Norwegian oil company Aker BP posted a smaller-than-expected increase in fourth-quarter earnings due to higher production costs and lower oil prices, but raised its dividend.The company said on Wednesday earnings before interest and taxes rose…
Repsol has reached an agreement with Total to acquire its 7.65% stake in the producing Mikkel field, in the eastern part of the Norwegian Sea.The Mikkel field is a gas and condensate reservoir located 35 kilometers south of the Midgard deposit on Equinor’s Åsgard field in the Norwegian Sea…
Amid mixed reports on the health of the offshore supply chain, the underreported seismic services segment — a bellwether of eventual market growth or decline — is showing signs that another wave of market recovery is just a year away.Oslo-based…
The Liberty pipe mills at Hartlepool has been awarded a multimillion-dollar contract to supply steel pipeline for North Sea gas.The mills, which were acquired and relaunched by Liberty, part of Sanjeev Gupta’s GFG Alliance, in late 2017, have…
Romanian-based Black Sea Oil & Gas received a construction permit from the country's energy ministry on Friday for an offshore gas project, but it said new taxes could make it hard to go ahead with the development.The company, controlled by private equity firm Carlyle Group LP…
Aker BP has discovered an oil and gas reservoir while drilling near its Alvheim field in the North Sea, the Norwegian firm said on Monday.Known as Froskelaar (Frog's Leg) Main, the reservoir is estimated to hold between 45 million and 153 million barrels of oil equivalents…
Offshore installation contractor Jan De Nul Group has selected the Tekmar cable protection system (CPS) TekLink Mechanical Latch for the Northwester 2 offshore wind farm 50 km off the coast of Ostend, Belgium in the North Sea.Tekmar said it…
Lundin Petroleum raised its output guidance on Wednesday and said it would drill a record number of exploration wells in 2019.The company now expects output of over 150,000 barrels of oil equivalents per day (boepd) in 2020 from a previous forecast of more than 130…
Danish offshore wind developer Orsted reported full-year profit above expectations on Wednesday and said it would consider restarting its activities in Taiwan following a new proposal from the local government.Orsted earlier this month put two…
The Norwegian Petroleum Directorate (NPD) has granted Lundin Norway AS a drilling permit for a wildcat well in the North Sea.The NPD said on Tuesday that the wildcat well, designated 16/1-31 S, would be drilled from the Leiv Eiriksson drilling…
CNOOC announced Tuesday it has made a significant discovery on the Glengorm prospect, located in the Central North Sea of the U.K. continental shelf (UKCS), with recoverable resources estimated at close to 250 million barrels of oil equivalent…
Equinor’s application to prolong the technical lifetime for the Åsgard A facility in the Norwegian Sea has been approved by the Norwegian Petroleum Directorate, extending production up to 12 years longer than was originally planned.The Åsgard A floating production…
An area of rich oilfields in the southern North Sea off Norway appears set to become the next large-scale development to awe and shock observers for being a possible “fast-track” project in a mature area thought to have seen its best days.Norwegian offshore operator…
Icebergs on a collision course with petroleum facilities represent a serious hazard, according to a new study commissioned by the Petroleum Safety Authority Norway.The study performed by ArcIso assessed the consequences of potential collisions…
Faroe Petroleum announced Monday that it new directors have been appointed to lead the company after much of its executive team resigned following a hostile takeover by DNO.Faroe said Bjørn Dale has been appointed as Chairman and Ørjan Gjerde…
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