Oil and gas project sanctioning in 2020 could drop almost 70% compared to 2019 if the oil prices remain in the $30 a barrel area, Norway-based Rystad Energy said in an analysis on Monday.'The effect of the COVID-19 virus on global demand for oil and gas…
Offshore accommodation rig contractor Prosafe has lost a contract it had won for its Safe Zephyrus offshore accommodation unit with EnQuest earlier this month.As previously reported, Prosafe on March 16 said it had secured a contract to support…
Kvaerner, a Norwegian offshore engineering and construction company, has said its executive management will cut its salaries. The company has also placed 30 employees on temporary leave, with this number set to increase.This is a part of the…
Gazprom Neft, the oil arm of Russian gas giant Gazprom, plans to raise oil production at its Arctic projects this year, the company said on Tuesday.It said its oil production at the Novy Port project will rise to 8 million tonnes (160,000 barrels per day) in 2020 from 7…
Norway’s Kleven Verft has signed the final contract to complete, equip, and deliver a platform supply vessel, in cooperation with Havyard, to Canada’s Atlantic Towing.To remind, Norway’s Havyard in February decided to outsource the construction…
Oil company Wintershall Dea has awarded Norwegian engineering firm Head Energy a contract for two well hook-ups at the Brage Platform.'This is a strategically important contract for us and a recognition of our skilled engineering team working with EPCIC offshore modification projects…
Canada's Husky Energy has decided to suspend construction activities on its West White Rose offshore project, citing the COVID-19 virus fears.The oil company sanctioned the West White Rose development in May 2017. The field is being developed…
Proteus, a digital platform that promises to try and revolutionize the way in which the upstream oil and gas industry resources projects has secured £1.8m of private investment.Developed by the start-up technology firm, Xergy, Proteus is a cloud…
With the oil price crash and COVID-19, the near-term outlook for the offshore rig market is on a lot of minds. RigLogix has contacted a number of rig owners and operators and the consensus seems to be that it’s going to get worse before it gets better…
Talos Energy, a U.S. oil company focused on the U.S. and the Mexican side of the Gulf of Mexico, has announced further cost cuts, inclusive of $170.0 million of reductions in capital, operating and G&A expenses. The company said Monday it would…
Fred. Olsen Windcarrier’s jack-up vessel Brave Tern has been awarded a contract to transport and install wind turbines selected for the Changfang and Xidao offshore wind farms (CFXD) in Taiwan.The contract for the transportation and installation of MHI Vestas Offshore V174-9…
ASCO, a UK-based materials and logistics firm providing services to the oil and gas industry, has acquired full ownership over NORM Solutions.Norm Solutions is a provider of specialist cleaning, treatment and disposal services for oilfield equipment…
Norwegian offshore vessel operator Eidesvik Offshore will see its platform supply vessel Viking Princess return from a contract earlier than expected.The company said Sunday that it had received 'notice of early redelivery' from the charterer Ithaca Oil and Gas…
French energy group Total announced plans on Monday to step up cost cuts and suspend its share buyback programme in order to deal with a slump in oil prices and the economic fallout from the coronavirus outbreak.Total CEO Patrick Pouyanne said that with prices of $30 per barrel…
Sleipnir, the world's largest semi-submersible crane vessel, has arrived in the Port of Rotterdam for the first time since its delivery from Singapore last year.Heerema Marine Contractors, the Netherlands-based offshore installation company…