When bidding for six leases in the New York Bight commenced on Wednesday morning, the minimum option price to secure development rights was set at close to $49 million. After the first day, 13 active bids had resulted in cumulative bids of over $1…
Nigerian oil company Seplat has agreed to buy ExxonMobil's shallow water assets in Nigeria via the acquisition of the U.S. oil company's Nigerian subsidiary Mobil Producing Nigeria Unlimited ('MPNU'), in what Seplat said was a transformational acquisition for the company…
In July 2020, just a few months after the COVID-19 pandemic started to spiral out of control, Shell CEO Ben van Beurden declared world oil demand may have passed its peak - all but condemning his company's core business to eventual obscurity…
Russian oil company Lukoil said Friday it had completed the acquisition of the 50% operator interest in the Area 4 project in Mexico through the acquisition of the operator's holding company. The proposed acquisition was first announced in July 2021…
The Biden's administration's sale of offshore wind development rights off the coasts of New York and New Jersey surged past all expectations on Thursday to reach more than $3.3 billion, with bidding still not complete.The auction, which began on Wednesday and is due to resume on Friday morning…
Subsea Expo 2022, a subsea industry event held in Aberdeen this week, has been, according to the organizers, hailed a major success after more than 4,000 visitors attended and exhibitors reported doing “real” business with strong interest in their products and services…
Matthias Warnig, the chief executive of Nord Stream 2 AG who has been targeted by U.S. sanctions, is stepping down from the supervisory board of German soccer club FC Schalke 04, the club said on Twitter.It said Warnig had informed the club that he was resigning with immediate effect…
U.S. oilfield services and equipment giant Halliburton has appointed Earl Cummings and Tobi Young to its board of directors. The appointments went into effect on February 23, 2022, and both will stand for election by shareholders at the annual meeting on May 18…
Oilfield services giant TechnipFMC expects more than 350 subsea tree orders to be made globally in 2022, a level which it says has not been seen in years.The oilfield equipment and services firm saw its full-year 2021 inbound orders in the subsea segment hit the $5 billion figure…
Norway's Equinor has confirmed to Offshore Engineer that it has signed an agreement with FPSO owner Altera Infrastructure that could see the Petrojarl Knarr FPSO redeployed at the long-stalled Rosebank project in the UK North Sea. The FPSO is currently producing oil from Shell's Knarr field…
The New York Bight auction is made up of six leases containing an estimated 5.6 GW of bottom-fixed offshore wind capacity that can serve New York and New Jersey offshore wind requirements, amongst others. Till now, New York and New Jersey have secured a combined capacity of 8…
MAATS Tech has been named subsea company of the year and David Bruton, Director Subsea at Crondall Energy, was recognized for his outstanding contribution to the industry at the Subsea Expo Awards held Wednesday night in Aberdeen, UK. Organized by the Global Underwater Hub (GUH)…
Wintershall Dea, one of the co-founders of Gazprom's Nord Stream 2 gas pipeline, on Thursday said canceling the project on political grounds would enable its operator to lodge compensation claims.The group's remarks come as Moscow launched an…
Italian oil company Eni has started oil production via the Miamte FPSO at the Miztón field, offshore Mexico The field sits in Area 1 in the Gulf of Mexico, about 10 kilometers offshore the Tabasco coast. Upon its arrival in Mexico in January 2022…
Offshore installation giant Subsea 7 and its technology partner FLASC have won £471,760 (~$631,854) grant from the UK government Department for Business, Energy and Industrial Strategy (BEIS) to further develop an innovative offshore energy storage system…
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