Fossil Energy
U.S. pulls in over $93 million in high bids from Gulf of Mexico sale
The U.S. Bureau of Ocean Energy Management has generated over $93 million in high bids for 71 tracts in Federal waters of the Gulf of Mexico.
EnQuest gives up on production re-start at UK fields
In light of recent developments in the oil market, oil and gas company EnQuest has decided not to re-start production at the Heather and Thistle/Deveron fields located offshore the UK.
No dividend and paycuts for top management as Kvaerner readies for coronavirus impact
Kvaerner will propose at its upcoming general meeting not paying dividends and a zero increase in the compensation to the company’s directors. In addition, Kvaerner CEO proposed a 10% reduction to his annual base salary to support the company amid an oil price war and the coronavirus outbreak.
Operator shortens Middle East gig for Shelf Drilling’s jack-up rig
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.
Sea Lion partners remain committed to closing farm-out despite oil price weakness
Partners in the Sea Lion project, located offshore the Falkland Islands, remain committed to the completion of a farm-out of interest in the project to Navitas Petroleum despite current oil price weakness.
Jadestone delays Vietnamese gas project ‘in light of current market conditions’
Jadestone Energy has decided to delay its gas development project offshore Vietnam due to the current market situation and as a result of a decision to reduce its 2020 capital expenditure guidance.
i3 Energy secures Dolphin rig for summer appraisal campaign
i3 Energy has awarded a drilling contract to a Dolphin Drilling-owned rig and agreed on a sale of an interest in a block offshore the UK.
Havila keeps two platform suppliers busy with Axxis Geo. Wins one new deal
Norwegian shipowner Havila Shipping has won two extensions and one new contract for its platform supplier vessels (PSVs).
Safety issues found during audit of Ærfugl production pipes
Norwegian offshore safety watchdog, the Petroleum Safety Authority (PSA), has found irregularities during an audit of the design and fabrication of EHTF production pipes for Aker BP’s Ærfugl field.
World’s largest crane vessel to arrive in Rotterdam
The world’s largest semi-submersible crane vessel Sleipnir will arrive in the Port of Rotterdam for the first time on Saturday, March 21.
Oil market downturn pushes ConocoPhillips to trim capex by 10 pct
Oil major ConocoPhillips is taking several actions in response to the recent oil market downturn.
Spirit taps Unity for well integrity services
Unity has been awarded a three-year contract by Spirit Energy to maintain wellhead equipment across twelve platforms in the East Irish Sea, Southern North Sea, and the Dutch sector of the North Sea.
Solstad Offshore brings in new deals for PSVs in UK
Norwegian offshore vessel owner Solstad Offshore has won several contracts for platform supply vessels in the UK.
Over 200 oilfield service firms could become insolvent as coronavirus hits, Rystad says
Around 20% of Europe’s mid- and small-sized oilfield service companies, the vast majority of which are British or Norwegian, are set to become insolvent as the effect of the Covid-19 epidemic will hit the continent’s OFS market hard, a Rystad Energy impact analysis shows.