Oilfield services company Archer Limited has acquired Aberdeenshire-based firm Romar-Abrado, which offers services to the plugging and abandonment market. The acquisition is based on an enterprise value of USD 8 million, plus an earn-out pending trading performance over 2023 to 2025…
Germany's EEW SPC has completed the construction of 50 monopiles for Iberdrola's second wind farm project in the German Baltic Sea, the Baltic Eagle.'In December 2022, as scheduled, the last monopile for the Baltic Eagle offshore wind project…
Russia has restored oil output at its Sakhalin-1 project after struggling with production following the exit of its previous operator Exxon Mobil Corp due to sanctions, an industry source said.Oil output from Russia's Sakhalin-1 project has recovered to 140…
Industrial services provider Bilfinger UK said Monday it had teamed up with Sulzer to help wind farm operators and developers cut their operations and maintenance (O&M) costs.According to Bilfinger, the partnership will see Bilfinger UK provide…
Hitachi Energy said Monday it had secured two major orders from Equinor and Polenergia to provide an AC grid connection and power quality solution for their jointly owned MFW Baltyk II and MFW Baltyk III offshore wind projects in Poland.The wind farms…
Norway's oil output is expected to rise by 6.9% this year as the huge Johan Sverdrup field ramps up production while gas volumes are predicted to remain unchanged near record highs, the Norwegian Petroleum Directorate (NPD) said on Monday. Production…
The drivers for global offshore wind growth look good for 2023. Global offshore wind is forecast to grow from over 60 GW at the end of 2022 to 240 GW by 2030 and over 410 GW by 2035. But the sunny outlook must be balanced with some building dark clouds…
Venezuela's oil exports last year declined due to infrastructure outages, U.S. sanctions and rising competition in its key Asia market despite assistance from ally Iran, according to shipping data and documents.Exports this year are expected…
Britain’s wind farms contributed a record 26.8% of the country’s electricity in 2022 although gas-fired power plants remained the biggest source of power, National Grid data showed on Friday.Britain has a target to reach net zero emissions by…
January brings with it the expectation that the United States' first commercial wind farm in federal waters will start generating power by year end, the promise that permitting for close to 5 gigawatts (GW) of projects will be finalized within…
Norway plans to export around 122 billion cubic metres (bcm) of natural gas in 2023, in line with last year’s level, and to maintain this volume for the next four or five years, Minister of Petroleum and Energy Terje Aasland said on Thursday…
Hydraulic tool maker Allspeeds said Thursday it had supplied a Webtool HCV330 hydraulic cutter to subsea equipment rental firm Ashtead Technology.According to the company, this is the largest Webtool cutter manufactured so far, and is designed…
China and the Philippines have agreed to set up a direct communications channel between their foreign ministries on the South China Sea to handle disputes peacefully, they said on Thursday.Their agreement, which contained 14 elements aimed at…
Serica Energy will look to expand beyond the British North Sea following the acquisition of smaller rival Tailwind in order to diversify its revenue sources, its chief executive said.Serica last month announced it had agreed to buy privately…
Ocean Infinity's Armada 7801 has reached Norway after a long journey from Vietnam, where its hull was built last year at the Vard Vung Tau shipyard.'Our first new ship has arrived in Norway, having set sail on its maiden voyage from Vietnam in November…
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