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6 April 2020
innogy paves the way for its third Offshore wind farm off the German coast
Energy company innogy SE paves the way for its third German offshore project Kaskasi: The company took the final investment decision (FID) for the construction of the 342 megawatt (MW) wind farm, which is located 35 kilometres north of the island of Heligoland. In preparation for construction, contracts for all…
6 April 2020
Shelf Drilling Announces Contract Update For Shelf Drilling Mentor
Shelf Drilling, Ltd. (“Shelf Drilling” or the “Company”, OSE: SHLF) announced that it has entered into a mutual agreement with the customer to amend the contract end date for the Shelf Drilling Mentor from January 2022 to October 2020. This contract was originally executed in 2017 and commenced in early…
6 April 2020
OGUK launches survey to understand issues facing supply chain
The leading representative body for the UK offshore oil and gas industry has launched a survey in a bid to help find solutions to the problems faced by the supply chain as it deals with the impact of the coronavirus pandemic and low oil and gas prices. A comprehensive set…
6 April 2020
Lebanon Extends Deadline for Licensing Due to COVID-19
The Lebanese Petroleum Administration (LPA) has announced a postponement of the closing date for its ongoing second offshore exploration licensing round in response to the spread of COVID-19 worldwide. The new deadline is 1 June 2020. His Excellency the Minister of Energy and Water for Lebanon, Raymond Ghajar issued the…
6 April 2020
ANP 17th Bidding Round is suspended
The ANP board approved the temporary suspension of the 17th Bidding Round for areas for exploration and production of oil and natural gas, under the concession regime, which was scheduled for this year. The Agency complied with the determination of the Ministry of Mines and Energy which, in an official…
6 April 2020
The current challenges for the UK and Norway in the face of COVID-19
The world has been transformed in the past month since the Covid-19 pandemic took hold. The dramatic impact of COVID-19 on global oil demand has been compounded by Saudi Arabia and Russia failing to agree production cuts to stabilise oil prices. With Brent trading well below US$30/bbl the resilience of…
6 April 2020
Minor gas discovery southwest of the Skarv field in the Norwegian Sea – 6506/5-1 S
Aker BP, operator of production licence 1008, has concluded the drilling of wildcat well 6506/5-1 S. The well was drilled about 50 kilometres southwest of the Skarv field in the Norwegian Sea and 210 kilometres west of Brønnøysund. The objective of the well was to prove petroleum in Upper Cretaceous…
3 April 2020
Siemens Gamesa secures preferred supplier status for 1.1 GW offshore in Germany using upgraded 11 MW turbine with 200-meter rotor
Ørsted has conditionally named Siemens Gamesa Renewable Energy as the preferred turbine supplier for two offshore wind power projects in the German North Sea totaling 1,142 GW. At both the 900 MW Borkum Riffgrund 3 and the 242 MW Gode Wind 3 sites, Siemens Gamesa will deploy its new SG…
3 April 2020
Subsea 7 awarded contract offshore Germany
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) today announced the award of a sizeable(1) contract innogy Kaskasi GmbH for the Kaskasi offshore wind farm project, located approximately 35km north west of Heligoland in the German sector of the North Sea. The contracted work scope includes the transport and installation…
3 April 2020
Wood : Actions taken in response to Covid-19, withdrawal of final dividend recommendation and postponement of AGM
“Like many companies, Wood is being affected by the unprecedented event of Covid-19 and its impact on the global economy - an event compounded by the sharpest decline in oil price in 20 years. Our strategy has led to a substantial broadening of our business across energy and built environment…
3 April 2020
Petrobras on new oil discovery in the pre-sal
Petróleo Brasileiro S.A. – Petrobras informs that it has identified the presence of oil in the pioneer well of the Uirapuru block, located in the Santos Basin pre-salt. The pioneer well is located about 200 km off the coast of the city of Santos (SP), at a water depth of 1,995…
3 April 2020
Energean Oil & Gas plc (“Energean” or the “Company”) Karish Project Update - FPSO Hull Sailaway from China
Energean Oil and Gas plc (LSE: ENOG, TASE: אנאג ,(the oil and gas producer focused on the Mediterranean, is pleased to announced that its FPSO hull sailed away from the COSCO yard in China on 3 April 2020. The hull will now be towed to the Sembcorp Marine Admiralty Yard in…
3 April 2020
PGS Completes Acquisition on Kwanza Shelf and Releases Fast-Track Data
