Oslo-listed company Magnora plans to use the cash generated from oil and gas production at the Western Isles and Penguin offshore projects for renewable energy investments. Magnora, formerly known as Sevan Marine, was formed in 2018 following…
Kosmos Energy has said that it has, with its partners in the offshore Senegal/Mauritania Greater Tortue Ahmeyim project, signed a deal to sell 2.45 million tonnes per annum of LNG to BP's subsidiary BP Gas Marketing.The sales and purchase agreement is valid for an initial term of up to 20 years…
The energy companies that own Israel's offshore Leviathan gas field are seeking partners to build a floating liquefied natural gas (FLNG) platform and possibly to explore for oil in ultra-deepwater, a CEO from the group said. Leviathan, one…
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…
Israel's Energy Ministry said on Thursday it limited production at the new Leviathan natural gas field to 60% after a malfunction was discovered in the project's subsea pipeline.The Leviathan partners said in a statement there was no malfunction…
Australian oil and gas giant Woodside has delayed the long-expected Final Investment Decision for the massive Browse gas development off W. Australia again. The offshore area comprising the Brecknock, Calliance, and Torosa fields - the Browse resource - sits in the offshore Browse Basin…
The UK offshore decommissioning specialist Well-Safe Solutions has awarded 'significant work scope' to Schlumberger for the provision of Plug and Abandonment Well Services.The company, formed in 2017, said the Schlumberger scope included the supply of cementing service…
Heriot-Watt University researchers are to map out the UK’s best sites for carbon capture by studying the geology of depleted gas fields in the North Sea.The team led by Professor John Underhill will use data from industry regulator the Oil and Gas Authority's (OGA) National Data Repository (NDR)…
RockRose Energy has signed a deal to buy Speedwell Energy, a company owning a 100% stake in the Cotton gas field in the UK sector of the Southern North Sea. RockRose said Tuesday that the deal was 'for a limited initial consideration,' with…
Brazilian oil company PetroRio has agreed to buy the OSX-3 FPSO for $140 million, and acquire an 80 percent stake in the Dommo Energia's Tubarao Martelo field off Brazil where the FPSO is currently deployed. The OSX-3 FPSO was built and delivered to the Tubarão Martelo Field in 2012…
PGNiG Upstream Norway, a subsidiary of Polish Oil and Gas Company (PGNiG), has obtained a final administrative consent to purchase additional 10% interests in the PL636 and PL636B licences in the North Sea.Following the transaction, PGNiG Upstream…
Indonesia plans to set up or designate a state firm to carry out upstream oil and gas activities, to try to curb red tape and regulations that are blamed for hindering investment in Southeast Asia's biggest economy. The government of President…
Succeeding with marginal developments was a central topic to an entire afternoon session and yesterday’s Subsea Expo event in Aberdeen.Led by the Oil and Gas Authority (OGA), it was a session with some genuinely new ideas and open minds on show…
Offshore oil and gas production is very energy intensive, and with declining field pressure and the need for enhanced production the energy demand even increases substantially in the later lifetime of an oil and gas production facility. The…
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…
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