COVID-19 will continue to skew the floating production systems market for the coming 24 months, while buying power for a large portion of FPSO contracts will be centered in Brazil and Guyana/Suriname. These two areas are expected to account…
SBM Offshore forecast that 2021 core earnings will be slightly below market expectations, the multinational oil firm said on Thursday, noting 2020 challenges will spill into 2021 as many of its clients had to cut budgets.The Dutch company, which supplies floating oil and gas production vessels…
The global financial investment for offshore wind capacity set records in 2020, with total capacity investment as well as cash amount earmarked surpassing that of 2018, the previous record year, according to The Renewables Consulting Group (RCG)…
Oil prices climbed on Friday to their highest levels in a year, extending a run of strong gains on signs of economic growth in the United States and a continued commitment by producers to hold back crude supply.Brent crude futures climbed 28 cents…
Norwegian oil firm Equinor has made an oil and gas discovery near the Troll field in the North Sea, offshore Norway.Equinor said Friday that the recoverable resources are estimated at between 7 and 11 million standard cubic meters of oil equivalent…
Italian engineering and construction services firm Saipem has won a contract worth 460 million euros (around $556 million) to build and install foundations at a wind farm offshore France.The contract, awarded by Eoliennes Offshore du Calvados…
Oil and gas company Neptune Energy has tapped offshore helicopter operator NHV Group to provide crew transportation services in support of an oilfield development project in the UK North Sea.NHV said Monday the contract was for 18 months, and…
Dutch heavy lift and transportation company Mammoet is opening a new office in Taichung, Taiwan, to allow its team to be located closer to project sites and to offer onshore services for offshore wind farms locally.'Due to the rapid expansion…
Neptune Energy has started drilling on the Seagull oil and gas development in the UK Central North Sea, the company said Thursday.Neptune is using the Gorilla VI (JU-248) jack-up rig, operated by Valaris. The company will drill four wells for…
Just hours after announcing three contracts for its platform suppliers in the North Sea and Suriname, Norwegian offshore vessel operator Solstad Offshore released a separate statement on Thursday, announcing charters for three construction vessels…
Organizers of Subsea Expo, dubbed the world’s largest underwater engineering event, said Tuesday that the event will not be taking place this year, citing lockdown restrictions, rising infection cases, and new variants of the coronavirus in the UK…
Ocean Infinity, a U.S. based marine survey firm developing the world's largest fleet of unmanned surface vessels - Armada - has ordered Sonardyne sensors for its robotic vessels.As reported previously, Ocean Infinity in February launched Armada…
President Joe Biden was set on Wednesday to sign executive actions to combat climate change, including pausing new oil and gas leases on federal land and cutting fossil fuel subsidies as he pursues green policies in stark contrast to those of his predecessor Donald Trump…
Håkan Agnevall will take over the position of CEO of the Finnish marine equipment maker Wärtsilä on February 1, 2021.Back in September 2020, Wärtsilä first announced that Agnevall, president of Volvo's bus division, would become its new CEO…
Schlumberger on Friday joined rivals in predicting a steady recovery in the oil industry this year after the world's top oilfield services provider's fourth-quarter results beat estimates, aided partly by growing drilling demand.Easing of COVID…
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