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World's Largest Wealth Fund Cites Paucity of Good Green Energy Deals

Oct 30, 2020

While societal, political and corporate pressure continue to push innovation on renewable energy, the world's largest wealth fund is apparently having trouble identifying good investment deals in the sector.Norway's $1.1 trillion sovereign wealth fund, the world's largest, is having trouble finding suitable unlisted renewable- energy projects to invest in due to the paucity of projects and strong competition for stakes in them…

GIEK Doubling Down on Offshore Wind

Oct 30, 2020

Tasked to provide the financial power to help Norwegian companies export their wares to the world, Wenche Nistad, CEO of the Norwegian Export Credit Guarantee Agency (GIEK) pulls no punches when asked about the appetite for investment in traditional…

OHT Orders Its First Wind Turbine Generator Installation Unit

Oct 05, 2020

Offshore Heavy Transport (OHT) has signed the firm order for the construction of an offshore wind turbine generator installation vessel, which will mark the heavy-lift and transportation company's entry into the offshore wind turbine installation business…

Lundin Energy Appoints New CEO

Aug 18, 2020

Lundin Energy, a Swedish energy company with offshore oil and gas operations in Norway, on Tuesday said it had appointed Nick Walker as President and Chief Executive Officer (CEO).The appointment of Walker, which will become effective on January 1…

Petronas, FASTsubsea Working on 'Low-cost' Subsea Multiphase Pump

Aug 11, 2020

Petronas Research, a subsidiary of the Malaysian oil and gas giant Petronas, has joined a joint industry project to develop and test a low-cost, topside-less subsea multiphase pump.The company has signed a contract with FASTsubsea, a joint venture between Aker Solutions and FSubsea…

Aker Solutions Sees Outlook Improving in H2 2020

Jul 15, 2020

Norwegian oil services firm Aker Solutions said on Wednesday the outlook has improved for the second half of the year with oil prices partly recovered from the lows in April and Norway offering tax incentives for the oil industry.Its full-year 2020 revenue…

Keppel Rejects Awilco Drilling's Rig Contract Termination. Ponders Legal Action

Jun 09, 2020

Singapore's offshore rig builder Keppel is considering taking legal action against Awilco Drilling after the drilling company on Monday said it had terminated a rig construction contract with Keppel.Awilco Drilling said Monday that its subsidiary…

Awilco Drilling Scraps Semi-Sub Rig Deal with Keppel

Jun 08, 2020

Offshore drilling company Awilco Drilling has terminated an offshore rig construction deal with Keppel, citing a breach of contract.Awilco said Monday that its subsidiary Awilco Rig 1 (AR1) had notified Singapore-based Keppel FELS that it had…

Keppel, Borr Drilling Agree on Jack-Up Deliveries Delay

Jun 05, 2020

Offshore drilling company Borr Drilling has reached agreements with Keppel and its creditors to defer newbuild rig deliveries, and to defer certain interest payments, respectively, in a move which Borr says will improve its liquidity.Singapore…

PSA Norway OKs Neptune's Gjøa Drilling Plans

Jun 01, 2020

Oil and gas company Neptune Energy has been given a regulatory consent to use the Deepsea Yantai drilling rig for production drilling at its Gjøa field, offshore Norway.According to the Petroleum Safety Authority Norway which gave the consent last week the drilling will take 240 days to complete…

Awilco Drilling Posts 'Nil' in 1Q Revenue. In Talks for Newbuilds Funding, Deployment

May 13, 2020

Oslo-listed offshore drilling contractor Awilco Drilling did not generate revenue during the first quarter of 2020, and it on Wednesday reported a net loss of $9,4 million. However, the company is optimistic about the future, that is, when its high-end rigs…

Neptune Gets Nod for Dugong Drilling with Deepsea Yantai Rig

May 06, 2020

Oil and gas company Neptune Energy has received regulatory approval to use the Deepsea Yantai rig for exploration drilling in the North Sea, offshore Norway.The Petroleum Safety Authority Norway said Wednesday it had granted Neptune the consent…

Keppel Delivers New Jack-Up Drilling Rig to Borr Drilling

Apr 23, 2020

Singapore-based offshore drilling rig builder Keppel Offshore & Marine has delivered a newbuild jack-up drilling rig to Norway's Borr Drilling.The rig, named Hild, was built to Keppel's KFELS Super B Class design. The Hild is the sixth jack-up that Keppel has delivered to Borr Drilling…

Offshore Oil Rig Infection Exposes Coronavirus Dangers

Mar 12, 2020

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…

PGNiG Starts Norwegian Drilling

Sep 02, 2019

Polish state-controlled oil and gas company PGNiG said its unit PGNiG Upstream Norway started drilling an exploration well in licence area PL838 (the Shrek prospect) on the Norwegian Continental Shelf, for the first time in the role of the operator…

Current News

Coronavirus, Consolidation Taking Toll On Energy Jobs

Coronavirus, Consolidation Taking Toll On Energy Jobs

Total Keeps Dividend But Cuts Investment Target

Total Keeps Dividend But Cuts Investment Target

MODEC Sets Out to Reduce Cost of Floating Wind Turbines

MODEC Sets Out to Reduce Cost of Floating Wind Turbines

Chevron Posts Q3 Profit

Chevron Posts Q3 Profit

GIEK Doubling Down on Offshore Wind

GIEK Doubling Down on Offshore Wind

World's Largest Wealth Fund Cites Paucity of Good Green Energy Deals

World's Largest Wealth Fund Cites Paucity of  Good Green Energy Deals

Class Societies Help Navigate Offshore Sector’s Coronavirus Challenge

Class Societies Help Navigate Offshore Sector’s Coronavirus Challenge

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