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Fossil Energy

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Oil & GasBusiness & FinanceBusiness Developments & ProjectsSubseaExploration & ProductionInfrastructureRigsAuthorities & GovernmentMarket OutlooksOutlook & StrategyRegulation & PolicyRules & RegulationFPSO & VesselsLow-Carbon TransitionInnovationTransitionVesselsEnvironmentResearch & DevelopmentProduction & ProcessingEquipmentProject & TendersLiquefied Natural GasCollaborationVision
Illustration; Source: Gulf Marine Services (GMS)
Fossil Energy

GMS looks to the future with hope as it strikes a multimillion-dollar bank deal for debt refinancing

UAE-based Gulf Marine Services (GMS), a provider of self-propelled and self-elevating support vessels for the offshore oil, gas, and renewables sector, has sealed a deal with three banks to refinance its bank debt.

about 2 years ago
Hanwha Ocean constructed a new platform for the Al-Shaheen oil field in Qatar, which is on schedule for the sail-away at the end of July 2024; Source: Hanwha Ocean
Fossil Energy

New platform for huge offshore oil field ready for sail-away

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South Korea’s Hanwha Ocean is on track to send off a fixed platform to its final destination where it will be installed at Qatar’s largest offshore oil field.

about 2 years ago
Umm Lulu; Source: Technip Energies
Fossil Energy

New milestone for Technip Energies, as it wraps up work on mega offshore oil project

Technip Energies has completed all its contractual obligations for the second phase of an offshore oil field in the Arabian Gulf, 30 km northwest of Abu Dhabi, UAE.

about 2 years ago
Ocean Apex rig; Source: Diamond Offshore
Fossil Energy

Noble-Diamond Offshore merger process is off to a good start: Will it prompt further rig market consolidation moves?

With two of the world’s top five floating rig contractors merging into one, the market consolidation trend is ripe for further such moves, bringing the possibility of transformation endeavors in existing business models and a potential shift in offshore rig supply and demand dynamics.

about 2 years ago
Helmerich & Payne
Fossil Energy

Helmerich & Payne’s $2 billion KCA Deutag acquisition secures rig fleet boost and top spot in largest oil & gas regions

In pursuit of further growth and diversification, Helmerich & Payne (H&P) has embarked on a business combination with KCA Deutag.

about 2 years ago
FPSO Petrojarl Kong and FSO Yamoussoukro; Source: Eni
Fossil Energy

Eni’s revamped FPSO and FSO getting ready to set sail for ‘Africa’s first net-zero emissions’ oil & gas project (Video)

Eni and Altera Infrastructure have held a naming ceremony for an FPSO and FSO, which underwent conversion works for a year.

about 2 years ago
FPSO Energean Power; Source: Energean
Fossil Energy

UK firm greenlights $1.2 billion gas project offshore Israel

With a 30-year production license in hand, Energean has made a final investment decision (FID) for a phased development off the coast of Israel.

about 2 years ago
8th Ministerial on Climate Action; Source: COP28
Fossil Energy

Chinese oil & gas major commits to global decarbonization initiative

PetroChina has joined the OGDC, a pledge aiming to accelerate decarbonization in the oil and gas sector worldwide.

about 2 years ago
'Large' subsea win takes TechnipFMC offshore Israel
Fossil Energy

‘Large’ subsea win takes TechnipFMC offshore Israel

TechnipFMC has secured what it says is a large integrated engineering, procurement, construction, and installation (iEPCI) contract with London-based oil and gas player Energean for subsea infrastructure destined for a field offshore Israel. As part of the contract worth between $500 million and $1

about 2 years ago
Illustration; Source: Saipem
Fossil Energy

Saipem scores $500 million for work on two offshore oil projects in Middle East

Saipem has got its hands on multimillion-dollar assignments on two projects off the coast of Saudi Arabia with the country’s oil and gas heavyweight Aramco.

about 2 years ago
Kuwait Oil Company (KOC)
Fossil Energy

‘Large’ oil & gas discovery springs up offshore Kuwait

Kuwait Petroleum Corporation (KPC) has revealed a big oil and gas discovery at an offshore field east of Failaka Island, off the coast of Kuwait, fueling hopes of finding more hydrocarbons to boost the country’s resources.

about 2 years ago
BP, Shell, TotalEnergies and Mitsui take stakes in ADNOC’s huge LNG project
Fossil Energy

BP, Shell, TotalEnergies and Mitsui take stakes in ADNOC’s huge LNG project

Abu Dhabi National Oil Company (ADNOC) has signed agreements with industry majors BP, Mitsui & Co., Shell and TotalEnergies under which each will take a 10% equity stake in what will be the first liquefied natural gas (LNG) export facility in the Middle East and North Africa (MENA) region to run on

about 2 years ago
Illustration; Source: ADNOC Drilling
Fossil Energy

AI-enhanced newbuild rig trio enlarging UAE giant’s drilling fleet thanks to $733 million oil field gig

ADNOC Drilling has tucked a new multimillion-dollar assignment under its belt with ADNOC Offshore for drilling work at a huge oil field.

about 2 years ago
Illustration; Source: International Energy Agency (IEA)
Fossil Energy

Green shift in 2024: Fossil fuels to top $1 trillion but lion’s share of energy investment going to clean power

Clean energy technologies and infrastructure are poised to hit $2 trillion in 2024, which is double the amount going to coal, oil, and gas.

about 2 years ago