North Sea oil and gas company Ithaca Energy reported a nearly 34% fall in net profit for the first half of the year on Thursday, hurt by lower production, a decline in natural gas prices and impairment charges.Shares of Ithaca, fell about 2…
Engineers at MIT have developed a comprehensive, physics-based model that accurately represents the airflow around rotors even under extreme conditions, such as when the blades are operating at high forces and speeds, or are angled in certain directions…
Izomax scored a milestone frame agreement with Shell, a deal that will enable Shell to leverage Izomax's patented AOGV technology to reinvent plant maintenance procedures.The three-year frame agreement allows Shell to fulfill ambitions for…
Offshore drilling contractor Northern Ocean announced it has appointed Arne Jacobsen as its new chief executive officer.Jacobsen was previously the CEO of Orion, a joint venture between Hayfin Capital and Transocean, and has experience as a…
According to the Norwegian Offshore Directorate's projected scenarios leading up to 2050, the difference between high and low production of oil and gas can amount to nearly an entire government pension fund.Norway still has extensive oil and gas resources on the Norwegian continental shelf (NCS)…
Norway's Vaar Energi has again postponed the startup of its North Sea Balder X oil and gas project, planning to begin output in the second quarter of 2025 rather than by the end of this year, the company said on Wednesday.Plagued by cost overruns and delays…
Aize announced an expansion of the strategic collaboration with Aker BP to include a Software-as-a-service (SaaS) agreement for all relevant facilities.Aize and Aker BP have focused their combined development efforts on two areas: Develop…
An offshore natural gas pipeline that exploded near Venice, La., on Saturday night, killing one person, was owned by Whitney Oil and Gas, the U.S. Coast Guard said. The company was not immediately available for comment.'The explosion resulted…
TGS won an Ocean Bottom Node (OBN) data acquisition contract in North America. This four-month extension to an existing contract will build on existing operations, reinforcing TGS' position in the market and underscoring the commitment to delivering high-quality seismic data solutions…
Strategic initiatives are attracting investors and petroleum contractors to Asia Pacific’s offshore energy market, propelling the region towards enhanced security and economic growth. As countries tap into their local resources to meet rising demand…
DeepOcean won a contract extension with Diavaz for the vessel, Arbol Grande. The vessel will work on Inspection Maintenance and Repair (IMR) services in Mexico for the next five years.Arbol Grande is a construction and subsea vessel, delivered…
Mitsui O.S.K. Lines, Ltd. completed the purchase on the market of 89,500 shares of common stock of MODEC, Inc. and along with the 10,162,300 shares already acquired in June 2023, MOL now holds a 15% stake in MODEC and will make it an equity-method affiliate…
The Norwegian Offshore Directorate has granted Equinor Energy AS drilling permit for wellbore 6608/10-R-2 H in production licence 1013, cf. Section 13 of the Resource Management Regulations.General informationWellbore name6608/10-R-2 HTypeEXPLORATIONPurposeWILDCATProduction…
Norway's Equinor has begun work to resume output at its Gullfaks C oil and gas platform in the North Sea after a shutdown on Sunday, a company spokesperson said on Tuesday. The incident was caused by problems with one of the platform's wells…
An arbitration panel that will decide a high-profile clash between Exxon Mobil and Chevron will delve into the secret value of Hess' oil riches in Guyana, people familiar with the matter said.Chevron last October offered to pay $53 billion for Hess…