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13 April 2020
UK’s underwater engineering industry responds to Covid-19
Industry body, Subsea UK, says that underwater engineering companies have the relevant products and manufacturing expertise, particularly in breathing apparatus and life support equipment, valves, and control systems, to answer the call for help from the UK and Scottish governments. Indeed, one of Subsea UK’s members, JFD Global, has already…
13 April 2020
Flint Subsea gain DNVGL approval for the Well Kill Connector
Flint Subsea, a global supplier of Emergency Quick Disconnect (EQD) systems have gained DNVGL approval of their latest system, which has been supplied to a well intervention specialist in the North Sea. Flint Subsea were approached in 2019 to provide an emergency disconnect solution for a supplier of well intervention…
13 April 2020
EDrill-2 at Kerisi Platform for MEDCO Energi
On Good Friday, EDrill-2 completed the heavy lifts for erecting the DES at the Kerisi platform in the Natunas Seas for her contract with Medco Energi. She mobilised from Singapore on 25th March 2020, for the 2+3 wells contract over 4 platforms which is estimated to last till the end…
13 April 2020
maxon Launches Subsea Pressure Compensated Actuators
maxon Aquatic Solutions, part of the global maxon Group, recently launched a range of pressure compensators for Remote Operated Vehicles (ROVs) and Autonomous Underwater Vehicles (AUVs). These are compensated to operate to depths to 6,000m and are highly efficient and reliable.'maxon has existing thruster products and saw an increase in…
13 April 2020
WFS signs new partnership to support growth
WFS Technologies (WFS), leaders in subsea wireless automation, has announced a new strategic oil & gas partnership which is set to support global growth for its patented Seatooth® products. AeonX Limited (Nigeria) has signed a partnership agreement with WFS to promote and deliver the full range of state-of-the-art Seatooth products…
13 April 2020
PGE Management Board closes projects outside its core business
The Management Board of PGE Polska Grupa Energetyczna decided to close projects with unsatisfactory rate of return, in particular those not directly related to the core business of the Group, and obliged all PGE Group companies to optimization and rationalization activities. The decision taken by the Management Board of PGE…
13 April 2020
Targeted Billion-Barrel Oil Resources At Risk As World's Top Exploration Wells For 2020 May Face Delays
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war, a Rystad Energy impact analysis shows. These wells, located in Norway,…
13 April 2020
SBM Offshore Company Update and 2020 Resolutions
Company Update SBM Offshore’s priority is the health and safety of its staff, contractors and their families, ensuring safe operations across the Company’s activities at the same time. A dedicated task force continues to monitor the situation at all Company locations across the globe, on a daily basis. The Company…
10 April 2020
Lukoil Comissions Komandirshorskaya Group Of Fields In Nenets District
LUKOIL started test production at three oil fields of the Komandirshorskaya Group – Komandirshorskoye, North Komandirshorskoye and West Komandirshorskoye – in the Nenets Autonomous District. The initial recoverable reserves of the three fields are estimated at 11 million tons. The production commenced at all the three geological structures of the…
10 April 2020
Altera Infrastructure L.P. announces Petrojarl Knarr contract extension
Altera Infrastructure L.P. (the “Partnership”) today announced that its subsidiary Teekay Knarr AS has entered into a contract amendment with AS Norske Shell, as operator for and on behalf of the Knarr field licence partners (the “Operator”), that extends the contract for the lease and operation of the Petrojarl Knarr…
10 April 2020
Marathon Oil Prioritizes Financial Strength with $1.3 Billion Capital Budget
In response to current market conditions, Marathon Oil (NYSE: MRO) has announced an updated 2020 capital spending budget and has also provided a hedging update. The revised capital budget of $1.3 billion or less represents a cumulative budget reduction of $1.1 billion from initial 2020 capital spending guidance. 2020 capital…
10 April 2020
Global Petroleum Limited (“Global” or “the Company”) Agreement with NAMCOR to Licence 3D Seismic Data
Global Petroleum Limited (AIM: GBP, ASX: GBP) is pleased to announce that it has come to an agreement to licence pre-existing 3D seismic data in its offshore Namibia Block, 2011A (PEL0094). This key data, acquired by previous licensees in 2010, covers the Company’s Welwitschia Deep prospect and Marula lead, and…
10 April 2020
KrisEnergy completes disposal of Andaman II PSC
KrisEnergy Ltd. (“KrisEnergy” or the “Company”, and together with its subsidiaries, the “Group”), an upstream oil and gas company, refers to the announcements made by the Company on 29 October 2019 and 19 November 2019, in relation to the entry into a conditional sale and purchase agreement with BP Exploration…
