Search News
Latest News
2 May 2022
Acquisition of interest in the Albacora Leste field
Petro Rio S.A., hereby informs its shareholders and the market in general that it has signed today a Sale and Purchase Agreement with Petróleo Brasileiro S.A. (“Petrobras”) for the acquisition of a 90% interest and the operation of the Albacora Leste Field (“Field” or “Albacora Leste”). The consortium will then…
2 May 2022
PTTEP withdraws from Yetagun project in Myanmar
PTTEP has announced its decision to withdraw from the Yetagun project and the gas transportation company in Myanmar as part of its portfolio management. Mr. Montri Rawanchaikul, Chief Executive Officer, PTT Exploration and Production Public Company Limited (PTTEP), said the company has notified the joint venture partners in the Yetagun…
2 May 2022
Biden-Harris Administration Advances Offshore Wind Energy Leasing on Atlantic and Pacific Coasts
The Department of the Interior announced that the Bureau of Ocean Energy Management (BOEM) will publish two separate Calls for Information and Nominations for possible leasing in areas that are determined to be suitable off the coast of Oregon and in the Central Atlantic. BOEM Director Amanda Lefton made the…
2 May 2022
Pavo resource estimate
Highlights • Pavo-1 well proved the existence of a substantial volume of light oil in excellent quality reservoirs • Contingent resources are estimated at 43 million barrels (gross, 2C) • Additional prospective resources are estimated at 55 million barrels (gross, Pmean) • Pavo already being assessed for production through the…
2 May 2022
Santos completes sale of 12.5% Barossa interest to JERA
Santos announced completion of the sale of a 12.5 per cent interest in the Barossa project to JERA following the completion of all regulatory approvals. Cash proceeds to Santos at completion were US$327 million. The Barossa gas and condensate project to backfill Darwin LNG was 33 per cent complete at…
2 May 2022
Maersk Drilling awarded additional three-well contract with Aker BP
Maersk Drilling has secured a contract with Aker BP, on behalf of the Ivar Aasen license, who will employ the ultra-harsh environment jack-up rig Maersk Invincible for the drilling of three infill wells at the Ivar Aasen field offshore Norway. The contract has an estimated duration of 86 days and…
2 May 2022
Subsea 7 awarded contract offshore West Africa
Subsea 7 announced the award of a substantial1 contract for the engineering, procurement, installation, and commissioning of flowlines and umbilicals, offshore West Africa. Project management and engineering has commenced with offshore operations scheduled to take place from H1 2024. No further details are disclosed at this time due to contractual…
2 May 2022
North Sea Transition Authority, The Crown Estate and Crown Estate Scotland announce renewed collaboration to unlock the potential of carbon storage
The North Sea Transition Authority (NSTA), The Crown Estate (TCE) and Crown Estate Scotland (CES) are reiterating their continued commitment to work in close collaboration to help meet the UK Government’s ambitious carbon storage targets of 20-30 million tonnes of CO2 emissions per year by 2030, and over 50 million…
29 April 2022
New study illustrates scale of potential for the development of UK offshore wind
A new study on the future of offshore wind has illustrated the scale of potential of the UK seas for future deployment and is helping to understand and address how we best manage the various demands on our marine environment. The Future Offshore Wind Scenarios (FOWS) project is intended to…
29 April 2022
Westwood Insight – Key offshore themes from 1Q 2022
Westwood Global Energy Group has released its latest tranche of comprehensive quarterly offshore market reports and with it can reveal a few interesting themes and positive indicators that emerged from the first quarter of 2022. Within offshore field development, higher than expected commodity prices since late 2021 is driving an…
29 April 2022
Peak revenue: $2.5 trillion in cash to flow from oil and gas sector to government coffers in 2022
Sustained high commodity prices and increasing oil and gas supply are set to push upstream sector payments to governments to an all-time high of $2.5 trillion this year, smashing the previous record of $2.1 trillion set in 2011, Rystad Energy research shows. Saudi Arabia is, unsurprisingly, set to top the…
29 April 2022
Staatsolie and Chevron Sign Production Sharing Contract for Shallow Offshore Block 7
Staatsolie Maatschappij Suriname N.V. (Staatsolie) and Chevron Exploration Suriname Limited (Chevron) are pleased to announce they are expanding their cooperation in shallow offshore Suriname. A production sharing contract for offshore Block 7 was signed for this purpose on 26 April 2022. With the signing of the Production Sharing Contract (PSC),…
29 April 2022
