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Latest news - International

Orbital Marine Power unveils new 30MW tidal energy project in Orkney waters

Orbital Marine Power unveils new 30MW tidal energy project in Orkney waters Company plans include significant job creation and boost to its UK supply chain plans.   Orbital Marine Power (Orbital), the renewable energy company focused on the commercial deployment of its innovative floating tidal turbine technology, announced it has been awarded an Option Agreement from Crown Estate Scotland for a new tidal energy project in the Westray Firth. Orkney-headquartered Orbital also con...

JX Nippon Oil & Gas Exploration to purchase Japan Drilling Co.

JX Nippon Oil & Gas Exploration to purchase Japan Drilling Co. Japan’s oil and gas player JX Nippon Oil & Gas Exploration Corporation is in the process of acquiring the country’s rig owner, Japan Drilling Co. (JDC), in a bid to strengthen its position in the oil and gas industry.   JX Nippon revealed last week that it had reached an agreement with the funds related to Aspirant Group to obtain the entire issued shares of JDC. The firm intends to move forward with...

Semi-submersible rig kicks off its drilling gig in Nigeria

Semi-submersible rig kicks off its drilling gig in Nigeria   Offshore drilling contractor Dolphin Drilling has disclosed that one of its semi-submersible rigs has started its drilling assignment in Nigeria. Following a letter of award (LoA) for the Blackford Dolphin semi-sub rig from September 2022, the offshore drilling contractor confirmed the formal 12-month contract award with General Hydrocarbons Limited (GHL) in October 2022 for operations in Nigeria. At the time, the company...

Decom Week 2023 to Facilitate Operator-Supply Chain Conversation

Decom Week 2023 to Facilitate Operator-Supply Chain Conversation   Decom North Sea, the only membership organisation focused upon decommissioning across the energy industry, has announced a programme of events for Decom Week 2023 which transcends the standard industry conference format. Taking place 15 – 19 May, Decom Week will include a wide-ranging series of events designed to build relationships, offer exclusive decommissioning sector intelligence and knowledge, and recog...

OEUK calls on government to rebuild investor confidence ahead of key conference​ ​

OEUK calls on government to rebuild investor confidence ahead of key conference​ ​   The leading trade body for the UK’s offshore energy sector is to reiterate industry’s commitment to net zero alongside its health, safety and environmental responsibilities in a keynote speech delivered by CEO Dave Whitehouse at the flagship HSE Conference next week. Speaking to an audience of operators, supply chain, regulators and academics in Aberdeen on Tuesday, Dave Whitehouse will...

Maersk Sells Last Major Energy Asset

Maersk Sells Last Major Energy Asset   A.P. Moller-Maersk A/S has finally found a buyer for its last major energy-division asset after putting it up for sale seven years ago, allowing it to complete a historic transformation into a pure transport operator. It’s selling Maersk Supply Service for $685 million, based on enterprise value, to A.P. Moller Holding A/S, the investment firm owned by the billionaire Maersk family and a closely related entity of Maersk, the Copenhagen-...

Wood Group grants Apollo extension on bid deadline

Wood Group grants Apollo extension on bid deadline   Private equity firm Apollo has been given an extension on whether it will formally bid for Wood Group after three prior approaches were rebuffed. Wood on Friday said it had asked the UK’s Takeover Panel to extend the date to April 19 from the current date of March 22. The FTSE 250 energy services company made the request after engagement with shareholders and to allow for the scheduled release of its annual results on M...

Proserv appoints Prometim as representative for Angola and Congo

Proserv appoints Prometim as representative for Angola and Congo Agreement enables both parties to target subsea and topside opportunities in west Africa   Aberdeen, March 16th: Global controls technology company Proserv has announced that it has established an arrangement with Luanda based service provider Prometim whereby the Angolan business will act as its local representative in both Angola and the Republic of Congo. Prometim specialises in maintenance, asset integrity and...

Fossil fuels received £20bn more UK support than renewables since 2015

Fossil fuels received £20bn more UK support than renewables since 2015   The UK government has given £20bn more in support to fossil fuel producers than those of renewables since 2015, the Guardian can reveal. The research, commissioned by the Liberal Democrats, found that while renewable energy was given £60bn in support over that time, fossil fuel companies were given close to £80bn. In 2020, renewable energy support was greater than fossil fuel support...

Equinor Makes Further Oil and Gas Discovery Near Troll Field in North Sea

Equinor Makes Further Oil and Gas Discovery Near Troll Field in North Sea   Equinor ASA said Tuesday that it has made a further oil and gas discovery near the Troll field in the North Sea, marking its eighth discovery in the area since 2019. The Norwegian energy major said volumes are estimated at between 24 million and 84 million barrels of oil equivalent, with slightly more oil than gas. Equinor is operator of the discovery and DNO ASA is a partner. "Our Troll explora...

