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Business & Finance - Offshore Energy

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ARO’s 20-rig newbuild programme fires Valaris’ enthusiasm for growth prospects

Business & Finance

Valaris excited by growth prospects as ARO explores financing options for 20 newbuilds

Valaris has expressed its excitement over growth prospects arising out of a 20-rig newbuild programme, which ARO Drilling is pursuing.

about 4 years ago

To ramp up production at Lower Zakum, ADNOC hands out $548 million deal for new main gas line

Business & Finance

To ramp up gas production at Lower Zakum, ADNOC hands out $548 million deal

UAE’s ADNOC Offshore has awarded a $548 million contract for a new main gas line at its Lower Zakum field offshore of Abu Dhabi.

about 4 years ago

Business & Finance

BGP returns to Sercel for another seabed nodal solution purchase

Sercel, a designer and manufacturer of seismic equipment, has made another ‘major’ sale of its GPR300 seabed nodal solution to geophysical services provider BGP. The sale of the second batch of 12,000 GPR300 nodes to BGP follows the earlier major order of 18,000 nodes in 2021. According to Sercel, t

about 4 years ago

Business & Finance

Seadrill to sell seven jack-up rigs for $628 million

Seadrill has entered into a binding share purchase agreement with ADES to sell the legal entities that own and operate seven jack-ups in Saudi Arabia.

about 4 years ago

Business & Finance

UAE oil & gas giant hands out five ‘largest-of-its-kind’ drilling deals

UAE’s ADNOC has awarded framework deals described as “largest-of-its-kind” totalling $1.83 bln for drilling-related services to five firms.

about 4 years ago

Support for fossil fuels passed whopping $697 bln in 2021, delaying energy transition progress, says OECD and IEA

Business & Finance

Support for fossil fuels passed $697 bln in 2021, delaying energy transition progress, says OECD and IEA

The IEA and the OECD outline in their new analysis that the backing for fossil fuels almost doubled in 2021, reaching $697.2 billion.

about 4 years ago

Carbon capture, utilisation and storage capacity to increase ‘seven-fold’ by 2050 to reach net-zero, says WoodMac

Business & Finance

WoodMac: For net-zero by 2050, carbon capture, utilisation and storage needs ‘seven-fold’ boost

As global CCUS capacity is nearing 1 billion tonnes per annum, Wood Mackenzie believes that more is needed to meet net-zero goals by 2050.

about 4 years ago

Business & Finance

Latest rig addition brings ADNOC Drilling’s offshore jack-up fleet to 28 units

ADNOC Drilling has inked a deal to acquire an additional premium offshore jack-up drilling rig as part of its fleet expansion programme.

about 4 years ago

India’s Aban completes delayed sale of rig to ADES

Business & Finance

India’s Aban brings delayed rig sale to a close

India’s Aban Offshore has completed the sale of a jack-up drilling rig to ADES International, which was postponed on several occasions.

about 4 years ago

Rystad sees hard times ahead for Russia’s upstream sector even though it rebounded strongly

Business & Finance

Despite strong rebound, Rystad sees hard times ahead for Russia’s upstream sector

Despite the resilience shown by Russia’s upstream sector beset with sweeping sanctions, Rystad Energy believes “the worst is yet to come.”

about 4 years ago

The ‘EWP-EDF One’ project (Courtesy of Eco Wave Power)

Business & Finance

Israel sets feed-in-tariff for Eco Wave Power’s wave energy project

The Israeli Electricity Authority (IEA) has set an official feed-in-tariff (FIT) for Eco Wave Power’s newly installed wave energy pilot project at the Port of Jaffa in Tel Aviv, Israel.

about 4 years ago

Business & Finance

Repurposed jack-up rig sets sail for Gabon oil project

BW Energy has revealed that a former jack-up rig, which was converted to an offshore production unit, is on its way to Gabon.

about 4 years ago

Business & Finance

Oil & gas maintenance managers facing equipment and procedure challenges

In a recent study, the oil & gas maintenance managers have voiced concerns over growth in procedures and the lack of equipment reliability.

about 4 years ago

Rystad says this year’s high-impact oil & gas drilling activity on track to yield ‘one of the most productive annual volumes’ ever recorded

Business & Finance

Rystad: 2022 high-impact oil & gas drilling activity on track to yield ‘one of the most productive annual volumes’

Rystad: Drilling success rate is set to rebound this year with the potential to result in one of the highest hydrocarbon volumes total on record.

about 4 years ago