Lime Petroleum, a subsidiary of Rex International Holding, has agreed to buy a 10 percent stake in the Yme oil field in the North Sea, offshore Norway, from Kuwait’s KUFPEC. Rex said Lime would pay post-tax fee $68.053 million (about NOK 633 million)…
By Akif Chaudhry, Principal Analyst, Corporate Research, Wood MackenzieNo longer in its infancy, offshore wind is a proven technology on course to play a key role in the decarbonisation of the global economy. Over the next decade, the industry will attract almost US$1 trillion in new investment…
Equinor's Johan Castberg floating production, storage, and offloading (FPSO) vessel suffered only minor damage during a fire on Wednesday, and the project's timeline will not be affected, a company spokesperson said on Thursday.The vessel is under construction at a shipyard in western Norway…
Norwegian offshore vessel owner Eidesvik Offshore will manage the construction support vessel Viking Neptun it recently agreed to sell to DEME.The company has now signed a two-year ship management agreement with DEME under which Eidesvik will provide full technical management…
Seaway 7, a renewables subsidiary of Subsea 7, has ordered 66kV subsea array cables for the EnBW He Dreiht offshore wind farm in Germany from the subsea cable maker JDR.JDR will supply 100km of 66kV array cable that will connect the 64 wind turbines at the 900MW offshore wind farm…
Italian oilfield services firm Saipem said Thursday it had secured three new engineering and construction contracts - one onshore and two offshore - in Angola. The total value is around $900 million.The contracts are with the New Gas Consortium…
Shell has launched a sale process for its 30% stake in the Cambo oil prospect in the British North Sea, potentially paving the way for the field's controversial development, industry sources said on Thursday.The London-based company hired investment…
Offshore Design Engineering Ltd (ODE) has won a contract to deliver Owner’s Engineer support to the pre-FEED stage of the 1.5GW Outer Dowsing offshore wind farm in the Southern North Sea. The Owner’s Engineer contract was awarded to ODE by Outer Dowsing Offshore Wind (ODOW)…
Renewables firm Ørsted raised its full-year outlook on Thursday thanks to high power prices, after a disappointing showing in its offshore wind business led to weaker-than-expected second-quarter core earnings, which knocked its shares.Europe's power crunch…
Norwegian offshore engineering and construction company Aker Solutions, and offshore installation firm Subsea 7, have won 'sizeable' contracts from Aker BP to assist with the development of Trell & Trine offshore discoveries, located in the Alvheim area of the North Sea…
Crown Estate Scotland opened on Wednesday the registration window for an offshore wind leasing process that aims to lower emissions from Britain's North Sea oil and gas production.The public corporation's Innovation and Targeted Oil and Gas…
Norwegian oil and gas company Aker BP on Wednesday filed a plan for development and operation (PDO) for Trell & Trine offshore oil development project to the Norwegian Ministry of Petroleum and Energy (MPE). The Trell (production licence 102…
Major energy traders are taking hundreds of millions of dollars in losses as they scramble to plug a liquefied natural gas (LNG) supply gap after several outages hampered efforts to fill European storage ahead of the winter heating season.Unplanned disruptions at LNG plants in the United States…
Wind turbine maker Vestas expects to deliver more positive results next year, its chief executive said on Wednesday, as high costs from raw materials and transport, which hit second-quarter results, are passed on to customers.Shares in Vestas…
Offshore drilling company Diamond Offshore said Wednesday it had recently secured $610 million worth of offshore drilling contracts, with the company CEO confident of sustainable long-term demand for offshore drilling services 'for years to come…
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