Business & Finance
Total boasts positive test results from South African well
Total has delivered positive test results that show high condensate yield and excellent reservoir connectivity at its Luiperd-1X well offshore South Africa.
Offshore wind investments to swell in 2021 with new markets
Investments in offshore wind projects in new and emerging markets next year will result in offshore wind gaining a greater share of the total wind power market globally, according to the latest report from Fitch Solutions. There are currently over 66 GW of offshore wind in pre-construction or constr
HALO acquires Schooner field for reactivation. Platform not part of the deal
Oil and gas company Hague and London Oil (HALO) has set out plans to reactivate the out-of-production UK North Sea field and reroute gas through infrastructure in the Netherlands.
Eni and Saipem in push to reduce carbon footprint through new collaboration
Italian oil and gas giant Eni and oilfield services provider Saipem are entering into a collaboration for decarbonization projects in Italy.
Offshore helicopter traffic tumbles in 2020 but recovery in sight, Rystad says
Global demand for offshore helicopter transport to offshore facilities plunged in 2020 as a result of the Covid-19 pandemic, a Rystad Energy report shows.
MOL’s propeller boss cap fins hit 3,500 vessel order milestone
Japanese shipping major Mitsui O.S.K. Lines said that its Propeller Boss Cap Fins (PBCF), marketed by its group company MOL Techno-Trade, has now been ordered for 3,500 vessels. PBCF is an energy-saving device attached to the propeller of a vessel. It breaks up the hub vortex generated behind the ro
Hapag-Lloyd upgrades earnings forecast amid strong market demand
German container shipping company Hapag-Lloyd has raised its earnings forecast amid better than expected business performance. For the 2020 financial year, earnings before interest, taxes, depreciation and amortisation (EBITDA) of €2.6 to 2.7 billion, from the previously announced €2.4 to 2.6 billio
W&T boosts 4Q guidance after restoring Gulf of Mexico output
W&T Offshore has restored production that was shut-in due to an active storm season in the Gulf of Mexico and increased its production guidance for 4Q 2020.
ECV, Gunvor form LNG trading and shipping JV
Energy Capital Vietnam (ECV), a Vietnam-focused company, has formed an LNG trading and shipping joint venture with Gunvor.
Equinor inks helicopter deal, adds Vår Energi to the mix
Norwegian oil giant Equinor has awarded CHC Helicopter a contract for personnel transportation from Stavanger airport, Sola.
Oil & gas, aerospace, defence companies to boost UK offshore wind supply chain
The Offshore Wind Growth Partnership (OWGP) selected 32 UK companies working in industries such as oil and gas, aerospace and defence for its Wind Expert Support Toolkit (WEST) Pilot Programme, within which the companies will join those already involved in the renewable energy sector. The programme
MAN compressors set for Sangomar FPSO
Japan’s Modec has ordered six compressors from MAN Energy Solutions for an FPSO destined for the Woodside-operated Sangomar field offshore Senegal.
DSME inks LoI for 10 LNG-powered VLCCs
South Korean shipbuilder Daewoo Shipbuilding & Marine Engineering (DSME) has signed a Letter of Intent (LoI) to build 10 LNG-powered very large crude carriers (VLCCs) for an undisclosed European client, Business Korea reported citing the shipyard. If the contract for the ten 300,000-ton dual fuel VL
Motive snaps up Flowline Specialists
Motive Offshore has acquired subsea equipment experts Flowline Specialists for an undisclosed figure. The deal, which was finalised last week, is the latest development in Motive’s growth trajectory, bringing its headcount to approximately 200 and bolstering existing capabilities in the UK, Norway a