Business & Finance
Tullow Oil and Capricorn unveil merger plan to create new player with focus on Africa
Tullow Oil and Capricorn Energy have reached an agreement on the terms of a recommended all-share combination of Tullow and Capricorn.
Nexans Norway begins expansion of its subsea cable factory
Nexans has held the foundation stone laying ceremony for the expansion of its subsea cable factory in Halden, Norway. The expansion also includes a new tower that will be built to supply cables for the offshore wind market. Once finished, the new tower will be about 150 meters tall and will be the t
Aiming to focus on offshore, Saipem sells onshore drilling business for $550 mln cash and more
Saipem has decided to sell its onshore drilling business to KCA Deutag for $550 million in cash plus an equity stake in the combined entity.
Vantage closes sale of three jack-up rigs
Offshore drilling contractor Vantage Drilling has completed the sale of its subsidiary holding three jack-up rigs to ADES.
Eco Wave Power begins 2022 with wider net loss and revenue drop
Swedish-Israeli wave energy company Eco Wave Power has released its financial report for the first quarter of 2022, showing a wider net loss and a drop in revenues compared to the same period in 2021. Eco Wave Power reported an increased net loss of SEK 6.7 million ($720,000) for the first three mon
Aquadrill to reactivate two rigs for new jobs
Offshore drilling contractor Aquadrill has secured two new contracts, which will see it reactivating two assets.
Following restart, IOG working to double North Sea gas project output
IOG is looking forward to doubling the output at its North Sea gas project, after restoring the production following modifications.
Safe Bulkers continues fleet renewal with two energy-efficient ships
Dry bulk shipping company Safe Bulkers has entered into an agreement for the acquisition of two energy-efficient Kamsarmax class vessels as part of its fleet renewal strategy. The company has ordered two 82,500 dwt dry bulk newbuilds from an undisclosed Chinese shipyard, scheduled for delivery withi
CSA delivers environmental assessment program for major operator off Suriname
U.S.-based CSA Ocean Sciences has completed an Environmental Assessment Program (EAP) for a “major” offshore energy operator in Block 58 located some 115 kilometers offshore north Suriname. The EAP included an Environmental and Social Impact Assessment (ESIA) for a 3D seismic survey proposed in the
Aker BP hits minor oil and gas find in North Sea
Norwegian oil and gas company Aker BP has made a minor gas and oil discovery near the Valhall field in the North Sea off Norway.
Post-merger with BHP, Woodside becomes ‘largest energy company on ASX’
Woodside has completed the merger with BHP, creating the “largest energy company listed on the ASX and a top ten global independent.”
Snam buys 5 bcm Golar Tundra FSRU for $350 million
Snam is to acquire a floating storage and regasification unit (FSRU) Golar Tundra for $350 million from Bermuda-based LNG shipper Golar.
Construction on Canadian oil project set to restart following suspension of over two years
Canada’s Cenovus Energy and its partners have agreed to restart the West White Rose Project offshore Newfoundland and Labrador.
New court hearing begins on Shell’s seismic surveys off South Africa
A three-day legal challenge against Shell and Impact Africa’s seismic surveys off the South African Wild Coast has begun at the Port Elizabeth High Court. The challenge will include the review of the exploration right that the Department of Mineral Resources and Energy (DMRE) granted for the activit