Business & Finance
Nexans inks Seagreen 1 export cable contract
Nexans Norway has been awarded a contract for the supply and installation of export cables for the Seagreen 1 offshore wind farm, after being chosen as a preferred supplier in 2019. The Norwegian company will design, manufacture and install three 65-kilometre offshore export cables and three 20-kilo
BW gets another FPSO extension from Petrobras but layup still on the cards
FPSO operator BW Offshore has signed another agreement with Petrobras for an extension of the lease and operation of BW Cidade de São Vicente in Brazil.
Singapore yard prepares for topside works on Energean FPSO as workforce ramps up
Energean has informed that work restarted on the Energean Power FPSO in the Admiralty Yard, Singapore, on 2 June 2020 and the subsea installation campaign offshore Israel is progressing as planned.
PGS wields costs axe as market bites
PGS said it will implement further cost reductions as seismic industry takes major hit on Covid-19 and oil market disruption. Specifically, this includes staff reductions, re-organization, consolidation of offices, re-negotiation of service agreements and other cost measures. This should also bring
Aker Energy to revive Pecan field development with phased approach
Oil and gas company Aker Energy is looking to revive its Pecan field development offshore Ghana, after terminating its agreement with Yinson for the provision of an FPSO for the project.
Hokchi opts for early termination of drilling contract with Mexico’s Grupo R
Mexico’s Grupo R has received an early termination of a drilling contract with Hokchi Energy due to the current market situation.
Premier agrees discount in buying BP’s North Sea assets
Oil and gas company Premier Oil has agreed revised terms for the acquisitions of the Andrew Area and Shearwater assets from British oil major BP.
SembMarine’s Brazilian unit enters $500 million credit facility
A wholly-owned subsidiary of Singapore’s offshore rig builder Sembcorp Marine has entered into a revolving facility agreement for up to $500 million with Standard Chartered Bank.
DNV GL and Sing Da Marine ink jacket foundations deal in Taiwan
DNV GL has signed a contract with Sing Da Marine Structure (SDMS), a wholly-owned subsidiary of China Steel Corporation (CSC), to provide support for jacket foundation manufacturing for offshore wind projects in Taiwan. DNV GL will provide SDMS with risk mitigation advice around technical, logistica
Borr delays deliveries of five jack-up rigs as part of financial restructuring
Borr Drilling has postponed deliveries of five jack-up rigs until mid-2022.
Seacor Marine buys remaining stake in SEACOSCO JV
U.S. offshore support vessel provider Seacor Marine has, through a wholly-owned subsidiary, entered into a definitive sale and purchase agreement to acquire the remaining 50 per cent of the equity interests in SEACOSCO Offshore, that it did not already own from COSCO Shipping.
Eni in major overhaul as it shifts toward renewable energy
Italian energy giant Eni has announced a major overhaul of its business as it steps up efforts toward energy transition. The company will create two business units with one focused on oil and gas called “Natural Resources” and the second new unit which will focus mainly on renewable energy named “En
Dynagas LNG profit climbs
Greece-based Dynagas LNG Partners, a partnership formed by shipowner Dynagas, reported a rise in its first-quarter profit boosted by higher voyage revenues. Net income for the three months ended March 31 increased to $7 million as compared to $1.9 million in the same period in 2019. Dynagas LNG attr
US weekly LNG exports drop to ten cargoes
The United States exported less liquefied natural gas cargoes in the week ending June 3 when compared to the week before, according to the Energy Information Administration. The agency said in its weekly gas natural gas report that five US terminals dispatched ten LNG cargoes between May 28 and June