Fossil Energy
Ezion scrambles for working capital. Posts 1Q loss
Cash-strapped liftboat specialist Ezion Holdings reported a net loss for the first quarter of $12.8 million on the back of lower revenue. The company’s revenue for the quarter was $28 million, down from $37 million in the corresponding quarter a year ago.
Transocean raising $500M via note offering
Offshore drilling company Transocean has started a private note offering in a push to raise $500 million.
Green light for Johan Sverdrup phase 2 plan
The plan for development and operation of the second phase of the Johan Sverdrup field development located offshore Norway was formally approved by Norwegian authorities on Wednesday, May 15.
Article retracted
Article retracted
Awilco swings to loss in 1Q but sees market improving
Awilco Drilling sank to a loss in the first quarter of the year amid lower revenues but the driller sees an improvement in the offshore drilling market.
Piper Alpha survivor to manage UK’s offshore safety body
UK’s offshore oil and gas safety body Step Change in Safety has appointed Steve Rae, a Piper Alpha accident survivor, as its new Executive Director.
Empyrean discovers ‘gas clouds’ over prospects offshore China
China-focused oil and gas development company Empyrean has said that it has identified ‘gas clouds’ over two offshore prospects in the South China Sea, an indication of a presence large oil field.
Energean delays drilling of producer wells at Prinos
Greek oil company Energean has reduced its production forecast for the year following change of plans related to drilling of two producer wells on the Prions field, located in the Gulf of Kavala off Greece, which has now been pushed back to 2020. In an operational update on Wednesday, Energean said
OPT, Eni in wave energy device milestone
Ocean Power Technologies has informed that its PB3 PowerBuoy unit deployed with oil firm Eni offshore Italy, has reached has produced more than one MegaWatt-hour (MWh) cumulative energy to date.
Canada’s Horizon sets up Norwegian branch as ex-Bourbon vessel gets new paint job
Horizon Maritime has finalized the intake of the former Bourbon Arctic vessel, which is now sailing under the name Horizon Arctic. Horizon has also established a Norwegian branch.
Mozambique approves Rovuma LNG development plan
The government of Mozambique has approved the development plan for the Rovuma LNG project led by Exxon and Eni.
Corinth to supply pipes for Midia gas project
Corinth Pipeworks has been selected to manufacture and supply 8” steel pipes for the infield line and 16”steel pipes for the offshore gas transport pipeline for the Midia gas project in the Black Sea off Romania.
Australia’s Talon takes over EnCounter’s North Sea licenses
Australia-based Talon Petroleum has completed the acquisition of EnCounter Oil Limited, which owns two UK North Sea licenses.
One worker dies after Saipem pipe-layer blast in Caspian Sea
One worker has died following last week’s fire on the Saipem-owned pipe-laying vessel which, at the time of the incident, was operating in the Caspian Sea offshore Azerbaijan. In a statement sent to Offshore Energy Today on Tuesday, a spokesperson for Saipem said that “one person who has been in mos