Fossil Energy
Oil and gas to catapult global energy spending to record highs in 2022, Rystad says
Surging oil, gas and power prices together with the EU’s goals of becoming less dependent on Russian supplies and post-Covid-19 pandemic inflation will catapult global energy spending this year to $2.1 trillion, Rystad Energy research shows.
Ithaca Energy gains access to two of the largest undeveloped discoveries in UK North Sea
Ithaca Energy, owned by Israeli Delek, has reached an agreement to acquire Siccar Point Energy, the operator of the Cambo oil project.
UK plans to ensure energy independence by scaling up renewables while maximising North Sea production
In light of the war in Ukraine and amid rising concerns over energy security, the UK government has moved to strengthen its energy security.
IKM Testing bags another Tyra redevelopment deal
IKM Testing AS has signed a contract with TotalEnergies and its Danish Underground Consortium partners Noreco and Nordsøfonden to work on the Tyra redevelopment project.
DOF Subsea hits 99% repurpose rate on latest decommissioning project
DOF Subsea has achieved a 99% rate for the combined recycling and repurposing of recovered materials on its decommissioning project at the Buchan and Hannay fields in the Central North Sea. The offshore works, carried out using Skandi Acergy and Skandi Skansen, included the recovery of 135 concrete
Subsea 7 hires Corinth Pipeworks to provide linepipe for Hasselmus project
Corinth Pipeworks, the steel pipe segment of Cenergy Holdings, has secured a contract with Subsea 7 to provide linepipe for the tie-back of the Hasselmus gas discovery to the Draugen production platform in the Norwegian North Sea.
Solstad completes its divestment campaign after offloading six more vessels
Solstad Offshore has sold additional six vessels in a bid to reduce its debt by successfully completing its divestment strategy.
Canada caught between a rock and a hard place as decision on giant new oil project draws near
The Canadian government has found itself between a rock and a hard place when it comes to new oil and gas projects with pressures of climate change and the urgent need to transition to clean energy sources on one side and growing concerns over energy security on the other.
EU bans Russian vessels from ports, ‘edges closer’ to banning Russian oil imports
The European Union members have announced a new, fifth round of sanctions against Russia and its businesses due to the war in Ukraine.
Russia’s war in Ukraine will not hinder Europe’s energy transition, DNV says
DNV has revealed within its new analysis that the Ukraine crisis will not derail Europe’s energy transition, as it is expected to speed it up.
BP and IKM Testing sign first well services contract
IKM Testing UK has secured a multi-year contract with BP to deliver well integrity services across the oil and gas giant’s portfolio of North Sea assets. The agreement is the first well services contract between the two companies and covers well integrity remediation services, including sustained ca
BP and Altera investigating fire incident on Foinaven FPSO
Non-essential workers on an FPSO vessel located on BP’s Foinaven field off the UK have been evacuated following a fire incident.
Equinor finds ‘high-value barrels’ in North Sea
Equinor has made a significant hydrocarbon discovery with excellent reservoir quality in the Kveikje exploration well, located off Norway.
CGG and Kent partner up for hydrogen and CCUS
French geophysical services firm CGG and Dubai-based energy engineering company Kent will work together on CCUS development and hydrogen production and supply.