Business & Finance
ExxonMobil expects $200 million in job cuts charges
U.S. energy supermajor ExxonMobil expects up to $200 million in charges related to job cuts in 2021, figured in previously in the company’s cost-savings plans.
Irish secure €2.88M for prototype robotic subsea drill
The Irish government has allocated €2.88 million for a project that aims to develop a prototype subsea robotic drilling system for the offshore wind sector, amongst others. Mincon Group and its partners Subsea Micropiles, the National University of Ireland and the University of Limerick will design
Talos books Seadrill rig for deepwater Tornado well
Talos Energy has hired a drillship from Seadrill to drill an infill well on the Tornado field located in the U.S. Gulf of Mexico.
Subsea 7 earnings up in Q1 2021
Subsea 7 has reported an adjusted EBITDA increase of 50 per cent in the first quarter of 2021, to $102 million, compared to $68 million from the same period in 2020. According to Subsea 7, the mentioned boost is driven by progress on Subsea and Conventional projects, high utilization of the PLSVs, a
Velesto expects insurance to mitigate sunken rig costs
Velesto Energy expects the financial impact of an incident in which its NAGA 7 rig submerged off Sarawak will be mitigated by the insurance.
Tellurian kept focus on debt reduction in Q1 2021
US LNG export player Tellurian has made a voluntary $17 million debt repayment, shown in its first-quarter 2021 results.
Total brings online short-cycle project off Angola
French oil major Total has started production from the Zinia Phase 2 short-cycle project located in Block 17 offshore Angola.
Equinor and Eni-HitecVision JV join forces for Norwegian offshore wind tender
Equinor and Vårgrønn, a joint venture (JV) between Eni and HitecVision, have signed a collaboration agreement to jointly apply for offshore wind acreage in Norway at one of the two areas the country opened last year. The partners said they would jointly prepare and submit an application to the Norwe
COSL Drilling made exclusive rig provider for OKEA
A four-year-long frame contract has been signed by COSL Drilling Europe with OKEA for the use of COSL’s rigs in Norway.
Shelf Drilling clinches 10-year rig job
Shelf Drilling has secured a ten-year contract extension for a jack-up rig in direct continuation of its current contract in the Arabian Gulf.
Disappointing result for BW in Gabon appraisal well
BW Energy has not encountered hydrocarbons in the target Gamba reservoir of its Hibiscus Extension appraisal well off Gabon.
Maersk reports record profit amid high freight rates
Danish shipping and logistics giant A.P. Moller – Maersk delivered an exceptionally strong performance in Q1 2021 with a record profit for the quarter.
BHP produces first oil from Ruby project
Oil and gas company BHP has produced first oil production from the Ruby project, which is located offshore Trinidad and Tobago.
Aker Solutions reveals good figures in 2021 start
Aker Solutions has reported growth in both earnings and order intake in the first quarter of 2021, with about 35 per cent of new contracts related to the energy transition. In Q1 2021, Aker Solutions saw an EBITDA of NOK 427 million (approximately EUR 42.5 million), with a margin of 6.6 per cent, an