Sequa Petroleum N.V. and partners have reached an agreement to acquire 10% of Block 15/06 in Angola from Sonangol P&P through Sungara Energies Limited, a new African entity
Sequa Petroleum N.V. and partners have reached an agreement to acquire 10% of Block 15/06 in Angola from Sonangol P&P through Sungara Energies Limited, a new African entity Sequa Petroleum N.V. (“SPNV”) is pleased to announce that Sungara Energies Limited (“Sungara”) has entered into an agreement with Sonangol Pesquisa E…
29 April 2022
Petrobras on the sale of the Albacora Leste field
Petrobras, following up on the release disclosed on 04/27/2021, informs that it signed today with Petro Rio Jaguar Petróleo LTDA. (PetroRio), a subsidiary of Petro Rio S.A., a contract for the sale of its total interest in the Albacora Leste concession, located predominantly in deep waters in the Campos Basin.…
29 April 2022
Maersk Drilling awarded one-well extension in the Dutch North Sea
ONE-Dyas B.V. has exercised an option to continue employing the harsh environment jack-up Maersk Resolute in the Dutch sector of the North Sea. Maersk Drilling awarded one-well extension in the Dutch North Sea The one-well contract extension is expected to commence in May 2022, in direct continuation of the rig’s…
29 April 2022
Shell Signs Production Sharing Contract for Atapu Field in Brazil
Shell Brasil Petróleo Ltda.(Shell Brasil), a subsidiary of Shell plc, signed the Production Sharing Contract (PSC) to formally acquire a 25 percent stake of the Atapu field. Shell paid $ 1.1 billion to Petrobras for the increased stake in the field. With the contract now signed, Shell will start receiving…
28 April 2022
ExxonMobil makes three new discoveries offshore Guyana, increases Stabroek resource estimate to nearly 11 billion barrels
ExxonMobil has made three new discoveries offshore Guyana and increased its estimate of the recoverable resource for the Stabroek Block to nearly 11 billion oil-equivalent barrels. Discoveries at Barreleye-1, Patwa-1 and Lukanani-1 to inform future development plans in southeast portion of block Continued success in Stabroek Block validates company’s ambitious…
28 April 2022
Neptune Energy confirms oil and gas discovery at Hamlet
Neptune Energy and its partners announced the discovery of oil and gas at the Hamlet exploration wells (PL153) in the Norwegian sector of the North Sea. In-place* volumes discovered in the Hamlet structure are estimated to be in the range of 5-11 million standard cubic metres (MSm3) or 30-70 million…
28 April 2022
ONGC inks MoU with Norway’s Equinor to collaborate on E&P, clean energy
Oil and Natural Gas Corporation Limited (ONGC) has signed a Memorandum of Understanding (MoU) with Equinor ASA, the Norwegian state-owned multinational energy company. The MoU was inked on 26 April 2022 in Indian capital New Delhi for collaboration and partnership in areas of upstream Exploration & Production, midstream, downstream and…
28 April 2022
Seadrill Limited Announces Contract Awards Totalling $404m for three jack-ups in the Middle East
Seadrill Limited (“Seadrill” or “the Company”) announces today that it has been awarded three contracts by a leading operator for the West Ariel, West Cressida, and West Leda for work in the Middle East. The firm-term of each contract is three years with expected commencement between Q1 2023 and Q2…
28 April 2022
Iberdrola starts construction of 476 MW Baltic Eagle offshore wind farm
Iberdrola has received the green light to begin construction of the Baltic Eagle offshore wind farm, the company's second major offshore project in the Baltic Sea (Germany). With a capacity of 476 MW, Baltic Eagle will be capable of supplying renewable energy to 475,000 homes and will prevent the emission…
28 April 2022
Acteon Realigns to accelerate offshore renewables growth
Acteon announces a new structure to further accelerate its growth in offshore renewables. Three new client-facing service divisions, Data and Robotics, Engineering, Moorings and Foundations, and Energy Services, represent a further milestone in the implementation of the strategy Acteon unveiled in 2021 to deliver services with demonstrable commercial and environmental…
28 April 2022
SSE partners with Brookfield for Dutch offshore wind tender
SSE Renewables has formed a strategic partnership with Brookfield for participation in the 1.4GW Hollandse Kust (west) offshore wind farm zone tenders which are currently underway in the Netherlands. Both companies view the Netherlands as a leading market for offshore wind development, supported by ambitious targets and a strong focus…
28 April 2022
Valaris Announces Sale of Jackups VALARIS 113 and 114
Valaris Limited (NYSE: VAL) (“Valaris” or the “Company”) announced that it has sold heavy duty modern jackups VALARIS 113 and 114 to ADES Saudi Limited for a total of $125 million. VALARIS 113 and 114 are PPL Pacific Class 400 jackups, both delivered in 2012. Both rigs have been stacked…
