Japanese companies MODEC, Mitsui, MOL, and Marubeni will jointly invest in the Petrobras-bound Marlim FPSO.MODEC in October 2019 received a letter of intent from Petrobras for the supply, charter, and operations of the Marlim-1 FPSO.Now Mitsui…
Bahamas Petroleum expects to start drilling at its first exploration well offshore The Bahamas in April 2020. The company said Thursday that the well, named Perseverance 1, would be drilled in April, with results expected in the second quarter of 2020…
The Southeast Asian focused oil company Coro Energy will not be buying a share in the Bulu PSC, offshore Indonesia, citing increased risks around the Bulu project.'The company had in September 2018 agreed to buy a 42.5% interest in the shallow water (60m) block offshore East Java…
Offshore oil and gas industry service provider London Offshore Consultants has suffered a cyberattack, breaching data of some of LOC's clients.The marine and engineering consultancy said in a statement on Thursday:'LOC Group regrets to confirm that it was recently the victim of cyber attacks…
Lawyers representing former Nigerian oil minister Dan Etete told Reuters on Friday it was 'incredible' that a court had issued a warrant for his arrest in relation to a $1.3 billion oil deal scandal nine years after it was struck. Economic and…
British-headquartered specialist provider of submarine cables Global Marine Group (GMG) has been acquired by an investment affiliate of private equity firm J.F. Lehman & Company (JFLCO) for around $250 million.With a legacy dating to 1850, GMG…
The 128MW Formosa 1 offshore (FOWI) wind farm, off the coast of Taiwan, has deployed operations and maintenance (O&M) software from Renewable Strategy Limited.The RSL Manager - a computerized maintenance management software (CMMS) system - will monitor…
The market for Offshore Supply Vessel (OSV) is expected to grow at a CAGR of roughly 8.3% over the next five years, will reach US$ 25 billion in 2023, from US$ 15.5 billion in 2017, according to a new study.The Anchor Handling Tug Supply (AHTS) vessels segment accounted for the largest share…
Canadian international oil and gas production company Zenith Energy has established a Norwegian subsidiary - Zenith Norway - as a precursor to securing its first acreage off the country. Zenith said it intends to use Zenith Norway as a vehicle…
The developer of renewable and sustainable energy projects, Simec Atlantis Energy, has hailed progress at its MeyGen project – announcing that its 2019 performance represents a record period of uninterrupted generation from a tidal turbine venture of its kind…
The global leader in offshore wind Ørsted A/S will become carbon neutral by 2025. 'This will make Ørsted the first major energy company to reach net-zero emissions in its energy generation - far ahead of science-based decarbonization targets for limiting global warming to 1…
Global Offshore Decommissioning Market, valued approximately at USD 5.84 billion in 2018, is anticipated to grow with a growth rate of more than 4.71% over the forecast period 2019-2026.Growing number of aging offshore oil and gas platforms…
Increasing activity, led by scaled down, accelerated projects and subsea tiebacks is helping drive an increasing business in the subsea industry. But there’s slim chance of revisiting the boom days of 2013, the Society of Underwater Technology’s…
“Fit at 50”, “life begins at 70” and “the swinging 60s” were all slogans chosen to reflect oil price market sentiment in 2017, 2018 and 2019, respectively. This year, at the Society of Underwater Technology’s (SUT) annual Global Subsea Market Outlook Business Breakfast…
The swollen number of orders felt in 2019 for floating production, storage and offloading vessels (FPSO) was, it turns out, well above the average number of yearly go-aheads seen in over the past 10 years, a new floater report says.Oil prices…
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