10 April 2020
SMD Supply Fourth System to Asso.subsea
Greece based Asso.subsea have taken delivery of an SMD Quasar 150hp 1000m rated work class remotely operated vehicle (ROV) complete with Launch and Recovery system (LARs).The work class ROV system complements their existing fleet, which includes two 100hp 3000m rated Atom ROV systems, originally delivered in 2012 and 2014 respectively…
10 April 2020
BW Offshore: Update on FPSO Umuroa
With reference to stock exchange releases dated 14 September 2019 and 31 October 2019 related to the termination notice from Tamarind Taranaki Limited (TTL) for the FPSO Umuroa operating on the Tui field offshore New Zealand. BW Offshore has as of 9 April 2020 not been able to disconnect the…
10 April 2020
Lime Petroleum AS in 20 per cent farm-in to two licences in Norwegian Sea
Rex International Holding Limited (“Rex International Holding”, “Rex” or the “Company”, and together with its subsidiaries, the “Group”), a technology-driven oil company, is pleased to announce that its 90 per cent subsidiary Lime Petroleum AS (“LPA”) has on 8 April 2020, signed an agreement with Equinor Energy AS (“Equinor”) to…
9 April 2020
EnQuest : 2019 Full Year Results
Results for the year ended 31 December 2019 and 2020 outlook. There was a 24% production growth; material debt reduction with net debt:EBITDA at 1.4x. Decisive action being taken to position EnQuest to manage in a sustained low oil price environment. Unless otherwise stated, all figures are on a Business performance…
9 April 2020
Offshore Drillers To See Contract Cancellations Of Up To $3 Billion Until 2021, Many Need Restructuring
The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling in particular is among the most affected industry segments. A Rystad Energy impact analysis estimates that drillers will see up to 10% of their contract volumes canceled in…
9 April 2020
Oceaneering secures seabed clearing contract for Scottish wind farm
Oceaneering International Services Ltd (OISL), a subsidiary of Oceaneering International, Inc. (Oceaneering), has been awarded a contract from Moray Offshore Windfarm (East) Limited (MOWEL) to complete seabed route and debris clearance for the Moray East Wind Farm project in the Moray Firth, Scotland. OISL will provide a full suite of…
9 April 2020
Island Victory chartered by Ocean Installer
Island Victory has secured more work in the Barents Sea this spring. Early April the vessel commenced a 60-90 days contract for Ocean Installer at Johan Castberg and Askeladd. Equinor is the end customer for both fields. “The vessel and its crew have already completed some heavy jobs in the…
9 April 2020
Oceanteam Solutions secures 2020/2021 contract for cable transportation solution
Oceanteam Solutions has entered into an agreement with a major cable manufacturer to provide cable transportation capability using a cable transportation and handling barge specially equipped for its tasks. The engagement will commence in April 2020 with completion in the first quarter of 2021 and optional extensions to take the…
9 April 2020
Kosmos Energy Successfully Completes Reserve Based Lending Facility Re-determination and Provides Operational Update
Kosmos Energy announced that it has successfully completed the re-determination of its reserve based lending credit facility (“RBL”). In addition, the company has identified a further $75 million in cost reductions across capital and operating expenditures and gives an update on the Greater Tortue Ahmeyim LNG project in Mauritania and…
9 April 2020
Petrobras has made a new oil discovery in the Campos Basin
Petrobras states that it has identified the presence of oil in a exploratory as well as the Southwest of Tartaruga Verde block, located in the Campos Basin. The well, informally called Natator, is located 130 km from the city of Macaé (RJ), in water depths of 1,080 meters, with the…
9 April 2020
Call-off award for removal and disposal of installations in the Valhall area
Allseas has been awarded a call-off for removal and disposal of multiple installations in the Valhall area in the North Sea in the period from 2021 to 2026. The work under the call-off comprises the removal and disposal of the Valhall DP- PCP- and Hod topsides and jackets. Further Aker…
9 April 2020
Hywind Tampen approved by Norwegian authorities
The Ministry of Petroleum and Industry has approved the plans for development and operation of the Hywind Tampen wind farm. The Snorre and Gullfaks platforms will be the first platforms in the world to receive power from a floating offshore wind farm. On 11 October 2019, Equinor and the Snorre…
9 April 2020
Reduced exploration activity; production is maintained for now