Norway’s Cash Flow From Direct Oil and Gas Ownership Hits Record

Norway’s Cash Flow From Direct Oil and Gas Ownership Hits Record   Norway earned 528 billion kroner ($50 billion) from its direct ownership of oil and gas licenses last year, more than five times the amount earned in a normal year, as the country became Europe’s biggest supplier of natural gas after Russia’s invasion of Ukraine. Petoro, which manages the Norwegian state’s direct financial interest in 36 producing oil and gas fields, reported a result that is...

STEM challenge sponsorship inspires next generation of engineers

STEM challenge sponsorship inspires next generation of engineers   J+S Subsea is playing its part in promoting a career in engineering to the next generation. They have just been announced as a sponsor of Global Underwater Hub’s 2023 STEM Challenge. The challenge aims to engage pupils with an interest in science, technology, engineering and mathematics (STEM) subjects through an exciting, hands-on project and inspire them to consider a career in the underwater industry....

Biden Administration To Approve Major Oil Project In Alaska -source

Biden Administration To Approve Major Oil Project In Alaska -source   U.S. President Joe Biden's administration will approve a major and controversial oil drilling project in Alaska on Monday, according to a source familiar with the matter. The decision to move ahead with the project by authorizing three drill sites in northwestern Alaska would come a day after Biden announced sweeping curbs on oil and gas leasing to protect up to 16 million acres of water and land in the regio...

Oil giant Saudi Aramco makes a historic USD 161 billion profit in 2022

Oil giant Saudi Aramco makes a historic USD 161 billion profit in 2022   Oil giant Saudi Aramco reported on Sunday earning USD 161 billion last year, claiming the highest-ever recorded annual profit by a publicly listed company and drawing immediate criticism from activists. The monster profit by the firm, known formally as the Saudi Arabian Oil Co., came off the back of energy prices rising after Russia launched its war on Ukraine in February 2022, with sanctions limiting the sale...

New UK-France partnership to bring "more energy security and independence"

New UK-France partnership to bring "more energy security and independence"   New blueprint for UK-France energy cooperation promotes regional and global energy security, as well as delivering secure, green, affordable energy for both countries Agreement bolsters nuclear cooperation, including on new nuclear and reducing reliance on civil nuclear goods from Russia Both also commit to tackle barriers to deploying hydrogen and carbon capture, with agreement also potent...

Petrobras, Shell to look for joint drilling opportunities

Petrobras, Shell to look for joint drilling opportunities   Brazilian state-run company Petrobras and international oil major Shell will work together to identify potential opportunities to explore for and produce crude and natural gas, Petrobras said on Thursday (March 9). Under a memorandum of understanding signed by the companies, Petrobras and Shell will focus on exploration opportunities inside and outside the country’s offshore pre-salt fields, a key oil-bearing area of...

Chevron Aims to Increase Oil Production in Kazakhstan

Chevron Aims to Increase Oil Production in Kazakhstan   Chevron plans to increase oil production to one million barrels per day in Kazakhstan, Chevron CEO Mike Wirth announced at the CERAWeek conference in Houston, United States, on March 6, reported Kazinform. According to Wirth, Chevron has been focusing on expanding its activities in Kazakhstan for nearly a decade. “Chevron was the first large American investor in the country that helped develop the Kazakh energy system...

North Sea Chapter Of IADC Urges Politicians To Maintain Focus To Avoid ‘Economic Adversity’ For Uk

North Sea Chapter Of IADC Urges Politicians To Maintain Focus To Avoid ‘Economic Adversity’ For UK   Parliamentarians across the UK have been urged to ignore the “political point scoring” which has led to premature calls for the abandonment of the UK’s oil and gas industry. The call came in a letter from the North Sea Chapter of the International Association of Drilling Contractors (IADC) to members of parliament in London and Edinburgh after the group...

OPEC raises worries about too little investment in oil, gas

OPEC raises worries about too little investment in oil, gas   Investments in oil and gas production continue to come up short, threatening energy security and affordability, the secretary general of OPEC said on Tuesday. OPEC estimates that the world will need to invest $12.1tr through 2045 in upstream, midstream and downstream to keep up with demand, said Haitham Al-Ghais, OPEC secretary general of OPEC. He made his comments during the CERAWeek by S&P Global energy conference....

Solstad sells 37 vessel’s for $577m

Solstad sells 37 vessel’s for $577m   Norwegian offshore support vessel owner Solstad Offshore has agreed to sell 37 platform supply vessels to the U.S. firm Tidewater for $577 million. The sale will mark Solstad Offshore's exit from the platform supply vessel sector. Ongoing PSV charter parties will be transferred to Tidewater. Solstad will offer management services to Tidewater in a transition period to facilitate a smooth transfer for the parties and the customers....
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