In what has been described one of the largest transactions in German industrial history, RWE and E.ON on Wednesday completed a major asset swap they'd agreed on in 2018.The two companies in March 2018 agreed on a complex deal that would eventually lead to RWE taking over E…
The Covid-19 downturn will expedite peak oil demand, putting a lid on exploration efforts in remote offshore areas and as a result, reducing the world’s recoverable oil by around 282 billion barrels, Rystad Energy said in its annual global energy outlook released this week…
Oil and gas company Rockhopper, with a share in the Sea Lion project off the Falkland Islands, has announced a set of cost-cutting measures which include headcount reductions, and directors' salary reduction.The company said Tuesday that due…
UK-based oil and gas operator Premier Oil has said it has suspended the Sea Lion-1 oil project offshore the Falkland Islands.The company said the $1.8 billion offshore oil project would be suspended to minimize ongoing spend in light of the current market conditions…
Rockhopper Exploration, a partner in Premier Oil-operated Sea Lion offshore oil project in the Falkland Islands, is confident it will manage to farm-out a share in the project despite the low oil prices and COVID-10 uncertainty.The two companies…
Norwegian offshore vessel operator Solstad Offshore has terminated bareboat charter deals for two platform supply vessels with vessel-owners SFL.Solstad said Monday the bareboat charters were terminated for the two PSV's Sea Halibut and Sea Pike…
As New Year 2020 unfolds, there are 21 floating production, storage and offloading units (FPSO) on order, and unlike a year ago, these — and not floating liquefied natural gas (FLNG) — are the unheralded story. Driven by a decent price for oil…
Solstad Offshore has terminated three AHTS bareboat charter agreements with SFL Corporation.Solstad said that the three medium-size vessels Sea Cheetah, Sea Jaguar, and Sea Leopard, would be handed back to SFL - ex-Ship Finance Internation - during the first quarter of 2020…
2020 will be a peak year for floating production, storage and offloading unit (FPSO) demand with up to 14 awards forecast in Wood Mackenzie’s base case scenario, half of which will be located offshore Latin America. Only two of these facilities are expected to be Petrobras units…
Premier Oil and Rockhopper, two oil companies working to develop the Sea Lion oil field offshore the Falkland Islands, have welcomed Navitas as their potential new partner in the project.The companies have signed non-binding heads of terms with Navitas Petroleum…
Subsea services firm N-Sea said increased sales in 2019 has led the Netherlands-based company to report a record year.The company said its commercial growth from bases in Aberdeen, the Netherlands and the Middle East has been spurred by the completion of more than 1…
When the offshore downturn hit, no operating region was spared. Southeast Asia, once the offshore poster child, found itself falling from grace, and hard. What followed was series of liquidations, bankruptcies, court protection and government intervention…
Dutch maritime contracting company Van Oord has installed the last jacket foundation for offshore wind farm East Anglia ONE (EA1) and delivered it to client ScottishPower Renewables.Van Oord was in charge of the transportation and installation…
Britain's Premier Oil on Wednesday reduced its forecast for its 2019 operating costs to $12 per barrel of oil equivalent (boe) from $13 and expects debt reduction to reach the upper end of its $250-$350 million target by year-end.Premier, which had debt of around $2…
It might be peak IPO season (Forbes), and technology investors may be looking elsewhere (say fintech), but two years of venture capital investments in the North Sea are rounding on stranded North Sea value.The old investor pattern of looking…
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