ADNOC and ADPower have issued a joint tender to develop and operate the MENA region’s first HVDC subsea transmission system. The system will connect ADNOC’s offshore production facilities to ADPower’s onshore electricity grid. The project should as a result reduce the carbon footprint of ADNOC’s off
The last two modules for Equinor’s Johan Castberg FPSO turret mooring system have sailed away from Dubai to Singapore.
Exploration plans are being redrawn and the well count is expected to drop by as much as 35 per cent on 2019 levels due to the “double whammy” of the oil price collapse and COVID-19 pandemic, according to market research provider Westwood Global Energy Group.
Transocean has received a contract termination for a drillship operating in Egypt.
Energean’s FPSO unit, meant for the Karish and Tanin development offshore Israel, has reached Sembcorp Marine’s shipyard in Singapore.
The effect of the COVID-19 pandemic and the ongoing oil price war will likely cause the cancellation of more than half of the world’s planned licensing rounds, according to energy intelligence firm Rystad Energy.
After four days of negotiations OPEC, Russia, and allies have agreed on record production cuts to save the oil industry amid a major industry crisis exacerbated by the coronavirus pandemic.
The Covid-19 epidemic and the ongoing oil price war have ravaged global energy markets during the last two months, and offshore drilling, in particular, is among the most affected industry segments, according to energy intelligence firm Rystad Energy.
At least nine of the world’s top planned exploration wells for 2020 are at risk of being suspended as a result of the combined effect on oil and gas activities of the Covid-19 virus and the oil price war, a Rystad Energy impact analysis shows.
An independent competent persons report for Energean’s Karish North field, located offshore Israel, has revealed a significant uplift to the company’s previous best estimate of the field’s volumes and submitted an addendum to the field development plan.
Under Rystad Energy’s updated base case scenario of $34 per barrel in 2020 and $44 per barrel in 2021, global capital expenditure for exploration & production firms is expected to drop by up to $100 billion this year, about 17% versus 2019 levels.
ABS, a global classification provider, will provide a classification for a series of self-elevating drilling units (SEDU) for Silver Eagle Global.
A contract for the Shelf Drilling-owned jack-up drilling rig operating in the Middle East has been changed to end sooner than previously agreed.
The worldwide offshore rig count in February 2020 has risen by two units sequentially, but dropped by the same number year-over-year, according to a rig count report by Baker Hughes Company.
