Climate change has been a hot topic over the last few years, with tighter environmental regulations being introduced.Large multinational companies are under increasing pressure to reduce their carbon footprint and transition to cleaner energy solutions…
Franco-American oil services firm TechnipFMC Plc is putting on hold plans to split itself into two due to turbulence in financial markets linked to the coronavirus outbreak, it said on Sunday.The group, created three years ago via the merger of Technip and FMC…
Italian oilfield services company Saipem has agreed to buy Solstad Offshore's lay barge vessel DLN Norce Endeavour.Saipem had in December 2019, chartered the vessel from Solstad Offshore. The charter included an option for Saipem to acquire the vessel…
Oil prices were set for their biggest weekly slide since the 2008 financial crisis despite a 7% bounce on Friday, as the coronavirus outbreak threatened demand and crude producers promised more supply.Brent crude was up $2.50, or 7.3% on the day…
Malaysia’s Sapura Energy has completed the installation of a satellite platform topside offshore Mexico, as part of Hokchi Energy's Hokchi field development.In a post on social media on Friday, Sapura Energy said it successfully lifted and set down the Hokchi Satellite Platform topside…
Mubadala Petroleum has increased its ownership share in the G1/48 block containing the Manora oil field in the Gulf of Thailand.The company has, via its subsidiary MP G1, taken a 10 percent interest in the offshore block from Northern Gulf Petroleum…
Equinor reported the oil industry's first coronavirus infection on an offshore installation on Wednesday, highlighting the challenge in preventing contamination for thousands of workers living in the close quarters on rigs and platforms.A worker…
Australia's oil and gas company Santos will sell a 25% interest in Darwin LNG and Bayu Undan gas condensate offshore field to SK E&S for US$390 million with effect from October 1, 2019 with customary adjustments on completion.Santos also said…
Subsea well intervention is on the rise around the world. It has already become established in Europe, where each subsea well now experiences an average of 1.5 intervention days per year, according to speakers at last year’s OWI APAC conference…
AllSurplus, an online auction marketplace owned by Liquidity Services, is currently marketing two offshore production units from Petronas in a private treaty sale.The company said Tuesday that the two assets are 30,000 BFPD Self-Elevating Mobile…
Triangle Energy has restarted production at the Cliff Head Alpha Platform offshore Western Australia, following a halt caused by an electrical fault in February.'Production resumed on 10 March 2020 and following a thorough testing and inspection program over the last 24 hours…
Norway's offshore installation company Ocean Installer has won a deal to deliver and install a subsea power cable in China, as part of CNOOC Liuhua 16-2 oil field development in the South China Sea.In what is the company's second contract in China…
ABB will equip Japan-built self-elevating wind turbine installation vessel with its power and control technologies.The company said Tuesday that the 28,000-GT jack-up unit on order from builder Japan Marine United Corp, and due for delivery to Shimizu Corp…
China National Offshore Oil and Gas Corp (CNOOC) is set to inject its struggling natural gas terminal and power unit into its flagship listed vehicle CNOOC Ltd, three senior sources with knowledge of the matter said. The plan for the internal merger…
Oil and gas companies might be heading for another round of 'brutal' cost cuts in the wake of the oil price crash caused by coronavirus outbreak and Saudi-Russia stand-off on output cuts.Wood Mackenzie’s Tom Ellacott said: “The price collapse…
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