Thai oil company PTTEP reported a 40 percent rise in the full-year net profit, boosted by increased sales volumes from acquired assets and an increased stake in the Bongkot offshore field.Its 2019 net profit was 1,569 million, increasing by 40% from 2018…
Norwegian energy company Equinor will have its new shuttle tankers powered by Gasum-supplied LNG. Shuttle tankers are used for transporting oil from offshore oil fields to onshore terminals.Gasum said Friday that the LNG supply would start when the shuttle tankers start operations during 2020…
KrisEnergy has hired the Dutch offshore survey services provider Fugro to carry out a geotechnical survey at the Apsara oil field, offshore Cambodia.The Apsara field lies over the Khmer Basin, an unproduced geological basin in Cambodian maritime waters in the Gulf of Thailand…
Iran’s Petropars will develop phase 11 of South Pars, the world’s largest gas field, after the withdrawal of French oil major Total and the China National Petroleum Corp (CNPC), Iran’s oil minister was quoted as saying on Saturday. “Now with the exit of the other two companies from the contract…
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…
China is set to see a massive lift in demand for natural gas with current usage rates set to more than triple over the next 15 years.This comes as the Chinese government pushes for a switch to cleaner energy sources from coal, implementing policies…
US-based services firm McDermott International announced on Wednesday it has been awarded a contract by BHP to provide subsea umbilicals, risers and flowlines (SURF), transportation and installation (T&I), pre-commissioning of one jacket and topsides for the Ruby Project…
European naval architecture and marine engineering consultant International Contract Engineering (ICE) group was awarded an Approval in Principle (AIP) by the American Bureau of Shipping (ABS) for its latest generic floating production storage and offloading (FPSO) hull design…
Europa Oil & Gas has relinquished its interest in LO 16/19 offshore block in Ireland's South Porcupine Basin, citing limited prospectivity.Europa farmed out a 70% stake in the LO 16/19 to Cairn back in 2017, retaining 30%. Cairn then funded the seismic acquisition campaign in 2018…
U.S. oil and gas producer ConocoPhillips reported a lower-than-expected quarterly adjusted profit on Tuesday and boosted its share buyback program by $10 billion.Investors have made higher returns a key priority, pressing oil and gas drillers…
French seismic player CGG has completed the final 3D PSDM seismic dataset from its recent 15,400-sq km (5,946-sq mi) multi-client survey of the outer Zambezi Delta in the Mozambique basin.The ultramodern data was acquired over blocks Z5-C and…
For any new offshore oil and gas project, calculating costs is key. Operators must assess both up-front capital expenditure (capex) as well as expected ongoing operational expenditure (opex) over the life of the project and weigh these figures…
Japan's Modec has won an order from Equinor to supply an FPSO for the Norwegian firm's Bacalhau (formerly Carcará) field offshore Brazil. According to Equinor and Modec, this will be the largest FPSO in Brazil.'This contract is based on a two-step award…
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…
Offshore wind farm installation company Swire Blue Ocean has awarded Blue Water Shipping a contract to transport new crane boom for its Pacific Osprey jack-up unit.Blue Water Shipping will transport Pacific Osprey’s new crane boom from NOV’s manufacturing yard to Denmark aboard SAL’s M/V Wiebke…
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