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Fossil Energy

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Ran jack-up rig; Source: FOSS & ESG; Credit: Borr Drilling
Fossil Energy

Borr Drilling’s CEO: Middle East conflict brings uncertainty but empowers long-term rig outlook

Borr Drilling, an offshore drilling player with its corporate base in Bermuda, has secured 13 contracts year-to-date, enhancing its backlog by adding 2,250 days and $274 million in jack-up rig deals.

about 4 months ago
Illustration; Source: QatarEnergy
Fossil Energy

Wood to deliver pipeline design and more for Qatar’s redevelopment project

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China’s Offshore Oil Engineering Company (COOEC) has awarded Wood with a contract for the design of an optimized solution for a pipeline network at QatarEnergy’s hydrocarbon redevelopment project. Wood has been put in charge of the design of 25 pipelines, including ensuring safe interaction where pi

about 4 months ago
A large vessel at sea
Fossil Energy

UAE and India deepen energy ties with oil, LNG, LPG and storage deals

United Arab Emirates-headquartered energy heavyweight Abu Dhabi National Oil Company (ADNOC) has struck new strategic alliances with India-based energy partners, fortifying bonds between the UAE and India through agreements across crude oil, liquefied natural gas (LNG), and liquefied petroleum gas (

about 4 months ago
Industry players unite to form UAE’s first shipbuilding consortium
Fossil Energy

Industry players unite to form UAE’s first shipbuilding consortium

A group of national industry players has come together to form the first shipbuilders consortium in the United Arab Emirates (UAE), which will work toward aligning national shipbuilding capabilities to drive maritime innovation and growth. According to AD Ports, the initiative is designed to strengt

about 4 months ago
Block 3 offshore Syria; Source: QatarEnergy
Fossil Energy

TotalEnergies, QatarEnergy, ConocoPhillips, and SPC pool resources for Mediterranean oil & gas search

Three international oil and gas players, France’s TotalEnergies, Qatar’s QatarEnergy, and U.S.-headquartered ConocoPhillips, have joined forces with the Syrian Petroleum Company (SPC), Syria’s state-owned oil exploration and production company, to embark on a hydrocarbon quest in the Mediterranean S

about 4 months ago
Illustration: Source: Wood Mackenzie
Fossil Energy

Gulf LNG export woes push gas prices up but diversification becomes Europe’s energy lifeline

Given the supply shock that hit the global liquefied natural gas (LNG) markets as a result of the Middle East conflict, Wood Mackenzie, an energy intelligence group, has pointed out that this disruption, which led to a gas price surge, failed to rattle Europe thanks to its investment in diversified

about 5 months ago
Illustration; Source: Wood Mackenzie
Fossil Energy

Oil & gas firms step up exploration game to tackle supply shortfall by 2050

As global exploration and production (E&P) players are facing a 40% output drop, Wood Mackenzie, an energy intelligence group, has pointed out that oil and gas companies are increasing high-impact exploration investment to address the 300-billion-barrel supply gap and energy security priorities by 2

about 5 months ago
Valeura charters Shelf Drilling’s 19-year-old rig
Fossil Energy

Valeura charters Shelf Drilling’s 19-year-old rig

Canadian oil & gas company Valeura Energy has chartered a jack-up drilling rig owned by UAE-based Shelf Drilling for multi-year work in the Gulf of Thailand. The Enterprise jack-up rig has been chartered for a three-year term which runs until December 31, 2029. Valeura Energy has an option on the st

about 5 months ago
After LNG vessel deal, Dubai-based firm orders four new VLGCs to enrich LPG fleet
Fossil Energy

After LNG vessel deal, Dubai-based firm orders four new VLGCs to enrich LPG fleet

Dubai-based independent energy and commodities trading group BGN is expanding its liquefied petroleum gas (LPG) fleet capacity with the order for four new dual-fuel very large gas carriers (VLGCs) to be built in Korea. HD Hyundai Heavy Industries (HD HHI) will construct the four VLGCs at its shipyar

about 5 months ago
renewable
Fossil Energy

World’s first global shipping carbon price talks back at UN’s bargaining table

As negotiations on a landmark climate agreement introducing the world’s first global carbon price on any polluter are set to catch a second breeze, the resumption of talks at the UN is seen as a big test whether countries can unite against the U.S. and other largely oil-producing states to defend th

about 5 months ago
Energy Savannah, soon to be renamed Astro Atlas; Courtesy of Golden Energy Offshore
Fossil Energy

2021-built vessel opens ultra-deepwater market doors for Astro Offshore

Dubai-based offshore vessel operator Astro Offshore, an Adani Group company, has enlarged its fleet with a new multipurpose support vessel (MPSV). This addition is described as the largest vessel in the firm’s fleet.

about 5 months ago
Deepwater Asgard drillship; Source: Transocean
Fossil Energy

Transocean scores 390-day Mediterranean Sea job for 2014-built drillship

Switzerland-based offshore drilling contractor Transocean has won a multimillion-dollar assignment for one of its ultra-deepwater drillships in the Eastern Mediterranean Sea.

about 5 months ago
Illustration; Source: Saipem
Fossil Energy

With two new deals, Saipem’s contract value for Saudi field reaches $900 million

Saipem has secured two new offshore contracts with Saudi Arabia’s Aramco, worth approximately $400 million, adding to the $500 million award announced in February for the same project. Under the contract release purchase order (CRPO) reported two months ago, Saipem’s scope of work includes the engin

about 5 months ago
BGN signs JV with CCEC for LNG carrier; Courtesy of BGN
Fossil Energy

UAE firm to enrich fleet with two LNG carriers by 2027, first vessel deal now in the bag

On a quest to expand its maritime operations by enlarging its fleet, Dubai-based independent energy and commodities trading group BGN has sealed a long-term liquefied natural gas (LNG) carrier (LNGC) charter with an affiliate of Capital Clean Energy Carriers (CCEC).

about 5 months ago