Marine geophysical company PGS today announced the completion of acquisition on its MC3D Kwanza Shelf survey offshore Angola. Total GeoStreamer coverage in Blocks 6, 7 and 8 and the surrounding areas of the Kwanza Shelf is now 8 300 square kilometers. Fast-Track Data Available Now The latest Kwanza Shelf survey…
3 April 2020
Petro-Victory Energy Corp Announces Drilling of VIDA Well and Operational Update
Petro-Victory Energy Corp. (TSX-V: VRY) (“Petro-Victory” or “Company”) is pleased to provide the market with a drilling and operational update across the Company’s portfolio of assets in Brazil. Exploration Well (Vida) Currently Drilling The Company is pleased to announce that it commenced the drilling of the 1-VID-1-ES (Vida) exploration well…
3 April 2020
AqualisBraemar sets up office in North East of England
AqualisBraemar has set up a new office in the Port of Tyne to support its rapidly developing rig inspection services and to be closer to numerous clients in the North East of England. Mark Lomas “It may seem odd to announce the opening of a new office when much of…
3 April 2020
Suriname: Total Announces a Second Discovery in Block 58
Total and Apache Corporation have made a second significant discovery with the Sapakara West-1 well on Block 58 offshore Suriname. It follows the previous discovery at Maka Central-1. The well was drilled by a water depth of about 1,000 meters and encountered 79 meters net pay of high-quality light oil…
3 April 2020
Tullow Oil Business Update RBL redetermination confirms debt capacity of $1.9 billion and headroom of c.$700 million Further cost savings identified
Tullow Oil plc (Tullow) provides this update following the successful completion of its RBL redetermination and identification of further cost savings as the company continues to adapt to the challenging external environment. Les Wood, Chief Financial Officer, commented today: “Securing the ongoing support of our RBL lending banks and confirming…
2 April 2020
Apache Corporation Announces Significant Oil Discovery Offshore Suriname At Sapakara West-1
Apache Corporation (NYSE, Nasdaq: APA) and Total S.A. (NYSE: TOT) today announced a significant oil discovery at the Sapakara West-1 well drilled offshore Suriname on Block 58. The well was drilled using the Noble Sam Croft with Apache as operator holding a 50% working interest and Total holding a 50%…
2 April 2020
BP details COVID-19 response and provides market update
BP today set out actions it is taking in response to the COVID-19 pandemic and ongoing market disruption. It also provided an update on factors expected to affect its first quarter results. Chief executive Bernard Looney said: “The world is in a fight against COVID-19 and I want to thank…
2 April 2020
Winter 2019-2020: offshore wind energy in the Belgian North Sea breaks record
This winter (Nov 2019 – March 2020), offshore wind energy covered ±9% of total electricity demand, which represents a 50% increase over the annual average in 2019. Each year, wind farms in the Belgian part of the North Sea generate an above-average amount of green electricity in winter. The wind…
2 April 2020
JDR Completes Subsea Cables Delivery for Taiwanese Changhua Project
JDR designed and manufactured 65km of array and export cable to transmit power from the wind turbines to the shore. The 33kV cables were manufactured at JDR’s state-of-the-art facility in Hartlepool, UK, supported by its group facility in Bydgoszcz, Poland, before being successfully loaded onto the Cable Laying Vessel Isaac…
2 April 2020
McDermott Announces Early First Gas on ONGC's 98/2 Block Project
McDermott International, Inc. today announced that early first gas has been achieved on India's Oil and Natural Gas Corporation's (ONGC) 98/2 Block in the Krishna Godavari Basin, offshore India. Awarded in October 2018, the largest subsea project in India brings together leading subsea equipment and services to provide ONGC with…
2 April 2020
TGS Announces Plans for New Atlantic Margin Survey in Summer 2020
TGS, a leading provider of multi-client geoscience data for exploration & production (E&P) companies, today announced that it will be commencing the Atlantic Margin 20 (AM20) 3D multi-client project as soon as the marine seismic acquisition season gets underway in north-west Europe this summer. The survey will be acquired by…
2 April 2020
TechnipFMC Announces Actions to Address Market Conditions, Annual General Meeting Update
TechnipFMC plc announced that it remains focused on taking all necessary steps to ensure the health and well-being of its employees, contractors and partners, and it is taking decisive actions in response to the current market environment. These actions include the following:• 30% reduction in 2020 capital expenditures to $300…
2 April 2020
Aker Solutions Reduces Costs and Capital Spending
