Business & Finance
Covid-19 caused the loss of over 28,000 oil & gas jobs in Australia, Rystad analysis shows
The Covid-19 pandemic hit Australia’s already declining oil and gas workforce hard, causing a loss of over 28,000 jobs this year, Rystad Energy says.
Total and Jadestone exit acreage off the Philippines
Total and Jadestone Energy have decided to relinquish and terminate its Service Contract 56 offshore Philippines following a decision not to drill a well.
Suriname offers eight offshore blocks in new bid round
Suriname is offering eight new offshore blocks in the currently unlicensed and underexplored Shallow Offshore acreage of Suriname via a new round.
Vaalco buys additional working interest in Etame Marin block off Gabon
Houston-based oil and gas company Vaalco Energy has signed a sale and purchase agreement to acquire Sasol’s 27.8 per cent working interest in the Etame Marin block offshore Gabon.
Vantage wins more drillship and jack-up rig work
Offshore drilling contractor Vantage Drilling has secured drilling work for its jack-up rig in Indonesia and a drillship in India.
Equinor to boost Johan Sverdrup output
Equinor’s Johan Sverdrup field is increasing its daily production capacity, expecting to reach around 500,000 barrels of oil per day by the end of the year.
Global upstream M&A deals to gain momentum for the rest of 2020?
Following the Covid-19 pandemic and the oil price crash in early 2020, for some players in the oil and gas sector consolidation may be the only way to stay solvent.
U.S. readies first Gulf of Mexico oil and gas lease sale for 2021
The U.S. agency BOEM is planning the first Gulf of Mexico oil and gas lease sale for 2021, which outlines all available areas in the region-wide auction.
Mermaid books $84 million loss in Q3
Subsea services provider Mermaid has reported net loss of $84.1 million for the three-month period ended 30 September 2020. This result compares with loss of some $6.2 million in the corresponding period in 2019. The Singapore-listed company generated quarterly revenue of $22 million, versus $27 mil
Norwegians and Japanese ink offshore wind MoU
The Japanese Kiso-Jiban Consultants (KJC) and the Norwegian Geotechnical Institute (NGI) have signed a Memorandum of Understanding (MoU) for offshore wind energy in Japan. The two parties plan to jointly undertake work related to geotechnical investigations, site characterization and foundation desi
Port and offshore wind installation vessel all-in-one coming to market
Windthrust Ltd., a subsidiary of National Ports Corporation, has revealed plans for a combined self-propelled floating port and installation vessel for offshore wind turbines, foundations and substations. Oceandock LX’s 60,000m2 deck space and onboard storage facility allow for the components to be
MHI sets terms of its 1st green bond
Japanese engineering major Mitsubishi Heavy Industries (MHI) is set to issue a $239 million (JPY 25 billion) green bond on November 24 as it aims to raise funds to support the decarbonization challenge. MHI revealed its green bond issuance plans at the end of October saying the funds raised would ta
Fred. Olsen and Hafslund Eco come together for Norway’s offshore wind
Fred. Olsen Renewables (FORAS) and Hafslund Eco have entered into an agreement to collaborate for the offshore wind sector in Norway. FORAS and Hafslund Eco plan to jointly submit a pre-application for the development of offshore wind projects at the Sørlige Nordsjø and Utsira Nord areas. According
CDB Leasing splashes $137 million on Oldendorff’s sextet
Hong Kong-listed China Development Bank Financial Leasing is buying six vessels from German shipowner Oldendorff Carriers GmbH & Co for $137 million. The vessels include six 60,000-ton bulkers, CDB Leasing said, adding that upon the completion of the transaction the vessels would be leased back to O