27 April 2022
ScotWind Clearing process opens
As part of the ScotWind Leasing round, which has to date seen 17 projects secure an option agreement, a further process of Clearing has today, 26 April 2022, begun. Clearing allows applicants who met the required standards during the initial round, but who were unsuccessful in securing their chosen location,…
27 April 2022
Providing FEED services for a gas pipeline in West Africa
Worley have been awarded a contract to provide main front-end engineering design (FEED Phase II) services for the Nigeria-Morocco Gas Pipeline (NMGP) project. The engineering study is progressing in accordance with the initial project planning. When completed, the over 7,000 km long gas pipeline, being promoted by Office National des…
27 April 2022
Acteon to harness the opportunity for big hammers to be used in the US offshore wind market
The US offshore wind market has seen a rush of activity over the last few months with several projects receiving approvals from The Bureau of Ocean Energy Management (BOEM) as well as the New York Bight auction, resulting in developers paying unprecedented prices for sites. In support of the recently…
27 April 2022
NKT finalizes the power cable system for the world’s biggest offshore wind farm
NKT continues to support the transition to renewable energy in the UK by completing the power cable system connecting the Hornsea 2 offshore wind farm to shore. With a capacity of 1.3 GW Hornsea 2 will be the world’s biggest offshore wind farm when fully operational. NKT finalizes the power…
27 April 2022
PGE begins wind resource measuring campaign for the Baltica 1 wind farm
PGE Baltica, subsidiary of PGE Group, is starting the stage of measuring of wind resources and metocean data collection for the needs of the Baltica 1 offshore wind farm. The campaign will be carried out by EOLOS Floating LiDAR Solutions, one of the most experienced providers of this kind of…
27 April 2022
ENOVA and PTSC signed Memorandum of Understanding (MOU) on Collaboration for Offshore Wind Power Project in Vietnam
RENOVA, Inc. (headquartered in Tokyo, Japan, hereinafter called “RENOVA”) and Petrovietnam Technical Services Corporation (headquartered in Ho Chi Minh City, Vietnam, hereinafter “PTSC”) held a signing ceremony for a memorandum of understanding (hereinafter “This MOU”) on a collaboration for an offshore wind power project. According to the MOU, RENOVA and…
27 April 2022
Empyrean Energy plc Block 29/11, China - Jade well reached Total Depth - No hydrocarbons in target reservoir
Empyrean Energy plc ("Empyrean" or the "Company"), the oil and gas development company with interests in China, Indonesia and the United States, provides the following update on drilling at the Jade prospect at its 100% owned Block 29/11 permit, offshore China: Higlights · LH 17-2-1 well at the Jade prospect…
27 April 2022
Drilling permit for well 6507/4-3 S
The Norwegian Petroleum Directorate (NPD) has granted ConocoPhillips Skandinavia AS drilling permit for well 6507/4-3 S, cf. Section 13 of the Resource Management Regulations.
26 April 2022
Plenitude invests in Enerocean's floating wind technology
Plenitude (Eni) announces that it is to invest in EnerOcean S.L., the Spanish developer of the W2Power technology for floating wind power. The deal is structured as a long-term partnership focused on the deployment of the W2Power technology as a lead contender for floating wind power developments worldwide. With two…
26 April 2022
C-Innovation Brings Remote Survey Operations to Gulf of Mexico
C-Innovation, LLC (C-I), an affiliate of Edison Chouest Offshore (ECO) and its family of companies, has announced that C-Survey (C-S), an internal division of C-I, has brought its remote survey operations to the Gulf of Mexico for the first time. C-I is one of the first companies in the world…
26 April 2022
Tidewater Announces Completion of Swire Pacific Offshore Acquisition
Tidewater Inc. (NYSE: TDW) (the “Company”) announced the completion of its acquisition of Swire Pacific Offshore Holdings Limited (“SPO”), a subsidiary of Swire Pacific Limited (HKSE: 0019.HK and 0087.HK), effective April 22, 2022. The completion of the SPO acquisition adds 50 vessels to the fleet and creates the world’s leading…
26 April 2022
ABL to support Hollandse Kust Noord build-out
CrossWind, the joint venture between Shell and Eneco, has appointed international energy and marine consultancy ABL Group to support the construction of the Hollandse Kust Noord offshore wind farm. ABL’s operations in the Netherlands, working closely with the company’s offices in Aberdeen and London in the UK, has been appointed…
26 April 2022
Aker BP – consent for exploration drilling in the Norwegian Sea
Aker BP have been given consent for exploration drilling in block 6507/2 in the Norwegian Sea.
