Fossil Energy
Equinor increased its purchases from Norwegian suppliers
In 2018 Equinor purchased goods and services worth NOK 141.7 billion ($16.6B) from more than 9000 suppliers globally. Equinor said on Thursday that NOK 95.2 billion ($11.2B) of this went to suppliers with a Norwegian billing address, i.e. 67% of total purchases. Peggy Krantz-Underland, Equinor’s chi
Siem Offshore braces for prolonged downturn in offshore supply vessel market
Norwegian offshore and subsea shipping company Siem Offshore believes that overall rate levels will remain volatile and at generally low levels throughout 2019.
Northern Drilling: Offshore recovery continues. Clients prefer hi-spec rigs
Billionaire John Fredriksen’s offshore drilling company Northern Drilling feels offshore drilling market is on a recovery path, and the company is optimistic about future as clients prefer modern high-spec rigs, of which the company has four, with an option for one more.
Mubadala enters its first gas project in Thailand
Mubadala Petroleum has signed a Production Sharing Contract together with its Thai partner PTTEP for offshore Block G1/61 containing the Erawan producing gas field in Thailand.
Borr Drilling 4Q loss deepens
Jack-up rig fleet owner Borr Drilling reported a net loss for the fourth quarter of 2018.
Ensco revenues hit by lower utilization, dayrate decline
Offshore driller Ensco managed to take the edge off some of its quarterly loss but remained in the red ahead of its merger with Rowan.
Subsea 7 profit drops, but offshore activity levels are improving
Subsea 7 recorded a decrease in profit during the fourth quarter 2018, but the company believes offshore activity levels are improving.
Lundin takes West Bollsta offshore rig on a 10-well contract
Northern Drilling has won a contract for its harsh environment rig West Bollsta with Lundin Petroleum in Norway.
Solstad Offshore in long-term charter for construction support vessel
Norway’s Solstad Offshore has won and Subsea 7 has agreed to extend the contract for the CSV “Normand Subsea” with 4 years.
Aberdeen Harbour expansion moves step forward with 6000t caisson
The first 6,000-tonne caisson started its journey from Cromarty Firth this week to Aberdeen’s South Harbour, a marine support center for the oil and gas industry, marking what has been described as another landmark stage with Aberdeen Harbour’s £350-million expansion project.
Rowan ‘cautiously optimistic’ about improvements in offshore rig demand
Rowan Companies sank to a loss in the fourth quarter of 2018 from a profit in the year-before period. The driller says it is cautiously optimistic when it comes to improvements in overall offshore rig demand.
Subsea 7 clinches North Sea job with BP
Subsea 7 has been awarded a substantial contract by BP for the provision of subsea construction, inspection, repair and maintenance services covering BP’s North Sea region portfolio of assets West of Shetland and Northern North Sea.
Tamarind gets consent for development drilling at Tui field, awaits COSL rig arrival
Tamarind Resources has been granted consent for development drilling at the Tui field located offshore New Zealand. The company is now waiting for the arrival of a COSL Drilling-owned rig.
Archer paints positive outlook picture despite deepened 4Q loss
Oilfield services provider Archer saw its net loss in the fourth quarter of 2018 deepen to $30.4 million, down from $22.7 million in the fourth quarter of 2017. Total revenues for the quarter grew to $233.2 million, compared to 4Q revenue of $223.7 million.