Fossil Energy
UK to avoid shut-ins even with $20 oil prices, Rystad says
With the reality that Brent oil prices are scratching closer and closer to $20 per barrel, shut-ins are already happening around the world. Even if prices reach this threshold, the UK will avoid shut-ins and exploration is likely to continue in 2020.
OPEC+ production cuts have dire implications for oil tankers
The agreement of the members of OPEC and its allies to cut oil production by 9.7 million barrels of crude per day is not believed to be enough to offset the massive demand drop and will certainly have dire implications for the oil tanker shipping market. “The first quarter of 2020 has been one of [&
Impairments push Halliburton into $1 billion loss
Giant oilfield services provider Halliburton booked a $1 billion loss in the first quarter of this year compared to a profit in the same period of 2019
World’s two largest pipelay vessels meet in Rotterdam
Two giant pipelay vessels owned by offshore contractor Allseas are now, for the first time ever, both in Rotterdam, the Netherlands.
Vår Energi creates new VP role for Aker Energy man
Norwegian oil and gas company Vår Energi has named Bjørn Thore Ribesen as its vice president Field Development & Projects.
SeaBird in new source contract in South America
SeaBird Exploration has secured a letter of award for a source contract in South America. The contract is expected to start in Q3. The contract has a duration of about 30 – 45 days. SeaBird did not disclose the value of the contract nor the name of the client. The new contract comes a […]
Gasunie joins PosHYdon pilot project
Dutch energy infrastructure company Gasunie has joined the PosHYdon pilot, a project that aims to integrate three energy systems in the Dutch North Sea: offshore wind, offshore gas, and offshore hydrogen. The PosHYdon pilot is an initiative of Nexstep, the Dutch association for decommissioning and r
Beach Energy ends Diamond rig contract
Beach Energy has terminated a drilling contract with Diamond Offshore for the Ocean Onyx drilling rig.
Equinor gets 10-year life extension for Troll B platform
Norwegian authorities have granted consent to operator Equinor for a 10-year lifetime extension for the Troll B platform located in the North Sea.
PGS gears for East Shetland shoot
PGS seismic vessel Ramform Tethys is about to start a 3D multi-client survey offshore East Shetland, in UKCS waters. Production will start this week and the first data should be available in Q3 2020. The seismic will cover both frontier and mature areas to enable the interpretation of the internal r
U.S. weekly offshore rig count drops down a notch
The number of offshore rigs in the U.S. decreased by one unit over the last week, according to a weekly rig count report by Baker Hughes.
Schlumberger books $8.5 billion charge in first quarter
Schlumberger took an $8.5 billion charge in the first quarter of the year rocked by the low oil price environment and the coronavirus pandemic.
DeepOcean arrives for Troll phase 3 umbilicals
DeepOcean’s 150-metre-long offshore construction vessel Edda Freya has arrived at Nexans Norway’s factory in Halden to load umbilical for Equinor’s Troll Phase 3 project. The Norwegian offshore contractor will install the umbillical in the North Sea later in the summer. DeepOcean’s work scope for th
Shell and Aker BP cancel Maersk Drilling’s rig contracts
Danish offshore drilling contractor Maersk Drilling has received notices of termination for two drilling rig contracts.