An integrated contract model combining the supply of subsea production systems (SPS) with the design and installation of subsea umbilical, risers and flowlines (SURF) has emerged as a top project-getter for services company TechnipFMC.The London-headquartered company, with operational headquarters in Houston and Paris, officially began operating under the TechnipFMC name in January 2017 following the merger of SURF company Technip and SPS supplier FMC Technologies…
Germany signed a memorandum of understanding (MoU) on Tuesday with the country's top gas importers to safeguard the supply of two floating liquefied natural (LNG) gas terminals it needs to reduce reliance on Russian energy.Under the MoU with Uniper and EnBW's VNG…
Private-equity backed oil and gas firm Neptune Energy plans to be ready for an initial public offering by April next year, Chief Financial Officer Armand Lumens said on Thursday.Neptune, backed by the Carlyle Group and CVC Capital partners and headed by former Centrica boss Sam Laidlaw…
Private equity-backed Neptune Energy expects output to slip to 155,000 barrels of oil equivalent per day (boed) this year, it said on Wednesday, as it reported operating cashflow of $362.3 million for the first quarter.It produced 162,000 boed…
Norwegian exploration and production company DNO says it plans to drill 48 wells this year, the highest number in the company's 48-year history. The drilling program, comprising 25 development/infill wells and 11 exploration/appraisal wells…
Neptune Energy announced Monday it has completed the integration with the former VNG Norge business. The integrated business, Neptune Energy Norge, will be among the top five independent producers on the Norwegian Continental Shelf by equity…
Shares in Faroe Petroleum skyrocket 25 percent, as DNO’s takeover bid targets company that engineered low breakeven price.Oil prices might have fallen 30 percent since September’s highs, but there’s still great business to be had for Norway-based North Sea asset player DNO…
Norwegian Energy Company (Noreco) plans to acquire offshore assets on Britain's continental shelf in 2019, following its purchase of Shell's upstream oil and gas licenses in Denmark, its chairman told Reuters on Thursday.The Oslo-listed company on Wednesday announced a $1…
U.S. oil firm Chevron will become the first oil major to formally exit the Norwegian continental shelf (NCS) as it transfers its last stake in an exploration license, according to a government letter.Oil majors, including Exxon Mobil, BP and Shell…
Oil and gas exploration company Neptune Energy Group announced that it has completed the acquisition of the Norwegian and Danish offshore oil and gas assets of German gas utility VNG Norge AS.The transaction adds three producing fields, two…
Norway has awarded 12 oil and gas exploration licences to Equinor and 10 other companies focused mostly on the Arctic, where Oslo believes it has the greatest potential for significant new discoveries.Nine of the licences are located in the…
The highest number of licenses ever have been awarded in Norway's latest licensing round, with 75 licenses awarded to 19 operators, led by Norwegian major Statoil. The Norwegian Ministry of Petroleum and Energy says 34 oil companies…
A new report by analyst firm Rystad shows that Norway is leading the comeback after a sanctioning drought in the offshore industry in 2015 and 2016. Johan Castberg. Illustration from Statoil. Recent…
VNG Norge has made a contract award to TechnipFMC for integrated engineering, procurement, construction and installation (iEPCI) on the Fenja field in the Norwegian Sea offshore Norway. The contract covers the provision of subsea equipment including umbilicals…
VNG Norge today (19 December) submitted the US$1.2 billion (NOK 10.2 billion) plan for development and operation (PDO) for the Fenja field in the Norwegian Sea. The company previously estimated its development plan for Fenja to cost $1.3 billion (NOK11…
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