Sea to ensure stable production in the years ahead, a senior manager at the international energy major told Reuters.BP currently operates 21 gas wells in Shah Deniz…

Next Ocean Scoops Investment to Scale Up Vessel Motion Radar Tech

Feb 11, 2025

Next Ocean, a Dutch developer of Vessel Motion Radar systems for offshore wind and oil and gas industries, has secured seed investment from Arches Capital to drive its business expansion.This funding will accelerate Next Ocean’s growth, enabling the company to scale production…

Saipem Lands $620M Revolving Credit Facility

Feb 11, 2025

Italian offshore energy services firm Saipem has entered into a new $620 million revolving credit facility with a pool of fourteen national and international financial institutions.The facility has a tenor of three years, extendable for a further…

Norway to Offer New Acreage Only for Floating Wind

Feb 11, 2025

Norway will not offer acreage suitable for bottom-fixed offshore wind farm development when it next announces new tenders, and will instead focus on floating wind options, it said on Monday.The government had previously said it would offer new…

BP Posts Lowest Quarterly Profit in Four Years

Feb 11, 2025

BP reported quarterly profit of $1.17 billion on Tuesday, weaker than expected and the lowest in four years, while the company promised to reset its strategy, after news broke at the weekend that investor Elliott Management had built up a stake…

Aker Solutions Secures Work at BalWin1 Offshore Wind Grid Link System

Feb 11, 2025

Aker Solutions has signed a contract with Dragados Offshore to deliver the steel substructure for the 2 GW HVDC converter station for the BalWin1 offshore wind grid connection system in Germany, being developed by transmission system operator (TSO) Amprion Offshore…

ONGC and BP Sign Deal to Boost Production at India's Largest Offshore Oil Field

Feb 11, 2025

Oil and Natural Gas Corporation Limited (ONGC) and BP have signed a contract under which BP will serve as the Technical Services Provider (TSP) for the Mumbai High field, India’s largest and most prolific offshore oil field.ONGC will retain ownership and operational control of the field…

ADNOC Secures LNG Supply Deal with India's BPCL

Feb 10, 2025

Abu Dhabi National Oil Company (ADNOC) will supply 2.5 million tons of liquefied natural gas (LNG) to India's Bharat Petroleum Corp under a new five-year deal, sources with knowledge of the matter said on Monday.Indian's state refiner will receive…

India Set to Launch Oil and Gas Licensing Later This Week

Feb 10, 2025

India will launch rounds for oil and gas blocks licensing this week, Oil Minister Hardeep S Puri said on Monday.Puri said that he hopes energy supply issues will be discussed during the meeting between Indian Prime Minister Narendra Modi and U…

BP’s Shares Soar on Elliott Stake Increase

Feb 10, 2025

Shares in BP rose by 7% to their highest since August in early trade on Monday, after investor Elliott Management built a stake in the energy major it is expected to use to press for change in strategy and to the board.By 0901 GMT, the shares were up about 7% to 462…

Source Galileo, Portland Port to Progress Offshore Wind in English Channel

Feb 10, 2025

Renewable energy company Source Galileo has signed a non-exclusive memorandum of understanding (MoU) with Portland Port, a commercial port on the South Coast of England, to jointly advance offshore wind development off Dorset coast in English Channel…

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