Africa-focused Tullow Oil reported its first annual net profit in five years on Wednesday and said it would resume dividends with a 4.8 cent per share payout as it sets its sights on East African projects and drilling in Guyana.As flagged in November…
In its 2019 “Annual Energy Outlook” the US Energy Information Administration (EIA) projects that electric generation from renewables (wind, solar, hydro) will go from 500 billion KWh in 2018 to 1500 billion KWh in 2050, just 30 years from now…
Europe installed a total of 2.6 gigawatts (GW) of new offshore wind capacity in 2018, an 18% increase which takes the region to a total capacity of 18.5 GW.According to new figures published this week by the region’s wind energy trade body, WindEurope…
Malaysian drilling contactor Velesto Drilling said that the oil company Hess Exploration and Production Malaysia has extended the contract for the Naga 8 jack-up drilling rig in North Malay Basin, Malaysia.Naga 8 jack-up rig is owned by Velesto Drilling (previously known as UMW Offshore Drilling)…
Norwegian oil exploration and development company Aker BP has received consent for exploration drilling on the Volund field using the Deepsea Stavanger rig from the offshore safety body, the Petroleum Safety Authority (PSA).According to an official release from PSA…
Global geosciences company Benthic has begun operations for Equinor on a four-month geotechnical campaign in the BM-C-33 and BM-S-8 blocks located off the coast of Brazil.Mobilization of PROD3 (Portable Remotely Operated Drill) onto the MV Sable…
UK-based provider of consultancy, health & safety advisory, workforce solutions and software services Specialist Marine Consultants (SMC) has won a framework agreement from Total to provide geophysical acquisition supervision.SMC said that the…
Marginal Field Development Company (MFDevCo) announced Tuesday it has entered into a collaboration agreement with Siemens’ Dresser-Rand business in support of its gas to wire initiative for the development of marginal gas fields.Siemens becomes the second company…
Dana Gas will begin drilling this year in an area it says could become Egypt's next giant Mediterranean gas field, after seismic data pointed to reserves as large as 20 trillion cubic feet.That data will be put to the test beginning in April or May…
The March/April edition of Offshore Engineer magazine will include features on . . . Deepwater: The Big New HorizonMore and more operators are turning once more to deep water exploration. Elaine Maslin takes a look at some of the hot spots explorers are targeting over the next year…
Underwater sensor technology company Sonardyne International said it is partnering with Shell Brasil and Brazilian research institute Senai-Cimatec to develop autonomous technology to make the monitoring of Brazil’s deepwater pre-salt oil fields more efficient…
Oil platform builder Kvaerner on Tuesday unexpectedly proposed its first dividend since 2015 and said it may make another such payment later this year, sending its shares soaring.The company said it expected to compete for contracts worth 30-50 billion Norwegian crowns ($3…
Dutch offshore service provider Ampelmann announced Tuesday it has opened a new office in Sakhalin, Russia, in a move to expand its presence in the local market. The office will be manned by a full-time team of two – operations engineers Cyril Kooijmans and Roman Andreev…
Norwegian energy company Equinor has come up dry in the drilling of its first wildcat well in production licence 857 in the southeastern part of the Barents Sea.Equinor, as operator of production licence area Gjøkåsen, drilled 7132/2-1 targeting…
OPEC cut its forecast for 2019 world oil demand on Tuesday due to slowing economies and expectations of faster supply growth from rivals, underlining its challenge to prevent a surplus even as it starts new production cuts.In a monthly report…
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