Business & Finance
Another North Sea project hit by cost inflation as capex estimate goes up
Vår Energi has updated its cost estimate for a field life extension project in the North Sea off Norway to reflect a tighter supplier market.
Johan Castberg FPSO still on track for first oil next year but cost estimate jumps to $7.4 billion
Equinor has revised the cost estimate for its Johan Castberg project in the Barents Sea due to the rise in cost within the industry.
New gas discovery in North Sea seen as ‘exciting’ play opener
Norwegian oil and gas company DNO Norge has made a new gas condensate discovery in the Norwegian sector of the North Sea.
Coming to grips with a mixed bag of energy transition expectations
As COP28 nears, concerns surrounding climate change are heating up and the pressure on the oil and gas industry is mounting day in, day out.
Fluxys forms hydrogen partnership with Oman’s OQGN
Belgium’s energy infrastructure company Fluxys has strengthened its partnership with Omani state-owned transmission system operator OQ Gas Networks (OQGN) to explore areas of strategic cooperation in the development of Oman’s hydrogen and CO2 infrastructure. Following an invitation to become an anch
European JV to deliver project that aims to revolutionize Senegal’s power infrastructure
A UK-Belgium joint venture has secured a $200 million contract to deliver onshore and offshore works for two links in Senegal as part of a program that aims to revolutionize the country’s power infrastructure and provide sustainable electricity to millions of people. The award is for the Senegal Pow
Potential sale of operatorship and stake in giant undeveloped North Sea discovery underway
Orcadian Energy has set the wheels into motion to sell a big chunk of its interest in a huge undeveloped North Sea field to an undisclosed player on the UK Continental Shelf (UKCS).
Triple contract win brings $260 million to DOF
Norway’s DOF Group has won three new service contracts with Brazilian state-owned oil and gas giant Petrobras that are worth more than $260 million. The contracts include survey and inspection work and will see at least three vessels used to perform flexible pipeline, risers and subsea equipment ins
Norwegian firms merging to make ‘strong full-service energy data company’
Norwegian seismic companies PGS and TGS are merging their businesses to create what they say will be a full-service geophysical data company, pursuing potential in new energy with complementary technology offerings for carbon capture and storage (CCS) and offshore wind. TGS and PGS agreed on the pri
KN starts Klaipeda LNG capacity allocation
Lithuanian Klaipeda LNG terminal operator Klaipedos Nafta (KN) has offered the market 9 TWh of the LNG terminal regasification capacities for the period from 2025 to 2032 and from 2033 onwards. The National Energy Regulatory Council approved the updated allocation model at the end of July, and accor
French tidal energy company eyes up to €2M of fresh funding
French company EEL Energy is looking to raise up to €2 million in new funding to help advance its tidal energy technology and projects.
Equinor hands over development plan for multi-million gas tie-back in North Sea
Equinor has submitted a plan for the development and operation (PDO) for a gas discovery in the North Sea.
SCZONE, Dutch officials pen cooperation deal to boost green fuel investments
Waleid Gamal El-Dien, Chairman of the Suez Canal Economic Zone (SCZONE), and the Dutch consortium and Rotterdam City have signed a cooperation protocol that aims to attract investments in establishing green hydrogen production plants and facilities. The parties signed the deal during El-Dien’s meeti
Projections of peak oil, gas, and coal demand before 2030 deemed ‘extremely risky and impractical’
OPEC, a permanent intergovernmental organisation of 13 oil-exporting developing nations that coordinates and unifies the petroleum policies of its members, is convinced that the recent assertions about the fossil fuels – coal, oil, and gas – demand peaking before 2030 are not supported by “consisten