Over the past 14 months, 44 ultra deepwater floating rigs have been scrapped, amounting to more retirements than over the past 20 years combined. The figures, presented by Seadrill in its third quarter results, serve to underline the continuing tough market conditions for offshore drillers…
EDP Renewables (EDPR), Mitsubishi (through its subsidiary Diamond Generating Europe), Chiyoda (through its subsidiary Chiyoda Generating Europe), Engie and Repsol entered into an agreement to implement a floating offshore wind farm off the coast of Northern Portugal…
Image: R. Bradley Forth/ Northern Offshore Northern Offshore announced that R. Bradley Forth has joined the company as senior vice president and chief financial officer. “[Forth] will…
Houston headquartered Marathon Oil has agreed to sell all its operated producing properties in the US Gulf of Mexico and a tranche of non-operated interests for US$205 million. The deal with an undisclosed buyer is said to be part of…
Several oil and gas majors put in their bids worth more than US$907 million ($1.2 million CAD) for a chance to explore about 2.6 million hectares of the Canada-Newfoundland and Labrador offshore area, according to the Canada-Newfoundland and Labrador Offshore Petroleum Board (C-NLOPB)…
Dong Energy has awarded a contract for the provision of cable installation and trenching work for its Race Bank offshore wind farm to DeepOcean. Offshore work will be carried out in 2016/2017 from DeepOcean’s in-house fleet of dedicated cable installation and trenching vessels…
Faroe Petroleum has completed an up to US$20 million deal to acquire Roc Oil (GB Holdings), which holds 12.5006% interest in the Blane field and a 12.00% interest in the Enoch field, both in the UK North Sea. Roc Oil GB is a subsidiary of Roc Oil Company…
Some 40-50% of savings or efficiency gains need to be made if the industry is going to survive the low oil price regime we are in, an industry event was told in Aberdeen today. 'For us to survive this long-term, to get by on the oil price as it is…
The numbers are staggering. At US$50/bbl, at least 20% of production in the North Sea is loss making, an industry event was told last week. And that is likely to be a conservative estimate. Faced with what has been called “a perfect storm” by many – high operating costs…
Germany's RWE Innogy has signed up three new project partners for Galloper Wind Farm, enabling construction on the project to start offshore England next month. The 366MW Galloper project is to be funded by the UK Green Investment Bank (GIB)…
As Stone Energy reported a net loss of US$8.4 million in Q3 2015, the company’s operations in the Gulf of Mexico are moving full steam ahead, with exception of the decision to shed a minority stake in one non-operated project, in addition to cutting some of its workforce in Q4…
Hibiscus Petroleum's wholly-owned subsidiary Carnarvon Hibiscus (CHPL) has commenced drilling operations at its Sea Lion-1 exploration well, off the coast of the state of Victoria, in southeast Australia. Not to be confused with Premier Oil's Sea Lion project offshore the Falkland Islands…
Houston headquartered Apache has unveiled a string of discoveries it has made in the UK North Sea which could increase its total North Sea reserve base by 50% and result in investment in new production facilities. The company says it has made two 'significant' discoveries in the Beryls area…
Statoil has made the final investment decision to build the world’s first floating wind farm: The Hywind pilot park offshore Peterhead in Aberdeenshire, Scotland. The decision triggers around NOK2 billion investment, realizing a 60-70%…
US-based Era Group’s Brazilian joint venture Aeróleo Taxi Aero received notification from Petroleo Brasileiro (Petrobras) that Petrobras will cancel the ongoing tender process for heavy and medium helicopters, leaving the helicopter with a potential workforce reduction…
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