Production efficiency on the UK Continental Shelf (UKCS) has improved for the seventh consecutive year and for 2019 reached 80%, three years ahead of the 2022 target, the UK Oil and Gas Authority (OGA) said Thursday.Production efficiency is…
The Japan Wind Power Association said on Thursday it aims to expand the country's offshore wind power installed capacity to 10 gigawatts(GW) in 2030 and 30-45 GW in 2040.Offshore wind power currently provides only a tiny fraction of Japan's electricity supply but is set to grow after a law…
A former manager of consultancy Unaoil was sentenced to three years in jail by a London court on Thursday – the second Unaoil executive to be jailed for bribing an Iraqi official to secure a $55 million oil deal after the fall of Saddam Hussein in 2003…
Russian oil and gas company Sakhalin Energy has started seasonal maintenance of its Molikpaq offshore oil and gas platform, at the Russian far east.Sakhalin Energy said Friday that over 300 people, including about 160 maintenance contractor personnel…
Norwegian oil and gas company Equinor will sell a 40.8125% interest in and transfer operatorship of the Bressay oil field development on the UK continental shelf to UK-based EnQuest. The initial consideration is GBP 2,2 million (USD 2,8 million)…
Classification society ABS said it has updated its guides addressing both floating and bottom-founded offshore wind turbines.The revised guides incorporate updated industry best practices and industry feedback, lessons learned from a range of…
ConocoPhillips said on Thursday it expects production curtailments in the current quarter to be roughly half as much as last quarter and will restore most of its output by the end of September, after the oil and gas producer slashed about a third of its output in April as oil prices plunged 41%…
Offshore Heavy Transport (OHT), a company specializing in, well, offshore heavy transport, has decided to diversify its offering and dive into the offshore wind turbine generator installation business.OHT said Thursday it had entered into a…
Leistritz Pumpen GmbH is a long and storied name in maritime business, and with its FLEXCORE screw pumps the company claims to provide an unusually wide application window and more freedom of installation. “With FLEXCORE, Leistritz has created…
BP suspended its Alfa platform in Azerbaijan on Thursday for planned maintenance that will last for five days, it said in a statement.The oil major uses the Alfa platform to produce natural gas at the Shah Deniz gas field in the Caspian Sea…
ConocoPhillips reported a wider-than-expected loss on Thursday, as the oil and gas producer was hit by a plunge in crude prices due to a short oil price war and coronavirus-induced lockdowns that sapped demand for fuel.The pandemic destroyed…
Rising OPEC and U.S. oil supply, coupled with stalled economic and crude demand recovery, have pushed the futures market structure back to indicating a surplus, last observed during oil's collapse in April and May amid the coronavirus pandemic…
The Norwegian offshore oil and gas safety body PSA Norway has granted Equinor an approval to use the Maersk Intrepid jack-up at the Martin Linge offshore oil and gas field.The consent is for the use of the low-emissions rig for production drilling…
Offshore drilling contractor Pacific Drilling has lost a two-well contract for its Pacific Sharav drillship with Murphy Oil, but has managed to secure a ten-well deal with the same client, only at a later date.The drillship recently completed…
Tim Duncan, CEO of Talos, an oil and gas company focused on exploration and production in the Gulf of Mexico, has been appointed Vice Chairman of the U.S. National Ocean Industries Association (NOIA).Duncan will join NOIA Chairman and Halliburton…
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