Exploration activity on the shelf has been reduced, and production will be maintained for the time being, in spite of the corona outbreak and the decline in oil price. At the same time, the companies have announced and initiated several measures that could have long-term consequences for production and overall…
8 April 2020
Ørsted completes Sage Draw Wind project
Ørsted has completed its Sage Draw Wind project, a 338MW wind farm that straddles Garza and Lynn Counties in Texas. The 120-wind turbine project will have the capacity to meet the annual electricity needs of 120,000 American homes. Sage Draw Wind brings Ørsted's onshore operational installed capacity to 1.3GW. Currently,…
8 April 2020
Offshore Wind Leasing Round 4 - Invitations to Tender are Open
Invitation to Tender (ITT) Stage 1 for Round 4 is now open. In light of the current COVID-19 situation, the submission period has been extended, to afford bidders additional time to respond. The UK has the largest operating offshore wind capacity in the world, a national success story to be…
8 April 2020
JFD unveils new ventilator system to support global battle against COVID-19
JFD, a world leader in breathing apparatus, life support equipment and hyperbaric medical equipment to support life-critical applications and part of James Fisher and Sons plc, today announced that it will bring to market a new patient ventilator system to support global health systems in combatting the COVID-19 pandemic. JFD…
8 April 2020
JFD unveils new ventilator system to support global battle against COVID-19
JFD, a world leader in breathing apparatus, life support equipment and hyperbaric medical equipment to support life-critical applications and part of James Fisher and Sons plc, today announced that it will bring to market a new patient ventilator system to support global health systems in combatting the COVID-19 pandemic. JFD…
8 April 2020
Petro-Victory Energy Corp Announces Oil Discovery at Vida Well 49m of net pay, oil recovered to surface
Petro-Victory Energy Corp. (TSX-V: VRY) (“Petro-Victory” or “Company”) is delighted to announce the discovery of oil at the 1-VID-1-ES (Vida) exploration well located in Block ES-T-487 Espírito Santo Basin, Brazil. This is the company’s first exploration well in Brazil. The Vida exploration well was drilled to a Total Depth of…
8 April 2020
Baron Oil Plc ("Baron" or "the Company") Inner Moray Firth Update on Licence Status
Baron Oil Plc (AIM:BOIL), the AIM-listed oil and gas exploration and production company, provides the following Inner Moray Firth ("IMF") update to shareholders. As announced on 20 September 2019, Baron and its joint venture partners were awarded exclusive licenses over seven blocks and part blocks in the IMF, part of…
8 April 2020
ExxonMobil reduces 2020 capex by 30%, cash opex by 15%; maintains long-term outlook
ExxonMobil said it is reducing its 2020 capital spending by 30 percent and lowering cash operating expenses by 15 percent in response to low commodity prices resulting from oversupply and demand weakness from the COVID-19 pandemic. Capital investments for 2020 are now expected to be about $23 billion, down from…
8 April 2020
FLNG Gimi Force Majeure claim
Gimi MS Corp. (the “Company”), a subsidiary of Golar LNG Ltd (Nasdaq: GLNG), received written notification of a force majeure claim (the “Notice”) from BP Mauritania Investments Ltd (“BP”) under the Lease and Operate Agreement, dated February 26, 2019, between the Company and BP (the “Agreement”), relating to the Greater…
8 April 2020
INEOS to postpone shutting down of Forties Pipeline System until Spring 2021
INEOS FPS has today responded to further requests from customers and delayed its planned shutdown of the Forties Pipeline System (which was originally planned for June 2020) The decision has been taken in the face of the ongoing Government restrictions due to the Coronavirus pandemic and in the interests of…
8 April 2020
Total Keeps The Pace Of Divestments With Asset Sales In Brunei, Sierra Leone and Liberia
In line with its strategy of actively managing its asset portfolio and its objective to divest 5 B$ on years 2019-2020, Total is pursuing the divestments of several non-core assets in both Exploration-Production (Brunei) and Marketing & Services (Sierra Leone and Liberia). These divestments represent a global value of more…
8 April 2020
Nova module ready for sail away to Neptune Energy’s Gjøa platform
Neptune Energy today announced the load out of the 740-tonne topside module for the Nova brownfield project in the Norwegian North Sea. The module was lifted onto a barge at the Rosenberg Worley yard in Stavanger and will be transferred to the world's largest crane vessel, Heerema’s Sleipnir, then installed…
7 April 2020
Fugro wins NOAA contract for shoreline mapping services
Fugro has signed a 5-year Indefinite Delivery Indefinite Quantity (IDIQ) contract with the US National Oceanic and Atmospheric Administration (NOAA) to provide shoreline mapping services in support of the agency’s Coastal Mapping Program. Issued through NOAA’s National Geodetic Survey (NGS), this multi-year contract is NGS’s second consecutive award to Fugro…
