Business & Finance
NKT cuts losses as revenues rise
NKT, the power cables business, has delivered improved revenue and earnings in Q3 2020 in all of its business lines. The cable division generated revenue of some €300 million, against €232 million same time last year. Year-to-date revenues stood at €1.05 billion, versus €926 million for the first ni
Karoon renews contract for Brazilian FPSO
A joint venture between Ocyan and Altera has been awarded a contract by Karoon for the FPSO Cidade de Itajaí operating on the Baúna field off Brazil.
Ørsted and BP strike up green hydrogen partnership in Germany
Ørsted and the multinational oil and gas major bp have agreed to jointly develop a potential large-scale renewable hydrogen project in Germany powered by offshore wind. The project, which is expected to be operational in 2024, will comprise a 50 MW electrolyser system installed at bp’s Lingen Refine
Heerema wraps up installation project offshore Qatar
Heerema Marine Contractors’ heavy lift vessel Aegir has completed the installation of North Oil Company’s Al-Shaheen Gallaf 1 Project offshore Qatar.
Magseis Fairfield back in black
Seabed seismic player Magseis Fairfield has returned to profit in Q3 2020 despite major revenue drop against the prior-year quarter. The Oslo-listed company generated Q3 2020 revenue of $47 million, down from $134 million same time last year. Revenue was up from Q2 2020 revenue of $45 million. The y
Dyna-Mac lands FPSO work but loses offshore vessel deal
Dyna-Mac has won new contract awards related to fabrication of FPSO parts but it has also lost an offshore vessel contract.
Beach hits gas in first Victorian Otway campaign well
Beach Energy has made a gas discovery at Enterprise 1 in licence VIC/P42(V) in the nearshore Victorian Otway Basin, Australia.
Shell in early termination of jack-up rig contract in Brunei
Oil major Shell has terminated early its contract for the Aban Offshore-owned jack-up drilling rig operating for Shell in Brunei.
Woodside taking Scarborough project forward with acceptance of production licences
Australian energy giant Woodside has confirmed its commitment to taking the delayed Scarborough gas project in Australia forward.
Beach Energy ready to have another go at delayed Australian well
Australia’s Beach Energy is preparing to drill the Artisan offshore exploration well, which has been delayed due to the Covid-19 pandemic.
Qatar Petroleum’s newly established LNG trading arm snags Singapore deal
LNG giant Qatar Petroleum has established and started operations of QP Trading, as its dedicated LNG trading arm.
Vår Energi chooses two ‘greener supply vessels’ in push to reduce emissions
Vår Energi has decided to hire two ‘greener supply vessels’ for service in the North Sea as part of strategy to reduce its environmental footprint.
Triangle expands in Perth basin, eyes wind & solar project centred around Cliff Head
Triangle Energy has entered into an agreement with Pilot Energy to acquire an interest in an offshore in the Perth Basin and agreed to enter into a wind & solar JV.
Karoon to transform into oil production company following Brazilian field takeover
Karoon Energy has completed the acquisition of a 100 per cent operating interest in the Baúna field, located in the Santos Basin offshore Brazil.