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Mermaid Subsea Services Buys 50% Stake in Offshore Construction Vessel Millennium 3

Oct 18, 2021

Thai-based offshore services company Mermaid Subsea Services has agreed to buy a 50% ownership share in the Millennium 3 offshore construction vessel from PT David Marine for $16 million.The Millennium 3 is a DP2 construction support vessel…

Shearwater in 'Major' 3D Seismic Project Offshore South Africa

Oct 18, 2021

Offshore seismic services contractor Shearwater GeoServices has secured what it says is “a major” 3D seismic survey contract for acquisition in South Africa.Using the Amazon Warrior seismic vessel, Shearwater will acquire over 6,000 square kilometers of 3D seismic data…

"THE RIG" - Saudi Arabia Launches Offshore Platform Inspired Tourism & Entertainment Project

Oct 17, 2021

Saudi Arabia's sovereign wealth fund, the Public Investment Fund, announced on Saturday the launch of 'THE RIG', which it said would be the world's first tourism destination on offshore platforms.The fund, the engine of Crown Prince Mohammed…

Esgian: Seadrill’s Fleet Value Plunges

Oct 15, 2021

Seadrill’s creditors are now the proud owners of 24 offshore rigs. The most important question for them: what are they worth? Esgian's Hans Jacob Bassoe writes.Earlier this year, Seadrill filed for chapter 11 for the second time since 2017 and…

RockRose Takes Over SSE's UK North Sea Gas Fields

Oct 15, 2021

Viaro Energy's subsidiary RockRose has completed the acquisition of several producing assets in the UK North Sea from SSE for £120 million (US$164 million) with an additional contingent payment of £40 million (US$54 million).RockRose acquired…

New Kupe Compressor to 'Allow Us to Suck Harder on the Straw,' NZOG CEO Says

Oct 15, 2021

Australian oil and gas company Beach Energy has completed work on the Kupe compression project in New Zealand, which will allow for the gas plant, which had seen declining production in recent years, to produce at full rate from the Kupe offshore gas field…

Germany's Nord Stream 2 Gatekeeper: The Long Road Until Gas Flows

Oct 15, 2021

The Nord Stream 2 pipeline is completed and ready to pump Russian gas to Europe, but nothing is flowing yet because it is still awaiting clearance from Germany's energy regulator.Europe's most controversial energy project, which is led by Russian gas giant Gazprom…

Crystal Steel to Build Offshore Wind Steel Fabrication Plant in Maryland for Ørsted's U.S. Projects

Oct 15, 2021

Offshore wind developer Ørsted has said Friday it had signed a deal to establish Maryland’s first offshore wind steel fabrication center at Crystal Steel Fabricators in Federalsburg, Maryland. 'Ørsted’s investment in Crystal Steel will enable…

Lukoil, Gazprom Neft in Enhanced Oil Recovery Pact

Oct 15, 2021

Russian oil companies Lukoil and Gazprom Neft have struck a deal to cooperate in the area of oil recovery enhancement projects. 'The agreement provides for joint work on improving chemical methods of enhanced oil recovery. It will lay the foundation…

Oil Prices Hit a Fresh Three-year High on Supply Deficit Concerns

Oct 15, 2021

Oil prices hit a fresh three-year high on Friday, climbing above $85 a barrel on forecasts of a supply deficit over the next few months as rocketing gas and coal prices stoke a switch to oil products.Brent crude futures were up 80 cents, or 0…

ZE PAK, Ørsted to Create JV for Offshore Wind Projects in Poland

Oct 15, 2021

Poland’s largest privately-owned energy producer ZE PAK, which is looking to shift from coal to renewables, and Denmark's Ørsted world's largest offshore wind developer have signed a letter of intent to jointly take part in the upcoming auction for seabed leases in the Polish part of the Baltic Sea…

Bounty Farms Into Coastal's Cerberus Project, Off W. Australia. Drilling Planned for 2022

Oct 15, 2021

Australian oil and gas firm Bounty Oil and Gas has agreed to farm into four oil-prone offshore licenses in Western Australia, owned by Coastal Oil and Gas.Bounty will acquire a 25% stake in licenses EP  475, EP 490, EP 491 and TP 27 (collectively…

Gas Exports Lift Norway Trade Surplus Record High

Oct 15, 2021

Norway's trade surplus rose last month to a record level thanks to soaring revenues from selling gas from its offshore fields, national statistics agency (SSB) data showed on Friday.With a daily output of around four million barrels of oil equivalent…

Shell's Upstream Boss Moves to Gas and Renewables Division

Oct 15, 2021

Royal Dutch Shell has appointed Wael Sawan as head of its integrated gas and renewables division, replacing Maarten Wetselaar who will leave the energy company after 25 years.Sawan currently heads Shell's oil and gas production, or upstream…

Subsea 7, Schlumberger Secure Work on Turkey's Giant Offshore Gas Find

Oct 15, 2021

Subsea 7 has confirmed the award of a major contract by Turkish Petroleum for the Sakarya field development offshore Turkey in the Black Sea. Subsea 7 defines a major contract as being one where Subsea 7’s share of revenue is over USD 750 million…

Current News

Shearwater Introduces New Seismic Source Technology

Shearwater Introduces New Seismic Source Technology

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Wave Energy Firm Opens Aberdeen Office to Meet Demand from Oil & Gas Industry

UK Fossil Fuel Dilemma in the Spotlight as Climate Talks Near

UK Fossil Fuel Dilemma in the Spotlight as Climate Talks Near

Iberdrola to Splash $8.24B on Giant Offshore Wind Farm Project in North Sea

Iberdrola to Splash $8.24B on Giant Offshore Wind Farm Project in North Sea

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