The North Sea operator Serica Energy has halted production from Bruce, Keith and Rhum (BKR) fields, after an inspection unveiled issues aboard the Bruce offshore platform.'During a Bruce platform inspection, the condition of an unused seawater…
Thai oil company PTTEP reported a 40 percent rise in the full-year net profit, boosted by increased sales volumes from acquired assets and an increased stake in the Bongkot offshore field.Its 2019 net profit was 1,569 million, increasing by 40% from 2018…
Royal Dutch Shell is cutting the pace of its vast $25 billion share buyback program after lower oil and natural gas prices halved its profit in the last three months of 2019, sending its shares to their lowest since July 2017. While the Anglo…
Subsea Integration Alliance, a JV between Subsea 7 and OneSubsea, has been awarded an exclusive contract by Equinor for the Front End Engineering Design (FEED) study for the SURF (Subsea, Umbilical, Risers and Flowlines) on its Bacalhau (formerly Carcará) project…
Oilfield services provider TechnipFMC has chartered the Skandi Vitoria pipelay support vessel.The Brazilian built pipelay support vessel is owned by the joint venture between DOF Subsea (50%) and TechnipFMC (50%).The contract for the Skandi Vitoria will start in January and is for two years…
Japan's Modec has won an order from Equinor to supply an FPSO for the Norwegian firm's Bacalhau (formerly Carcará) field offshore Brazil. According to Equinor and Modec, this will be the largest FPSO in Brazil.'This contract is based on a two-step award…
Oslo-listed drilling company Awilco Drilling has signed a Letter of Intent with an unnamed operator for the provision of its WilPhoenix drilling rig.Awilco said Thursday that the contract would be in support of a three well Plug & Abandonment program…
The proposed merger between Prosafe and Floatel, two of the largest offshore accommodation providers, has hit a stumbling block in the UK after an in-depth review by the competition authority said the deal 'raises competition concerns.'The two…
British energy market regulator Ofgem has launched an investigation into National Grid and Scottish Power’s delivery of a high-voltage direct current (HVDC) subsea cable which carries energy from Scottish windfarms to north Wales.The Western HVDC - known as Western Link - is a £1…
Danish energy giant Ørsted has entered into an agreement with the Port of Virginia to lease a portion of the Portsmouth Marine Terminal for offshore wind staging materials and equipment.According to Virginia governor's office, Orsted could use…
The global provider of mobile satellite communications Inmarsat and the Panasonic Avionics Corp subsidiary ITC Global have announced a five-year strategic collaboration.The partnership enables the organisations to combine their highly complementary…
The global wind power industry is expected to install more than 626,800 MW of new capacity over the next decade, said a report.According to a report from Navigant Research, this new capacity represents a market worth more than $92 billion in 2019 and more than $1 trillion over the forecast decade…
For any new offshore oil and gas project, calculating costs is key. Operators must assess both up-front capital expenditure (capex) as well as expected ongoing operational expenditure (opex) over the life of the project and weigh these figures…
Mexico's state oil company, Petroleos Mexicanos, wants operational control over a major offshore oil area discovered by a consortium of private companies before development gets under way, its top official said on Wednesday.Pemex Chief Executive…
Some 58.5 billion cubic meters (bcm) of natural gas were shipped from Russia to the EU via the Nord Stream pipeline in the Baltic Sea.Nord Stream AG, the operator of the 1,224-kilometer twin pipeline shared the number on Wednesday.It said: 'Thanks to uninterrupted operation throughout the year…
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