Aker Solutions is implementing a number of measures to mitigate the effects of the slowdown in activity level triggered by the COVID-19 outbreak and the increased uncertainty following the decline in commodity prices and demand for oil and gas. The company has the resources, organization, competence and assets to maintain…
2 April 2020
Eco (Atlantic) Oil & Gas LTD - Market Update
Eco (Atlantic) Oil & Gas Ltd. (AIM: ECO, TSX‐V: EOG), the oil and gas exploration company with licences in highly prospective regions in South America and Africa, provides an update to the market. In light of the COVID-19 pandemic, Eco continues to take all of the recommended measures to protect…
2 April 2020
Apache Corporation Doubles Estimate Of Annual Cost Savings From Recent Organizational Redesign
Apache Corporation (NYSE, Nasdaq: APA) provided an update regarding the cost savings associated with its previously announced organizational redesign. Apache now expects to deliver an annualized G&A and LOE cost reduction in excess of $300 million, up from an original target of $150 million. Approximately $225 million of the identified…
2 April 2020
Subsea 7 withdraws 2020 guidance
Subsea 7 S.A. (Oslo Børs: SUBC, ADR: SUBCY) announced that due to the general uncertainty in the world and for our industry caused by the coronavirus and the collapse in commodity prices, it is withdrawing the guidance and outlook statements issued on 27 February 2020. The Company’s first priority is…
2 April 2020
Woodside : Scarborough gets a green light
Woodside has achieved an important regulatory milestone for its Scarborough gas development offshore Western Australia. The National Offshore Petroleum Safety and Environmental Management Authority (NOPSEMA) has advised of its acceptance of the Scarborough Offshore Project Proposal (OPP), following its assessment of the potential environmental impacts over the life of the…
1 April 2020
Ithaca Isabella Discovery
Ithaca Energy Limited (IAECN: ISINs US46567TAA25 / USG49774AA35) (“Ithaca” or the “Company”) is pleased to announce the “Isabella” exploration well in Block 30/12d in the UK Central North Sea has discovered hydrocarbons in the Upper Jurassic and Triassic sandstone reservoirs. This is an encouraging high-pressure high-temperature discovery in a location…
1 April 2020
Oceaneering secures maintenance build and inspection contract with GOLAR for FLNG
Oceaneering International, Inc. (Oceaneering) has been awarded a contract by Golar LNG for a FLNG vessel maintenance build, and inspection and maintenance program. The scope of work – commencing in January 2020 – will include an asset register build, a full maintenance build program, a risk-based inspection assessment, and the…
1 April 2020
RAK Petroleum plc Postpones Release of 2019 Annual Report and Accounts
RAK Petroleum plc, the Oslo-listed oil and gas investment company, notes the statement by the United Kingdom Financial Conduct Authority ("FCA") requesting that all listed companies observe a moratorium on the publication of preliminary financial statements for at least two weeks and that this be considered for audited full year…
1 April 2020
EnQuest cleared to decommission Alma and Galia FPSO
EnQuest has gained approval from the UK authorities for its decommissioning plan for the FPSO on the Alma and Galia fields in the north sea as well as associated subsea instillations and pipelines. The authorities approved plans to remove of the FPSO to shore for recycling unless alternative re-use options were found…
1 April 2020
Banff and Kyle Field Decommissioning Programmes For FPSO and FSO Float Off
CNR International (CNRI) has filed plans for the removal of the Petrojarl Banff FPSO and the Apollo Spirit FSO, from its Banff and Kyle fields in the North Sea. As well as the two floaters CNRI will also remove the associated risers and mooring systems. More
1 April 2020
Stinger contract award
Kawasaki Heavy Industries, Ltd. have contracted Stinger for services related to planning and preparing site testing of an AUV equipped with a robot arm for performing subsea pipeline inspections. The underwater intervention drone is based on a fusion of submarine technologies and industrial robot technologies fostered in-house over many years…
1 April 2020
Equinor extends offshore agreement with Coor
Coor has delivered facility management services to five of Equinor’s oil platforms since 2015. Equinor has chosen to extend the agreement by three years by exercising an option under the contract. The agreement is worth just under SEK 200 M annually. The extension applies from 1 July 2020. Coor is…
1 April 2020
Polarcus Awarded XArray™ 3D Project In North West Europe
Polarcus Limited (“Polarcus” or the “Company”) (OSE: PLCS) announces the award of an XArray™ 3D marine seismic acquisition project in North West Europe commencing in Q2 2020 with a duration of approximately 3 months.
