Latest News - page 448

 

Reducing Carbon Footprint: Odfjell Drilling's Offshore Rig Successfully Tests Biofuel Operation

May 25, 2023

Norwegian offshore drilling firm Odfjell Drilling said via social media Thursday that it has, with oil firm Equinor, recently completed a pilot project operating an offshore drilling rig on renewable biofuel. According to the company, during the pilot…

BW Ideol, Elawan Energy Eye Joint Development of Floating Offshore Wind Projects in Spain and Portugal

May 25, 2023

Floating wind farm and technology developer BW Ideol has signed a Head of Terms with Elawan Energy, an ORIX company based in Spain, for the joint development of a multi-GW floating offshore wind pipeline off Spain and Portugal, subject to further…

First US-Built Offshore Wind Substation Sets Sail

May 25, 2023

Offshore wind developers Ørsted and Eversource marked the sailaway of the first U.S.-built offshore wind substation, which departed a Texas fabrication facility Wednesday. The substation is transiting across the Gulf of Mexico and then up the…

Offshore Wind: RWE Becomes Sole Owner of 1.6 GW Nordseecluster

May 25, 2023

Northland Power on Thursday announced the sale of its full 49 percent stake in the Nordseecluster offshore wind portfolio to its partner on the portfolio, RWE Offshore Wind GmbH (RWE). With this, RWE will assume full ownership of the projects for a cash consideration of around 35 million euros…

Shell Extends Contract for Offshore Drilling Rig in Namibia

May 25, 2023

Norwegian offshore drilling company Odfjell Drilling has, on behalf of Northern Ocean, agreed a contract extension for the Deepsea Bollsta drilling rig with Shell.The contract extension for the offshore drilling rig, owned by Northern Ocean…

Substation for First Commercial-scale US Offshore Wind Farm Leaves Denmark

May 25, 2023

The offshore substation and jacket foundation, bound for the U.S. offshore wind project Vineyard Wind 1, have left the quay at Bladt Industries’ production site in Southern Denmark, heading for its destination 35 miles from mainland Massachusetts…

Offshore Accommodation Firm Prosafe Appoints Interim CEO

May 25, 2023

Prosafe, an Oslo-listed offshore accommodation rig provider, has appointed Reese McNeel, the current CFO, to interim CEO and CFO effective immediately.The decision follows after Jesper Kragh Andresen, the current CEO, said he would in April…

Chevron Launches Sale of Congo Oil Assets - Sources

May 25, 2023

Chevron has launched a sale process for its oil and gas assets in Congo as the U.S. energy giant continues to focus operations on newer and more profitable production, industry sources said.The Congo assets could fetch up to $1.5 billion, according to two sources close to the process…

Kashagan Oilfield Output Drops after Injection Well Closures

May 25, 2023

Oil output at Kazakhstan's giant Kashagan oilfield fell this month after its operator shut two offshore injection wells on May 20 following the detection of sour gas during routine sampling, the company said on Thursday.The North Caspian Operating…

Archer Wins 5-Year Contract with Perenco UK for Coiled Tubing and Pumping Services

May 25, 2023

Oilfield services company Archer said Thursday it had won a five-year contract with Perenco UK Limited in the United Kingdom for the provision of Coiled Tubing and Pumping services.The contract contains two options of one year each and started May 3…

Floating Solar Market Set to Surpass 6 GW by 2031, Says Wood Mackenzie

May 25, 2023

The global floating solar market is expected to pass the six-gigawatt (GW) threshold by 2031, as PV developers struggle to meet growing solar demand and look to alternate development technologies, energy intelligence firm Wood Mackenzie said in a report Wednesday…

Dorado Field Development Receives Boost with Carnarvon Energy's Bedout Divestment Progress

May 25, 2023

The Australian offshore oil and gas company Carnarvon Energy is nearing completion of the divestment of a portion of its assets in the Bedout Basin, off Australia, with the closing of the transaction targeted for mid-year.Carnarvon Energy in…

Norway Oil Firms Raise 2023 and 2024 Investment Forecasts Due to Cost Inflation

May 25, 2023

Cost inflation has led Norwegian oil and gas companies to increase their investment forecasts for 2023 and 2024, a national statistics office (SSB) survey showed on Thursday. The country's biggest business sector expects to invest 197.8 billion Norwegian crowns ($18…

Aker BP's Yggdrasil Development Bolstered by New Offshore Oil Discovery

May 25, 2023

Norwegian oil and gas company Aker BP said it had made a significant oil discovery at the Øst Frigg Beta/Epsilon exploration well in the Yggdrasil area of the Norwegian North Sea.'Preliminary estimates indicate a gross recoverable volume of 40-90 million barrels of oil equivalent (mmboe)…

Exxon-Led Group Earned Nearly $6 Billion in Guyana Last Year

May 25, 2023

Exxon Mobil and two partners earned $5.8 billion last year from offshore oil production in Guyana, according to audited results filed in an appeal of a court ruling that found them in breach of insurance obligations.The filing is the first disclosure of 2022 profits Exxon…

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