Valeura Energy has completed an infill drilling campaign at its Nong Yao oil field offshore Gulf of Thailand, where it holds a 90% operated working interest.The company has drilled four wells at the Nong Yao A wellhead processing platform, including…
The International Energy Agency (IEA) said on Thursday the 'explosive growth' in Indian oil product consumption may be coming to an end.In a monthly report, the IEA projected that India's oil product demand growth would slow to 2.5% next year from 4…
2023 has been another noteworthy year for the rig market’s ongoing recovery, with a 3% increase in global marketed utilization versus 2022, a demand increase of 29 rigs, a 7% uptick in average contract duration, 16 further reactivations and newbuild deliveries…
UK oil and gas company Baron Oil has signed a memorandum of understanding (MoU) with Timor Gap for the farm-up of 15% working interest in the Chuditch production sharing contract offshore Timor-Leste.Baron's wholly-owned subsidiary SundaGas Banda Unipessoal entered the MoU with Timor Gap…
Norwegian offshore vessel operator DOF Group has secured two new projects – one in the North Sea and the other in Asia Pacific region – whose combined revenue is expected to bring in $30 million to the company. The first contract for DOF covers engineering…
As 2023 is drawing to a close we would once again invite the readers of Offshore Engineer Magazine to gaze into our crystal ball to see what 2024 might have in store for the offshore support vessel industry. Before diving straight into our forward-looking sentiments however…
Japan's Mitsui and Co has decided to pull its employees out of Russia's Arctic LNG 2 liquefied natural gas (LNG) project, the Sankei newspaper reported on Tuesday, citing several sources, in yet another blow for the project.Fearing the backlash from the sanctions…
Despite short-term obstacles driven by high inflation and interest rates coupled with supply chain issues, we maintain that the foundations supporting long-term offshore wind activity remain solid. As we prepare for the new year, let us look…
Offshore drilling contractor Shelf Drilling reports one of its jack-up rigs has secured a contract award with PetroVietnam Domestic Exploration Production Operating Company Limited (PVEP POC).The firm term of the contract is approximately 16 months…
Singapore's Maritime and Port Authority (MPA) said on Thursday it was seeking proposals from companies to supply methanol as a marine bunker fuel at Singapore from 2025.The call emerged ahead of an expected uptick in methanol-powered ships,…
South Korea will provide 38 trillion won ($29 billion) in financing to strengthen its battery industry over the next five years, as global competition to secure battery supply chains remains fierce, the government said on Wednesday.South Korean battery firms like LG Energy Solution…
Mubadala Energy has made a significant gas discovery from the Layaran-1 Exploration well, drilled in South Andaman, offshore North Sumatra in Indonesia.Mubadala Energy is the operator of the South Andaman Gross Split PSC and this is the first deep water well operated by the company…
L10CCS, one of the large stores to be connected to the Aramis CO₂ transport and storage initiative in the Dutch part of the North Sea, has entered the next phase in the project, Front End Engineering Design (FEED).Neptune Energy and its partners EBN…
Japan's industry and land ministries on Wednesday picked three consortia, including one featuring Germany's RWE and its partners, to operate offshore wind farms in the second round of a public auction. They said they would award a fourth wind farm that was part of the tender at a later date…
Yinson Production officially named its latest addition to the fleet, FPSO Atlanta, during a naming ceremony held at Dubai Drydocks World on December 13, 2023.FPSO Atlanta has a production capacity of 50,000 BOPD and a maximum storage capacity of 1…
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