Activity in the deepwater sector took a huge hit in the second half of last decade as a result of a global oil demand/supply imbalance, downturn in oil prices, hiatus in Petrobras production floater orders and large industry cutbacks in upstream spending…
Europe installed a record 3.6 gigawatts (GW) of offshore wind capacity in 2019 but a much sharper rise is needed for the bloc to meet its climate targets, industry group WindEurope said on Thursday. Europe announced plans last year for a green deal to set a target of net-zero emissions by 2050…
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…
Projects worth $4.2 billion in capital expenditure (capex) are expected to get underwater offshore India this year and next, an event in Aberdeen this morning was told.The projects, across India’s Krishna Godavari (KG) Basin in the Bay of Bengal…
Offshore wind will constitute 25% of total wind demand in 2028, up from 10% in 2019 and will narrow the gap with offshore upstream oil and gas in terms of capital expenditure deployment, said the analyst firm Wood Mackenzie.The possibility of offshore wind becoming cheaper than coal…
U.S. engineering and construction giant KBR has won what it says is 'a major Project Management Consultancy (PMC) services contract' with the UAE-based oil company ADNOC.KBR said Monday that the contract was related to the Ghasha Concession portfolio of projects…
BP's phase three of the $12 billion West Nile Delta project offshore Egypt will come online by the end of this year, nearly 12 months behind the earlier scheduled deadline, the company said in a conference call this week.The third phase includes the development of the Raven field…
UK North Sea-focused Hurricane Energy saw its share price drop on Thursday morning after the company's scrapped plans to tie-back the Lincoln Crestal offshore well to the Aoka Mizu FPSO this summer.The company had drilled the Lincoln Crestal…
Russian and Norwegian exploration and production (E&P) operators have been expanding their operations in the Arctic continental shelf, which is estimated to hold vast deposits of hydrocarbons and rare earth minerals.Warming temperatures in the…
Tullow Oil's Orinduik Block offshore Guyana could hold 5,1 billion barrels of oil equivalent in Gross Prospective Resources, best estimate, according to Gustavson Associates, an independent third-party auditor.This is more than a billion-barrel…
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…
Norway's oil production rose in December from the previous month, beating official forecast by 12.7% as the ramp-up of a major new field continued, the Norwegian Petroleum Directorate (NPD) said on Friday.Output from the giant Johan Sverdrup…
UK-focused oil company Hurricane Energy has said that its Lancaster oil field production has exceeded expectations. The North Sea field started producing oil via the Aoka Mizu FPSO in June 2019. In an operational update on Wednesday, Hurricane said that the field had produced 15…
The global leader in offshore wind Ørsted has opened the operations & maintenance (O&M) base for the Borssele 1 + 2 offshore wind farm in Vlissingen, the Netherlands. The opening was organized together with Energy Port Zeeland.All construction…
Offshore drilling company Seadrill has hired Semco Maritime to prepare the newbuild West Bollsta drilling rig for the Norwegian Continental Shelf.The recently delivered drilling unit, currently at anchor near Tenerife, is soon to set sail for Semco Maritime's yard at Hanøytangen outside Bergen…
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