Teras Offshore, once a notorious ‘‘big boy’’ in Singapore’s offshore oil & gas market and owning a varied fleet of liftboats, jack-ups, and small AHTs, has recently been forced to close its doors for good and put an end to years of suffering and losses…
Schlumberger beat expectations with a rise in fourth-quarter profit on Friday as higher crude and natural gas prices drove demand for the world's largest oilfield services company.Oil prices surged about 50% last year and are trading at seven…
Schlumberger NV, the world's largest oilfield services company, reported a rise in fourth-quarter profit on Friday, as higher crude and natural gas prices drove up demand for its services and equipment.Oil prices surged about 50% last year and…
Norwegian shipowning company Norside has taken ownership of Blue Ship Invest’s platform supply vessel ‘Farland’ and will convert it into a walk-to-work vessel for the offshore wind industry.'The PX121 design by Ulstein has once more proven to be a preferred design for conversions into new segments…
The U.K.’s Department for Business, Energy, and Industrial Strategy (BEIS) has granted £10 million for the design and construction of a new floating wind turbine demonstrator off the coast of Scotland.The SENSE PelaStar project will feature SENSEWind’s turbine self-installation system…
Bumi Armada, a Malaysian offshore service firm and FPSO provider, has decided to wind up its two dormant subsidiaries.The company said that its subsidiaries Offshore Marine Ventures Sdn Bhd and Bumi Armada Ship Management Sdn Bhd, had approved…
A unit of offshore driller Seadrill Ltd on Tuesday filed a fast-tracked reorganization plan in Houston bankruptcy court, where it expects to seek approval of the proposal on Wednesday. The case comes just a few months after its parent entity emerged from its own bankruptcy proceeding…
Indonesia's oil lifting, or ready-to-sell production, narrowly missed its target and fell for a fifth straight year in 2021, after a failure to tap new sources and as older fields matured, energy minister Arifin Tasrif said on Wednesday.The Southeast Asian country's oil lifting came in at 660…
Italian offshore oilfield services company Saipem has won $1.1 billion worth of offshore contracts in Australia and Guyana with Woodside and ExxonMobil, respectively.In Australia, Woodside has granted Saipem the Notice to Proceed (NTP) for a contract related to the Scarborough project…
According to Rystad Energy research, the market for floating production, storage, and offloading (FPSO) units almost brushed off the pandemic's effect in 2021, driven mostly by Brazil demand, and is predicted to continue apace in 2022, with 10 new awards expected…
Portfolio investors have started to rebuild bullish positions in the oil market, reassessing earlier fears about the likely impact of the Omicron variant of coronavirus on major economies and passenger aviation in 2022.Hedge funds and other…
Oil rose towards $79 a barrel on Monday supported by tight supply and hopes of further demand recovery in 2022 spurred in part by a view that the Omicron coronavirus variant is unlikely to significantly dampen the outlook.Libyan oil output will be cut by 200…
The finalists for the 2022 Subsea Expo awards, a UK-based subsea-focused exhibition and conference, have been announced.The awards ceremony, organized by the Global Underwater Hub, will take place on February 23, 2022, at P&J Live in Aberdeen…
Norwegian offshore energy engineering and construction services firm Aker Solutions has won a contract with Heerema Marine Contractors to recycle offshore installations from the Heimdal and Veslefrikk fields in Norway.The firm contract follows a letter of intent signed in March 2021…
Brent crude oil rose towards $77 on Monday due to hopes that the Omicron COVID-19 variant will have a limited impact on global demand in 2022, even as U.S. crude came under pressure from flight cancellations amid surging cases.More than 1,300 flights were cancelled by U…
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