Offshore Activity - page 973

 

ConocoPhillips to Use Rowan Norway Jack-Up for Ekofisk P&A

May 25, 2020

Oil company ConocoPhillips has been given permission to use the Rowan Norway jack-up unit at its Ekofisk field in the Norwegian sector of the North Sea.The consent was granted by the Petroleum Safety Authority Norway and relates to the plugging…

Low Oil Prices Could Spur Offshore Decommissioning Wave

May 25, 2020

The total value of the global pool of offshore oil and gas decommissioning projects that will accumulate through 2024 could reach $42 billion, with the North Sea region taking up the biggest chunk, most notably the UK part, energy intelligence company Rystad Energy said in a report…

Fugro Gets $17.3M from Huawei Marine Networks Deal

May 25, 2020

Dutch offshore services provider Fugro has said it has received $17.3 million from the sale by Global Marine Group of a 30% stake in Huawei Marine Networks (HMN) to Hengtong Optic-Electric Co Ltd.  The proceeds are in addition to EUR 34.0 million…

Prysmian Targets Half of Sales from Low-Carbon Products by 2022

May 25, 2020

Prysmian, the world's largest cable maker, pledged on Friday to raise the share of revenues from low carbon products to 50% by 2022 as part of plans to cut its carbon footprint.The Italian company, which supplies cables for industries ranging…

Gas Output to Resume at Israel's Leviathan After Brief Halt

May 25, 2020

Production at Israel's offshore Leviathan natural gas field will resume in the coming hours after an emergency shutdown on Saturday, the project's operator Noble Energy said [on Saturday].The platform's flare system had been activated to burn off excess gas…

Malaysia: Tanjong Baram Field Contract Terminated

May 22, 2020

Malaysia's Uzma Energy Ventures has said that the Tanjong Baram small field risk service contract between Petronas and Uzma & EnQuest joint venture has been terminated.The contract's objective was to develop and produce petroleum from the Tanjong Baram field…

Trafigura Takes a Bet with North Sea Oil

May 22, 2020

Commodities trader Trafigura has seized the moment and taken a rare dominant position in the North Sea crude market over the past two weeks as oil demand jumped, trading sources said.A combination of OPEC-led global production cuts, cheap freight rates…

Petronas Braces for Severe 2020 Hit. 1Q Profit Down 68%

May 22, 2020

Malaysian state oil firm Petronas posted a 68% slump in first-quarter profit on Friday and said it would cut capital expenditure and operating expenses as it braces for a big hit to its full-year performance due to the coronavirus pandemic.Petronas…

UK Court Throws Out Nigerian Offshore Block Graft Case Against Shell, Eni

May 22, 2020

An English court threw out a $1.1 billion case Nigeria had brought against Royal Dutch Shell and Eni related to a dispute over the OPL 245 oilfield, a court document showed on Friday, while a related trial in Italy continues.The Nigerian government…

Esvagt CEO: No Job Cuts and Furloughs

May 22, 2020

At these difficult times when companies involved in the offshore industry are cutting jobs across the board as one of the ways to preserve cash, there's one offshore vessel operator that, while indeed cutting salaries, is keeping the jobs in place…

innogy Applauds Ireland's Offshore Wind Push

May 22, 2020

innogy Renewables Ireland, the joint developer of Dublin Array Offshore Wind Farm, has this week welcomed the announcement by Ireland's Minister of State, Damien English TD, of a clear road map for the development of offshore wind energy in Ireland…

South Korea's DSME Wins $330M FSRU Order

May 22, 2020

South Korean shipbuilder Daewoo Shipbuilding Marine and Engineering (DSME) has received an order for a large liquefied natural gas (LNG) floating storage regasification unit (FSRU).In a statement on the Korea Exchange, DSME said the contract was worth around 411 billion South Korean Won…

Rosneft Re-appoints Sechin as CEO

May 22, 2020

Russian energy giant Rosneft on Friday re-appointed Chief Executive Igor Sechin, an ally of President Vladimir Putin, for another five years.Sechin, who turns 60 in September, turned the company into one of the world's top oil players and earned the accolade of oil tsar…

Nauti-Craft, ST Engineering Working on Offshore Wind CTV

May 22, 2020

Australia's Nauti-Craft and Singapore's ST Engineering Marine Ltd, the marine arm of Singapore headquarters ST Engineering, have signed a letter of intent to explore options of collaborating on crew transfer vessels (CTV) for the offshore wind industry…

Hurricane Energy Shuts Lancaster Well. Suspends Output Guidance

May 22, 2020

Hurricane Energy has shut down an offshore well at its Lancaster field in the UK as its testing to produce oil simultaneously from two wells with the aim to reach 20,000 bopd proved unsuccessful. As a result, Hurricane has backtracked on its 2020 output guidance of net 17…

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