Aker Energy, as the operator of the Deepwater Tano Cape Three Points (DWT/CTP) block, announced Monday that it encountered oil in the Pecan South-1A well south of the main Pecan field offshore Ghana.Aker Energy said it is in the process of analyzing…
Sparrows Group Cable and Pipe Lay Solutions (CPLS) division has delivered its largest renewables project to date as part of three contracts awarded through VBMS; DEME Offshore, formerly known as Tideway; and DeepOcean. The work scope, part of…
As exploration and production (E&P) activity in the offshore oil and gas industry gradually accelerates, the global subsea sector is set to face supply chain challenges, predicts controls technology company Proserv.Industry consultants have…
UK-based water company Northumbrian Water has signed what is believed to be the UK’s first corporate power purchase (PPA) agreement with Danish renewable energy specialist Ørsted for offshore wind.The 10-year deal is an expansion of a renewable electricity supply agreement between the companies…
The EU Marinet2 project has awarded 36 offshore renewable energy developers total funds of EUR 1.2 million for testing technology under its latest funding call.Thedevelopers will benefit from the free lab, tank and open-sea testing, courtesy of the MaRINET2 project…
Oil giant ExxonMobil, together with partner Qatar Petroleum (QP), made giant gas discovery to the east Mediterranean region after finding a gas-bearing reservoir offshore Cyprus and estimated in-place gas resources in the reservoir at 5 to 8 trillion cubic feet (tcf) of gas…
U.S. energy firms this week cut the number of oil rigs operating to the lowest in almost nine months as some producers follow through on plans to cut spending despite an over 20-percent increase crude futures so far this year.Drillers cut 10 oil rigs in the week to March 1…
UK-based Maritime Developments Ltd (MDL), which designs, manufactures, and delivers machines to energy sector, said that it has secured a flexible installation project offshore Ghana.The work scope covers an installation of a flowline using MDL Third-generation Reel Drive System…
The United States needs to be cautious about pending legislation that would allow the Justice Department to sue OPEC and other oil producers over supply cuts because it could result in higher prices in the long term, U.S. Energy Secretary Rick Perry said on Thursday…
An innovative tidal energy platform has generated first power from the tidal currents of Grand Passage in Digby County, Nova Scotia.Following a period of commissioning and testing environmental monitoring equipment, Sustainable Marine Energy…
Brazilian state-run oil firm Petroleo Brasileiro SA reported its first annual profit in five years on Wednesday as it swung to a net profit in the fourth quarter, although one-time provisions and writedowns led it to miss estimates.In a securities filing…
U.S. oil and gas major Exxon Mobil Corp said on Thursday it had found natural gas offshore Cyprus, a region already known for some of the world's largest such discoveries.The east Mediterranean island is located in the Levant basin, where both…
Italy's Eni has teamed up with private equity firm HitecVision to bid against Chrysaor for ConocoPhillips' North Sea oil and gas assets, sources close to the process said.Conoco relaunched the sale process in recent weeks after energy and chemicals firm Ineos…
Offshore operator Naviera Tramarsa has extended its subsea vehicle fleet with a new Cougar XT remotely operated underwater vehicle (ROV) from manufacturer Saab Seaeye.The 2,000m rated Cougar XT will enter operations in May 2019, joining the company’s Saab Seaeye Falcon ROV…
Subsea 7 posted higher-than-expected fourth-quarter profits on Thursday and announced a special dividend payment as well as an extension of its share buybacks.The Oslo-listed offshore services provider's adjusted earnings before interest, tax…
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