1 April 2020
PGS and TGS Complete Imaging and Release Final Data for 2020 Eastern Newfoundland Licensing Round in Canada
Marine geophysical company PGS and joint venture partner TGS announce the release of final 3D seismic data results offshore Newfoundland and Labrador, ahead of the C-NLOPB announcement of parcels and the forthcoming licensing round. The fully merged and migrated Tablelands and North Tablelands 3D datasets cover approximately 12 500 square…
1 April 2020
Zenith Energy LTD. ("Zenith" or the "Company") Letter of Intent for US$2 million investment
Zenith Energy Ltd., ("Zenith" or the "Company"), (LSE: ZEN; TSX.V: ZEE; OSE: ZENA-ME), the international oil & gas production company, announced that it has signed a non-binding Letter of Intent ("LOI") with an Arab consortium of strategic institutional investors focused on African development opportunities, to provide an investment of US$2…
1 April 2020
Neptune Energy Announces Full Year 2019 Results
Neptune Energy, the global independent oil and gas exploration and production company, today announces its financial results for the period ended 31 December 2019. Resilience plan in place to manage impacts of COVID-19 pandemic and weaker oil price environment Implemented pandemic emergency plan and working with authorities, partners and global…
31 March 2020
Trelleborg Awarded Contract by Ørsted to Supply World’s Largest Offshore Windfarm with NjordGuard Cable Protection Systems
Trelleborg’s applied technologies operation has been awarded a contract by leading renewable energy provider, Ørsted, to provide four integrated cable protection systems for Hornsea Two, the world’s largest offshore windfarm. Trelleborg’s NjordGuard cable protection system will be used to protect the inter array power cables from fatigue, over-bending and abrasion,…
31 March 2020
FAR Corporate Update
FAR Limited (ASX: FAR) provides the following update. The COVID-19 pandemic combined with the precipitous fall in Brent oil price by over 60% since January 2020 has adversely impacted global financial markets including the global availability of credit. Consequently, the Company’s ability to close the Sangomar Project debt arrangements that…
31 March 2020
Nippon Execution of Study Agreement with PETRONAS
JX Nippon Oil & Gas Exploration Corporation ("JX") (President and CEO: Hiroshi Hosoi) has announced that it has, in collaboration with Japan Oil, Gas and Metals National Corporation ("JOGMEC"), executed a Study Agreement ("SA") with Petroliam Nasional Berahad (PETRONAS), a national oil company, to implement a joint study on the…
31 March 2020
SOCAR and Equinor confirm participation in the development of Karabagh field, sign an HSE cooperation agreement
On March 30, 2020, President of SOCAR Rovnag Abdullayev met with Head of Equinor Representative Office in Azerbaijan Fawad Quraishi. They have discussed the issues related to the discovery of Karabagh oil field and exchanged views on the prospective cooperation in new areas, including industrial safety.On March 19, 2020, the…
31 March 2020
Parkmead Group Interim Results For The Six-Month Period Ended 31st December 2019
Parkmead, the UK and Netherlands focused energy group, with four business areas, has reported its interim results for the six-month period ended 31 December 2019. Highlights Strong financial position and robust producing assets, despite current low gas price environment Well capitalised, with cash balances of US$33.6 million (£25.9 million) as…
31 March 2020
McDermott Awarded Contract by BHP for Trion FPU Pre-FEED Design Competition
McDermott International, Inc. announced today it has been awarded a sizeable* contract by BHP Billiton Petróleo Operaciones de México, S. De R.L. De C.V. (BHP) to provide pre-front-end engineering design (pre-FEED) services for a floating production unit (FPU) that will be installed in a water depth of approximately 8,200 feet…
31 March 2020
Aker Solutions Secures Brownfield Services Contract in Brunei
Aker Solutions, in a joint venture with PTAS Sdn Bhd, has signed a five-year agreement to provide offshore maintenance and modification services to Brunei Shell Petroleum (BSP). Scope of work covers maintenance and upgrades to maintain production levels for more than 200 offshore assets. The name of the new entity…
31 March 2020
Consultation on APA 2020 allocation in predefined areas
The Ministry of Petroleum and Energy proposes to announce 36 new blocks in this year's licensing round in the geologically best-known areas on the Norwegian continental shelf - APA 2020. The proposal is now sent for public consultation. More
31 March 2020
Siccar Point Energy Announces Cambo FID Deferral to 2021
Operator Siccar Point Energy E&P Ltd (‘Siccar Point’), and its joint venture partner, Shell UK, have announced the deferral of the planned sanction date for the Cambo project to 2021 in light of the unprecedented worldwide macroeconomic dislocation resulting from Covid-19. The Cambo field, located 125km northwest of the Shetland…
30 March 2020
Whitebark Terminates Wizard Lake Oilfield residual interest Acquisition Agreement
Whitebark Energy Limited (WBE) through its wholly owned subsidiary Salt Bush Energy Limited (SBE) has terminated the Definitive Agreement to acquire the residual 40% interest in the Wizard Lake Oilfield.As a result of not completing the Agreement there will be no material changes to WBE cashflow from the field due…