26 April 2022
VAALCO Energy Announces Successful Avouma 3H-ST Development Well Placed on Production
VAALCO Energy Inc. (NYSE: EGY; LSE: EGY) ("VAALCO" or the "Company") today announced the successful completion of the Avouma 3H-ST development well that was drilled from the Avouma platform in the Etame field, offshore Gabon. The initial flow rate of the well was approximately 3,100 gross barrels of oil per…
26 April 2022
Finder Builds North Sea Position Around the Giant Buzzard Field
Finder Energy Holdings Limited (Finder or Company) is pleased to announce it has expanded its UK North Sea portfolio after entering into an agreement with Talon Energy Ltd (Talon) to acquire a 100% interest in Seaward Production Licence P2527 (P2527 or the Licence). The agreement is conditional upon obtaining the…
26 April 2022
Jan De Nul and Seiche test automated marine mammal detection during offshore activities
Jan De Nul Group joins forces with Seiche Ltd to start trials for the development of an automated marine mammal detection system on board of its vessels. To this purpose, Seiche’s visual and thermal cameras have been installed on board the vessel Adhémar de Saint-Venant currently working in the Netherlands.…
25 April 2022
SDRL: New Contract in Angola for Seadrill Joint Venture
Seadrill Limited (“Seadrill”) is pleased to announce a new contract has been secured by Sonadrill Holding Ltd (“Sonadrill”), Seadrill’s 50:50 joint venture with an affiliate of Sonangol E.P. (“Sonangol”). Sonadrill has secured a ten-well contract with options for up to eight additional wells in Angola for the West Gemini drillship.…
25 April 2022
Equinor – consent to use Deepsea Aberdeen
The Petroleum Safety Authority Norway has given Equinor consent to use Deepsea Aberdeen for temporary plugging, drilling and completion of wells on the Breidablikk field.
25 April 2022
Equinor – consent for exploration drilling in the North Sea
Equinor has been given consent for exploration drilling in production licence 1104 in the North Sea for 76 days if dry hole case or 18 extra days if a discovery is made using the Deepsea Stavanger.
25 April 2022
Lancaster Field FPSO Decommissioning Programme
Hurricane Energy has submitted a decommissioning plan for the Aoka Mizu floating production storage and offload (FPSO) vessel serving its Lancaster field. To view the full submitted plan click here.
25 April 2022
Pioneering Spirit executes first lift with Jacket lift system
Pioneering Spirit successfully deployed its revolutionary Jacket lift system (JLS) for the first time on 21 April to remove CNR International’s Ninian Northern jacket from the northern North Sea. Weighing in at 8100 tonnes, the first commercial lift with the new JLS technology is one of the heaviest offshore jacket…
25 April 2022
Offshore wind capacity additions in Europe to break records in 2022, driven by UK developments
New offshore wind capacity additions in Europe are poised to hit a record high this year, topping 4 gigawatts (GW) for the first time and more than doubling additions seen in 2021, Rystad Energy research shows. The continent’s capacity additions in 2022 will hit 4.2 GW, beating the 2021 total…
25 April 2022
CNOOC Limited Announces 2 Projects Commenced Production
CNOOC Limited announced that Luda 5-2 oilfield north phase I project and Kenli 6-1 oilfield 4-1 block development project have commenced production. Luda 5-2 oilfield north phase I project is located in Liaodong Bay of Bohai Sea, with average water depth of about 32 meters. In addition to fully utilizing…
25 April 2022
New collaboration to reduce subsea gas field carbon emissions
Chemical Engineers from The University of Western Australia are collaborating on new cost- and carbon-reduction technology to develop stranded gas fields in remote locations. Professor Zachary Aman, Chevron Woodside Chair in Long Subsea Tiebacks, Research Fellow Dr Bruce Norris, and a team of researchers from UWA School of Engineering will…
22 April 2022
Arup and Fichtner forms joint venture to oversee NeuConnect submarine interconnector
Built environment consultancy Arup has recently entered a joint venture (JV) with German engineering firm Fichtner, to provide project services for the NeuConnect Interconnector which will directly link UK and German electricity grids for the first time. The 1400 MW submarine and land cable system will connect two of Europe’s…
22 April 2022
Contract award – OSCV Siem Spearfish
Siem Offshore has entered into a new contract for the OSCV Siem Spearfish with client DeepOcean. The contract will commence in direct continuation of its current commitment, securing a firm utilization until the end of 2023. The contract shows an increased appetite in the market to secure OSCV’s for longer…