Austrian oil and gas company OMV has reportedly accidentally cut its drill pipe during drilling rig tests offshore New Zealand.The local news website Otago Daily Times on Wednesday reported that the drill pipe cutting incident happened in January…
Europa Oil & Gas has relinquished its interest in LO 16/19 offshore block in Ireland's South Porcupine Basin, citing limited prospectivity.Europa farmed out a 70% stake in the LO 16/19 to Cairn back in 2017, retaining 30%. Cairn then funded the seismic acquisition campaign in 2018…
New Age, the operator of the Etinde gas and condensate field offshore Cameroon, has signed a letter of intent with Victoria Oil & Gas for the supply of gas from the field.According to Bowleven, a partner in the Etinde field, the letter of intent…
Japanese FPSO specialist MODEC has awarded Aibel a Letter of Intent for an engineering services front end engineering and design (FEED) in relation to the recently awarded Bacalhau FPSO contract by Equinor.Bacalhau FPSO will be the largest ever…
Virginia Democratic-led lawmakers on Tuesday passed a bill to block future oil and gas development off the state's coastline, reflecting opposition to the Republican Trump administration's efforts to open Atlantic waters to fossil fuel exploration…
French seismic player CGG has completed the final 3D PSDM seismic dataset from its recent 15,400-sq km (5,946-sq mi) multi-client survey of the outer Zambezi Delta in the Mozambique basin.The ultramodern data was acquired over blocks Z5-C and…
North Sea oil & gas sector firms Legasea Ltd and Infinity Oilfield Services Ltd have formed a strategic alliance to work on offshore topsides and subsea projects.The alliance will provide clients with a competitive, integrated service across…
Commercial activity increased significantly in the offshore segment, with order intake in the last twelve months doubling to 3,343 MW, said Siemens Gamesa Renewable Energy(SGRE)Of that figure, 1,279 MW were signed in the first quarter of FY2020 (October 2019 - December 2019)…
Kongsberg Maritime AS has signed an agreement to sell its underwater technology subsidiary company Hydroid, Inc. for $350 million to shipbuilder Huntington Ingalls Industries (HII). In conjunction with the transaction, HII and Kongsberg Maritime…
U.S. oil and gas producer ConocoPhillips reported a lower-than-expected quarterly adjusted profit on Tuesday and boosted its share buyback program by $10 billion.Investors have made higher returns a key priority, pressing oil and gas drillers…
2020 will be a peak year for floating production, storage and offloading unit (FPSO) demand with up to 14 awards forecast in Wood Mackenzie’s base case scenario, half of which will be located offshore Latin America. Only two of these facilities are expected to be Petrobras units…
OSLO, Feb 4 (Reuters) - Norway may restrict oil firms' access to offshore resources in the Arctic by moving the so-called ice edge, a line that sets a legal limit on the extent to which companies can go north in search of oil.The ice edge is…
Oil output estimated at 1.2 million barrels per day by 2030, Guyana’s total annual oil revenues could approach $30 billion within 10 years and could send the country's GDP 'skyrocketing,' according to research by Rystad Energy, a Norwegian energy intelligence company…
UK-based offshore technology company Osbit said it has been awarded a contract by FTAI Ocean, a subsidiary of Fortress Transportation and Infrastructure Investors LLC (FTAI), to design and construct a new well intervention tower system.Osbit’s…
Offshore wind farm developer Orsted has set out a plan to work with its service suppliers to decarbonize the supply chain by 2040. The move follows the Danish company's last week's commitment to becoming carbon neutral by 2025, and becoming…
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