Offshore Europe News

 

Equinor Posts Strongest Quarterly Result in Nine Years

17 hours ago

Norway's Equinor posted its strongest quarterly result in nine years on Wednesday, driven by a global energy supply crunch that pushed Europe's natural gas prices to record highs and sent the value of derivative contracts soaring.The company said it would sharply increase the size of its share buybacks in coming months, while maintaining a quarterly dividend level of $0.18 per share.Adjusted earnings before tax rose to $9…

ASCO to Provide Logistics Services for Horisont Energi's Barents Blue Project

14 hours ago

Horisont Energi, a Norwegian company developing a blue ammonia project in Norway that involves offshore carbon storage, has signed a four-year framework deal with logistics and supply company ASCO Norge, with an option to extend it.Horisont…

Nord Stream 2 is Not a Threat to Gas Supply to EU - German ministry

14 hours ago

Allowing Nord Stream 2 to pump Russian gas to Germany will not threaten supplies to the European Union, the German Economy Ministry said on Tuesday, clearing a major hurdle for the disputed pipeline.While the pipeline is ready to start operations…

Floating Wind Farm of Up to 1.3 GW Proposed Off Lecce, Italy

15 hours ago

Renewable energy firms Falck Renewables and BlueFloat Energy said Tuesday there were about to file, on behalf of the company Odra Energia, the documentation required to start the authorization process for a floating offshore wind farm off the southern coast of the province of Lecce…

Vår Energi's Shareholders Launch Strategic Review

16 hours ago

Eni and Point Resources plan to launch a strategic review regarding the future ownership structure of the Norwegian offshore oil and gas company Vår Energi.Italian oil giant Eni a owns 69.85% stake in Vår Energi, and HitecVision-backed Point Resources owns the remaining 30…

Neptune Energy Drills Duster at Tail Prospect Offshore Norway

16 hours ago

Oil and gas company Neptune Energy Norge AS has concluded the drilling of the exploration well 33/6-5 S (Tail prospect) in the North Sea, off Norway. According to the Norwegian Petroleum Directorate, the well is dry.Neptune drilled the wildcat well using the Deepsea Yantai drilling rig…

Iberdrola's Net Profit Falls 10% on High Energy Costs, Taxes

17 hours ago

Global wind power leader Iberdrola reported a 10% fall in net profit on Wednesday but beat market expectations for a turbulent nine months on energy markets which saw its home government in Spain swoop on utilities' earnings.Power and gas prices…

DEME Offshore Installs Final Foundation for Ørsted’s Giant Offshore Wind Farm in UK

Oct 26, 2021

Belgian offshore installation company DEME Offshore has installed the final and 165th monopile foundation at Ørsted’s Hornsea Two wind farm,  in the UK. The wind farm will be the largest offshore wind farm in the world once operational in 2022…

Vard Electro Batteries for Siem Offshore's Subsea Construction Vessel

Oct 26, 2021

Vard Electro will deliver its largest battery package to date as part of a vessel retrofit deal with the Norwegian offshore vessel owner Siem Offshore.The contract covers Vard Electro’s SeaQ Energy Storage System (ESS) with two battery packs and a DC link…

Offshore Plug and Abandonment Alliance Launched in Norway

Oct 26, 2021

Offshore drilling contractor Odfjell Drilling has said that its business divisions Odfjell Energy and Odfjell Well Services have launched a plug and abandonment (“P&A”) and slot recovery alliance with leading companies within the energy industry…

Wintershall Dea Q3 Earnings More than Double on Higher Prices, Spending cuts

Oct 26, 2021

Oil and gas producer Wintershall Dea's most closely watched measure of earnings more than doubled in the third quarter, it said on Tuesday, benefiting from soaring oil and gas prices and spending cuts.The company, owned jointly by BASF and Russia's LetterOne…

Neptune Energy Starts Drilling Production Wells at Fenja Field. First Oil in 1H 2023

Oct 26, 2021

Oil and gas company Neptune Energy has started drilling the first of four production wells on the Fenja field in the Norwegian Sea.The wells are being drilled by the Deepsea Yantai semi-submersible rig, owned by CIMC, and operated by Odfjell Drilling…

Aberdeen Selects BP as Hydrogen Hub Partner

Oct 25, 2021

Aberdeen City Council on Monday announced BP as its preferred bidder for a commercial partnership for hydrogen hub development 'which will accelerate the city’s ambitions to become a world-class hydrogen hub.'Following a tender process that began in June…

Renewables: $2,3 Billion Blue Eden Project Proposed for Swansea Waterfront

Oct 25, 2021

A project worth £1.7 billion (around $2,3 billion) that includes a giant tidal energy lagoon and floating solar array has been proposed for Swansea's waterfront, in Wales, UK,  by DST Innovations and a number of business partners, with support from Swansea Council and Associated British Ports…

Dana Petroleum Books Island Drilling Offshore Rig for UKCS Well

Oct 25, 2021

Oil and gas company Dana Petroleum has awarded Island Drilling a one-well drilling contract for the offshore drilling rig Island Innovator.The contract for the 6th generation harsh environment drilling rig will start in April 2022.  Dana has…

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