Archer Limited has signed a term sheet with Baker Hughes to potentially acquire Baker Hughes’ coil tubing and pumping (“CT&P”) business in the United Kingdom. 'The CT&P business fits well within Archer’s overall strategy to grow our drilling…
Sri Lanka is preparing to issue two-year oil and gas exploration licenses for as many as 900 offshore blocks for foreign firms to scout for energy resources and bring in vital investments to the crisis-hit country, a top official told Reuters on Thursday…
Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained the biggest source of power, National Grid data showed on Friday.Britain has a target to reach net zero emissions by…
Greencoat Renewables has agreed to buy 22.5% of the Butendiek offshore wind farm in Germany from Marguerite Pantheon.The wind farm is located in Germany's exclusive economic zone in the North Sea and consists of 80 Siemens Gamesa 3.6 MW turbines that have been operational since 2015…
U.S. oil major Exxon Mobil Corp is suing the European Union in a bid to force it to scrap the bloc's new windfall tax on oil groups, arguing Brussels exceeded its legal authority by imposing the levy.The windfall profits tax is 'counter-productive'…
Brazilian oil company Petroreconcavo SA has agreed to buy Maha Energy's subsidiary in the Latin American country, the companies said on Wednesday, marking another step in the Brazilian firm's ongoing expansion.According to a securities filing…
The holiday season is upon us, and as every year, this year too, Offshore Engineer features the top festive videos shared by offshore industry companies! Our personal favorites come from Oceaneering, Subsea 7, and Net Zero Technology Centre…
UK North Sea oil producer Serica Energy has agreed to buy Tailwind Energy Investments Ltd ('Tailwind') from Tailwind Energy Holdings LLP.The consideration for the acquisition comprises the issue of up to 111,048,124 new ordinary shares in Serica…
Tidal energy developer Minesto said Thursday it had installed additional offshore infrastructure in Vestmannasund, Faroe Islands, to double electricity production from two Dragon 4 (100kW) tidal energy power plants in an array set-up.The company…
Former Elliot Management activist fund manager Franck Tuil on Thursday told Wood Group to buy back some of its stock to avoid becoming a takeover target, sending shares in the oil services provider up by the most in six weeks.It is the first public campaign for his $600 million multi-strategy fund…
The Italian energy industry services firm Saipem has decided to buy the 7th-generation Santorini drillship from Samsung Heavy Industries, citing rising dayrates and an optimistic forecast for offshore drilling rig demand.To remind, Saipem first chartered the drillship from Samsung in late 2021…
Norwegian Energy Company ASA (Noreco) has reached a Final Investment Decision (“FID”) on two infill wells in the Danish North Sea.The two wells will be drilled at the Tor reservoir in the Halfdan North East area, located in the central part of the Danish North Sea…
The German government wants to buy either a majority stake or all of the German subsidiary of Dutch power grid operator TenneT as part of Berlin's planned transition towards sustainable energy use, two German government sources told Reuters…
Eni is in preliminary talks to buy private-equity backed gas and oil producer Neptune Energy for around $5 billion -$6 billion, a source with knowledge of the matter said on Wednesday, adding that no official bid had been submitted.Neptune produces around 130…
Technip Energies is leading a 13-partner consortium that is working to roll out the next generation of floating wind technology 'for a competitive, more scalable and industrial deployment.'The initiative, called NextFloat, launched in Paris earlier this month…
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