Business & Finance
Rystad Energy: Global installed offshore wind capacity to grow by 37% in 2021
The world’s installed offshore wind capacity rose by 15 per cent in 2020, despite the COVID-19 pandemic, and this year will see a 37 per cent growth in global installed offshore wind capacity, according to Rystad Energy. Major contributor to both last year’s and this year’s growth is China. The coun
Shell’s earnings sink on lower prices and volumes
Shell recorded an 87 per cent decrease in its 4Q 2020 adjusted earnings due to lower oil and gas prices and production volumes.
EnQuest to buy Golden Eagle from Suncor
EnQuest has signed an agreement with Suncor Energy to buy its entire non-operated equity interest in the Golden Eagle area.
Tullow eyes Maersk drillship for Ghana campaign
Maersk Drilling has received a conditional letter of award from Tullow for the provision of the Maersk Venturer for drilling offshore Ghana.
Vantage drillship wins two-year gig with ONGC
Vantage Drilling has informed that its drillship Platinum Explorer has received a letter of award for a two-year contract from ONGC.
Offshore EPC awards set for rebound in 2021
Outlook for the offshore engineering, procurement and construction (EPC) market in 2021 looks promising, boosted by projects deferred from 2020, according to market research provider Westwood. With a forecast of $29 billion firm or already awarded contracts and a further $16 billion of probable and
Three players develop green solution to cut emissions in drilling operations
A collaborative, green solution developed by COSL Drilling Europe, Kongsberg, and NOV is poised to generate savings in offshore drilling operations.
Ocean Sun shuffles executive leadership team
Norwegian floating solar specialist Ocean Sun has appointed Nenad Keseric as the new Chief Operating Officer (COO), while the former COO takes up a different role within the company.
Stena Drilling in push to decarbonise exploration drilling
Stena Drilling has entered into a strategic framework agreement for decarbonisation exploration with dCarbonX for the development of “geoenergy” resources.
Ørsted’s operational wind farms give 14% boost to 2020 earnings
Ørsted’s earnings from operational offshore and onshore wind farms saw a 14% increase in 2020, driven by the ramp-up of power generation from the Hornsea One and Borssele 1&2 projects, amongst others. In its annual report for 2020, Ørsted states that the earnings from wind farms in operation increas
Sparrows lands five-year contract renewal in North Sea
Sparrows Group has been awarded a five-year contract renewal with a UKCS operator to continue supporting its production across two assets.
TMC to supply compressors for Equinor’s Bacalhau FPSO
Norwegian TMC Compressors has been contracted to supply the marine compressed air system to the Bacalhau FPSO that is being built for Equinor.
Inpex takes more interest in two Gulf of Mexico fields
Japan’s Inpex Corporation has acquired an additional interest in Lucius and Hadrian North fields located in the U.S. Gulf of Mexico.
OPT acquires 3Dent Technology
US-based marine energy company Ocean Power Technologies (OPT) has acquired an offshore energy engineering and design services company 3Dent Technology.