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UK North Sea: Exploration Well Count on Decline. Success Rate Up

Dec 02, 2021

The UK oil and gas industry regulator Oil and Gas Authority has launched its second Wells Insight report, which shows that the number of exploration and appraisal wellbores spudded has been on a decline, however, success rates have improved…

Brazil's Economy Minister Says Oil Firm Petrobras Should be Privatized Before It is 'Irrelevant'

Dec 02, 2021

Brazilian Economy Minister Paulo Guedes said on Wednesday that state-run oil company Petrobras should be privatized before it becomes irrelevant and oil loses value, suggesting the government could use the sale proceeds to reduce poverty.Citing…

Colombia Oil and Gas Auction Attracts 30 Bids with Estimated Value of $148.5M

Dec 02, 2021

Colombia received bids for 30 blocks from seven companies during its latest oil and gas auction, the government said on Wednesday, as the Andean country looks to maintain energy self-sufficiency amid a drive to develop renewable sources.The…

Exxon to Hold Spending at $20B to $25B Through 2027

Dec 02, 2021

Exxon Mobil on Wednesday set annual capital spending through 2027 at $20 billion to $25 billion, allocating money to low-carbon projects and extending its previously projected investment rate for two years.The top U.S. energy producer slashed costs after a historic $22…

SSE, Equinor Reach FID on 1.2GW Dogger Bank C Offshore Wind Farm

Dec 02, 2021

SSE Renewables, with partner Equinor, has reached financial close on Dogger Bank C, the third phase of what will be the world’s largest offshore wind farm, located in the UK North Sea.The two firms are already building the first two phases of Dogger Bank Wind Farm…

Floating Wind Tech: TetraSpar Demonstrator Starts Operation Off Norway

Dec 01, 2021

TetraSpar Demonstrator, dubbed the world’s first fully industrialized floating offshore wind foundation, has been officially commissioned and is now in operation off the coast of Norway.The floating wind foundation, fitted with an offshore wind…

Update: Halliburton Says Not buying Exxon Stake in Iraqi Oilfield

Dec 01, 2021

Halliburton has not proposed buying Exxon Mobil's stake in Iraq's West Qurna 1 oilfield, a spokesperson for the U.S. oil services company said on Wednesday, denying comments from a senior official from Iraq's Basra Oil Co. (BOC).'We are not…

Ørsted Reaches FID on Two German Offshore Wind Farm Projects

Dec 01, 2021

Danish offshore wind farm developer Ørsted has taken the final investment decision (FID) on the two German offshore wind farms Gode Wind 3 (242 MW) and Borkum Riffgrund 3 (900 MW), expected to be commissioned in 2024 and 2025, respectively.Rasmus Errboe…

UAE's ADNOC to Invest $127B in 2022-26 as Oil, Gas Reserves Rise

Dec 01, 2021

Abu Dhabi National Oil Company (ADNOC) announced on Wednesday a $127 billion capital spending plan for 2022-2026, as it reported an increase in the United Arab Emirates' (UAE) oil and natural gas reserves.The state-owned company said national…

RWE Wins Rights to Build Thor, Denmark's Largest Offshore Wind Farm

Dec 01, 2021

Thor Wind Farm I/S, a consortium RWE AG, RWE Renewables GmbH, RWE Renewables Management UK Limited, has won the concession to build Thor offshore wind farm in Denmark, after Denmark held a lottery to decide the winner on Dec. 1.Thor offshore…

Stena Don Offshore Rig En Route to Morocco to Drill at Chariot's Anchois Site

Dec 01, 2021

Africa-focused oil and gas company Chariot has informed that the Stena Don semi-submersible drilling rig has started its mobilization to Morocco.The drilling rig was recently used by the UK-focused oil company Tailwind to drill the Evelyn field development well…

Odfjell Drilling Nets One-well Gig with Lundin Energy for Deepsea Stavanger Rig

Dec 01, 2021

Swedish oil company Lundin Energy has awarded a one-well contract to Odfjell Drilling for the use of the Deepsea Stavanger drilling rig off Norway.The rig owner said Wednesday that the well had been exercised as part of the options agreed in…

Pori Offshore Construction Changes Name

Dec 01, 2021

Finland's offshore construction firm Pori Offshore Construction has changed the company name to Enersense Offshore Oy.The name change comes as Enersense acquired the entire share capital of Pori Offshore Constructions Oy on October 4, and wants…

OWGP Launches Funding Call for UK's Offshore Wind Supply Chain Firms

Dec 01, 2021

The Offshore Wind Growth Partnership (OWGP), an organization that describes itself as the go-to enabler to develop the UK offshore wind supply chain, has released its latest Development Grant funding call, with £3.5 million (around $4,6 million)…

Huisman's Cranes for Cadeler's New Wind Turbine Installation Vessels

Dec 01, 2021

Dutch offshore crane maker Huisman has secured a contract from China's COSCO Shipping (Qidong) Offshore Co., Ltd. to design and build two >2,000mt Leg Encircling Cranes (LEC) for Cadeler's recently ordered two new build X-class vessels.The identical…

Current News

Offshore Wind Could Power Alcoa's Smelter in Australia

Offshore Wind Could Power Alcoa's Smelter in Australia

U.S. Officials: Nord Stream 2 Pipeline to be Shut Down if Russia Invades Ukraine

U.S. Officials: Nord Stream 2 Pipeline to be Shut Down if Russia Invades Ukraine

Reach Subsea Acquires OCTIO from Equinor

Reach Subsea Acquires OCTIO from Equinor

Oil CEOs Say Transition from Fossil Fuels to Renewables Could Be 'Messy'

Oil CEOs Say Transition from Fossil Fuels to Renewables Could Be 'Messy'

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