7 April 2020
Global Petroleum Limited (“Global” or “the Company”) Agreement with NAMCOR to Licence 3D Seismic Data
Global Petroleum Limited (AIM: GBP, ASX: GBP) is pleased to announce that it has come to an agreement to licence pre-existing 3D seismic data in its offshore Namibia Block, 2011A (PEL0094). This key data, acquired by previous licensees in 2010, covers the Company’s Welwitschia Deep prospect and Marula lead, and will…
7 April 2020
Premier Oil plc ("Premier" or the "Company") Charlie-1 well result
As announced by 88 Energy, Premier confirms that the Charlie-1 well in Area A (Premier 60 per cent interest) on the North Slope of Alaska has proved the presence of mobile hydrocarbons in the targeted Torok Formation. The hydrocarbons sampled were gas condensate which is more challenging to commercialise than…
7 April 2020
Ithaca Energy - Operations & Trading Update
Ithaca Energy Limited (IAECN: ISINs US46567TAA25 / USG49774AA35) ("Ithaca" or the "Company") has provided the following operations update together with the results of its year-end 2019 independent reserves evaluation. The planned issuance of the financial results for the twelve months ended 31 December 2019 has been delayed as a consequence…
7 April 2020
JDR Completes Cable Load-out For Changhua Offshore Wind Project
JDR Cable Systems (JDR), the leading supplier of subsea umbilicals and power cables to the offshore energy industry, owned by the TFKable Group, has completed the delivery of subsea power cables and accessories to Jan De Nul Group for the Taiwan Power Company Offshore Wind Farm Phase One (Changhua). JDR…
7 April 2020
Ramboll achieves major offshore wind contract in Japan
In Japan, growth on the offshore wind market is rapidly increasing, and with this new contract Ramboll will strengthen its position as market leader. Ramboll engineers will perform the detailed foundation design for a new offshore wind farm, which will be one of the largest in Japan. The Japanese market…
7 April 2020
Sleipnir Lifts Module From Haugesund Quayside
Heerema's Sleipnir, the world's largest semi-submersible crane vessel demonstrated at the weekend that despite its size, the vessel could navigate through even the tightest of spaces. Sleipnir entered the Karmsund Strait en route to Haugesund, Norway, to lift Equinor's Snorre A Module. The vessel lifted the module directly from the…
7 April 2020
TDI-Brooks Completes MSGBC Field Data Acquisition For TGS And Commences Another Offshore Nigeria
TDI-Brooks International, Inc (under contract to TGS), has completed the offshore “seep-hunting” surface geochemical analysis and geotechnical campaign of the MSGBC Basin, from Northern Senegal through The Gambia and AGC zone, into Guinea-Bissau down to the Guinea transform fault. TDI-Brooks’ R/V Gyre acquired 80,000 square kilometers of high resolution multibeam…
7 April 2020
Petrofac : Actions taken in response to Covid-19
Petrofac Limited (Petrofac) is today providing an update on the actions it is taking to respond to the unprecedented market conditions affecting our industry, clients and business. These decisive actions include the following: Protecting the health and wellbeing of our people, clients, suppliers and communities Reducing overhead and project support…
7 April 2020
Oil discovery near the Maria field in the Norwegian Sea – 6406/3-10
Wintershall Dea Norge AS, operator of production licence 836 S, is in the process of concluding the drilling of wildcat well 6406/3-10. The well was drilled about 8 kilometres west of the Maria field in the Norwegian Sea and 200 kilometres north of Kristiansund. The primary exploration target for the…
6 April 2020
Equinor : Oil discovery in the US Gulf of Mexico
Equinor and co-venturers Progress Resources USA Ltd and Repsol E&P USA Inc. have encountered oil in the Monument exploration well in the US Gulf of Mexico. The Monument exploration well found approximately 200 feet (c. 60 metres) of net oil pay with good reservoir characteristics in Paleogene sandstone. This provides…
6 April 2020
SeaBird Exploration : Contract Update – Eagle Explorer and Covid-19.
Further to the notice of 27 January 2020, SeaBird Exploration Plc has been notified that the end-client has cancelled the two OBN surveys off West Africa due to the COVID-19 situation. The Eagle Explorer has mobilized and is ready for work, and the Company expects to be made whole on…
6 April 2020
Woodside Joins Japanese Consortium To Study Exporting Carbon-Neutral Hydrogen
Woodside has signed an agreement with Japanese companies JERA Inc, Marubeni Corporation and IHI Corporation to undertake a joint study examining the large-scale export of hydrogen as ammonia for use decarbonising coal-fired power generation in Japan. The consortium has received approval from Japan’s New Energy and Industrial Technology Development Organization…