The market for floating production systems is booming, according to World Energy Reports' (WER) latest assessment of activity and developments in the offshore oil and gas market.“Business conditions and market sentiment in the deepwater sector have seldom been so positive…
Brazilian oil company PetroRio said Thursday that production from the Frade offshore field in Brazil had resumed.The news comes after the company said on August 15 that it had interrupted production in the Frade field due to an inert gas line…
Helix Robotics Solutions, the U.S. robotics division of Helix Energy Solutions Group, has extended the charter for Bordelon Marine's DP2 Jones Act-compliant Ultra-Light Intervention Vessel (ULIV) M/V Shelia Bordelon through June 2024.Helix currently…
A U.S. energy regulator on Friday gave Berkshire Hathaway Inc, the company controlled by billionaire Warren Buffett, permission to buy up to 50% of oil company Occidental Petroleum Corp's OXY.N common stock.Occidental's share price soared 9…
Renewable infrastructure fund Greencoat UK Wind plc has completed the acquisition of a net 12.5% stake in Hornsea 1 offshore wind farm in the UK.The deal was first announced on May 16, 2022, when Greencoat said it would buy the 12.5% stake in…
Russia will halt natural gas supplies to Europe for three days at the end of the month via its main pipeline into the region, state energy giant Gazprom said on Friday, piling pressure on the region as it seeks to refuel ahead of winter.The unscheduled maintenance on the Nord Stream 1 pipeline…
UK-based offshore well decommissioning firm Well-Safe Solutions has teamed up with Houston-based services company Trendsetter Engineering to equip its Well-Safe Guardian semi-submersible rig with the Trident Intervention System.'Featuring a compact yet powerful design…
Lime Petroleum, a subsidiary of Rex International Holding, has agreed to buy a 10 percent stake in the Yme oil field in the North Sea, offshore Norway, from Kuwait’s KUFPEC. Rex said Lime would pay post-tax fee $68.053 million (about NOK 633 million)…
Marine survey specialist TDI-Brooks said Tuesday it had brought online a shallow water (<75-m) pneumatic vibracore (pVC) to supplement its other electric VC options (Feritech FT550 and Rossfelder P-5). According to the company, the pVC is a lightweight (4…
Nigeria's President Muhammadu Buhari has withheld his initial approval of Exxon Mobil's sale of local offshore shallow water assets to Seplat, his spokesman said on Thursday, after the oil regulator refused to give its consent.Buhari on Monday consented to the $1…
Dutch maritime services firm EMAR Offshore Services has bought two Damen Fast Crew Suppliers (FCS) 2206 for an undisclosed fee.The first vessel, named E-Six, has already begun operations in Angola, supporting the local oil and gas industry, and will be joined by the E-Seven shortly…
Oil and gas company Afentra plc, led by former Tullow CEO Paul McDade, has agreed to buy interests in two shallow-water offshore blocks in Angola from the Croatian oil company INA - Industrija Nafte.To remind, Afentra in April agreed to buy a 20% non-operated interest in Block 3/05…
UK-based offshore well plugging & abandonment company Well-Safe Solutions said Thursday it had secured a contract to plug and abandon (P&A) 14 wells on the UK continental shelf. The work is expected to secure 60 new offshore positions.The deal…
Norwegian oil and gas company Equinor has restarted oil production from the Peregrino offshore field after it was suspended in April 2020.The field was brought back online on June 16, 2022. Production was shut down in April 2020 and Equinor has since thenexecuted a major program of maintenance…
A pool of banks will have to buy shares worth almost 600 million euros in Saipem SPMI.MI after a cash call by the Italian energy services firm fell short of the 2 billion euro target it was seeking from investors to shore-up its finances.Saipem on…
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