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…
London-listed RockRose Energy has said that the first of two infill development wells at West Brae asset in the UK North Sea has successfully completed and is delivering in line with expectations.Following the completion of this well, the Noble…
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…
Global classification society DNV GL has awarded a conformity statement to Norwegian solar energy company Ocean Sun for its floating solar design methodology.The conformity statement is the first of its kind and was issued following a thorough…
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…
Spanish energy company Iberdrola has agreed to buy the remaining 30% interest in Ailes Marines, a company developing the Saint-Brieuc offshore wind farm in France.Iberdrola said the transaction would add momentum to the project, which is scheduled to begin construction in 2021…
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 size of the prize of so-called digitalization technologies is enormous. How much is reality and how much is hype?UK-based analyst firm Wood Mackenzie asked this very question. The results are perhaps not that surprising.Speaking at Offshore Europe…
The European Investment Bank (EIB) has agreed to lend 250 million euros to the electricity transmission company TenneT for the western section of TenneT’s “Zuidwest 380 kV” project. According to the bank's statement, the project will enable…
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