Business & Finance
BP makes headway with plans to develop North Sea oil field
Oil and gas major BP is moving ahead with plans for the development of the Murlach field in the UK North Sea.
In pursuit of restructuring goals, Havila sees the back of two vessels
Havila Shipping has sold two of its platform supply vessels to an undisclosed buyer in a bid to pursue its restructuring strategy.
New North Sea projects targeting 1.3 billion barrels of oil and gas
The annual performance review for the UK’s top producers highlighted 33 new projects targeting 1.3 billion barrels of oil and gas.
Ørsted expects much lower hit from cable protection system issues than anticipated
Ørsted now expects costs to reinstate the integrity of inter-array cables affected by cable protection issues at some of the company’s offshore wind farms to amount to up to DKK 1.3 billion (around EUR 175 million) and not up to DKK 3 billion as initially anticipated. As reported, Ørsted discovered
Dublin firm hands in application for new cross-border interconnector
A Dublin-headquartered company has made an application to Ofgem for a licence that would allow it to participate in the operation of a new subsea and underground electricity interconnector.
Xlinks and UK govt discussing CfD for UK-Morocco power link
Xlinks is in discussion with the UK Government about Contract for Difference (CfD) support for the planned interconnector between Morocco and the UK. According to Xlinks, the power project will be capable of supplying 8% of Great Britain’s electricity needs at £48/MWh for 25 years under the current
Dutch operator takes on Maersk rig for North Sea well
Offshore drilling contractor Maersk Drilling has been awarded a one-well extension for one of its jack-up rigs in the Dutch North Sea.
Shell fined for breaching production consents for North Sea fields
UK’s regulator has fined Shell and served it with a sanction notice for breaching production consents for five fields in the North Sea.
Basque Country welcomes first floating solar power plant
Emica Bombas, a Biscayan industrial firm with more than a century of experience, has through its subsidiary Emica Solar developed and deployed a floating solar demonstrator plant based on design of a trimaran sailboat.
Subsea 7 sees growth in revenues, expects tendering activity to remain high
Subsea 7 has reported a revenue of $1.2 billion in the first quarter of 2022, an increase of $197 million or 20% compared to Q1 2021, said to reflect strong growth in the Subsea and Conventional business unit. According to the UK-based company, the increase in revenue is impacted by significant acti
MARIN hires Van Swaay to build its new virtual testing facility for maritime sector
The Maritime Research Institute Netherlands (MARIN) has hired Dutch-based construction company Van Swaay to build its new Seven Oceans Simulator Center (SOSc).
This year’s oil & gas payments to governments to smash records, Rystad says
High commodity prices and increasing oil & gas supply are set to push upstream sector payments to governments to an all-time high, Rystad says.
TotalEnergies takes $4.1 bln impairment charge on Russian Arctic LNG 2 project
TotalEnergies will no longer book proved reserves for the Arctic LNG 2 and will book a $4.1 billion impairment charge on Novatek’s project.
Hamlet proves to be an oil and gas discovery
Oil and gas company Neptune Energy has confirmed an oil and gas discovery at its Hamlet exploration wells in the North Sea off Norway.