Business & Finance
Qatar Petroleum CEO warns of dangers of stopping oil & gas investments
Qatar Petroleum has warned that depriving the oil & gas sector of new investments amid energy transition could result in big spikes in prices.
World’s first offshore green hydrogen plant to go online in France
An offshore hydrogen production plant powered by electricity from a floating wind turbine is scheduled to be put into operation next year in France. The hydrogen production system will be installed at the SEM-REV demonstration site off the coast of Le Croisic in France, where it will be linked with
Hurricane may face wind-down if no agreement for Lancaster FPSO is reached
Hurricane Energy is looking to shorten the bareboat charter term for Bluewater’s FPSO Aoka Mizu due to significant financial obligations.
Novatek, Gazprom Neft form Arctic E&P joint venture
Russian energy firms Novatek and Gazprom Neft have formed an exploration and production joint venture which will focus on developing a license in the East Siberian Sea and the Chukchi Sea.
Prosafe strikes a deal with lenders over restructuring plan
Following an agreement with lenders, Prosafe expects to reduce its debt significantly and improve the balance sheet and financial flexibility.
Saipem bolsters floating wind position with Naval Energies buy
Italian offshore energy services company Saipem and Naval Energies, a subsidiary of France’s Naval Group, have signed an agreement for the acquisition of Naval Energies’ floating wind business. The deal covers Naval Energies’ engineering know-how on floating units, intellectual property rights, and
Deepwater Tornado well pays off for Talos
Talos Energy has completed drilling operations on the Tornado 3 sidetrack well, in the U.S. Gulf of Mexico, which successfully discovered pay.
Biden’s executive order bans investment in China’s shipbuilders
The Biden administration has banned U.S. investments in Chinese companies allegedly linked to China’s military, expanding hard-line policies introduced by the previous administration. The executive order bans American citizens from investing in some of the leading defense and surveillance technology
CHC gets extension on Neptune’s UK assets
Offshore helicopter operator CHC has been awarded a contract extension by Neptune Energy for operations in the UK North Sea.
Novatek, TotalEnergies strengthen Arctic LNG ties
Russa’s Novatek and TotalEnergies have strengthened their ties on the Arctic LNG projects with two new agreements.
Archer wraps up DeepWell acquisition
Oilfield services provider Archer has closed the acquisition of Norwegian well intervention company DeepWell.
Trident warming up for three-well campaign as E. Guinea works to offset declining output
Following the arrival of a jack-up rig, Trident Energy is gearing up to drill three wells at its operated field located off Equatorial Guinea.
Karoon adds more wells to Maersk rig backlog
Karoon has exercised an option to add two wells at the Patola field offshore Brazil to the work scope of a Maersk Drilling-owned rig.
MODEC firms up contract award for one of largest FPSOs ever in Brazil
Japan’s FPSO operator MODEC has firmed up a contract award with Equinor to deliver one of the largest FPSOs ever delivered to Brazil.