Fossil Energy
Transocean books loss, but sees improving longer-term market fundamentals
Transocean has booked a loss for the last quarter of 2019 as its revenues increased. The company has reduced the loss sequentially and year-over-year helped by gain on termination of construction contract, tax items, and disposal of assets
Equinor hires two platform suppliers from Skansi Offshore
Faroe Islands-based offshore vessel operator Skansi Offshore has won two contracts from Norwegian oil major Equinor for two platform supply vessels (PSVs).
Shell and i-Tech 7 team up to accelerate subsea digitalization
i-Tech 7, Subsea 7’s life of field business unit, and Shell have entered into a collaborative technology agreement to accelerate subsea digitalization.
PGS enters digital transformation pact with Cognite
Norwegian seismic services provider Petroleum Geo-Services (PGS) has entered into an agreement with software company Cognite to reduce vessel operating costs and improve efficiency.
Transocean’s contract backlog tops $10 billion
Transocean has secured more work for its fleet of offshore drilling rigs and brought its total contract backlog to over $10 billion.
Investigation launched after North Sea rig crane collapse
An investigation has been launched into an incident on a Valaris-owned jack-up drilling rig, currently working for Chrysaor in the North Sea, following an incident involving the rig’s crane.
Borr makes new financing arrangement for newbuild jack-up rig
Offshore drilling contractor Borr Drilling has entered into a new financing arrangement for the newbuild jack-up rig Tivar.
Equinor contracts PSV Stril Pioner for eight more months
Norwegian shipowner Simon Møkster has been awarded a new contract by compatriot oil major Equinor for one of its platform supply vessels (PSVs).
TGS promotes EVP Europe to CFO role
Norwegian seismic firm TGS has appointed a new chief financial officer (CFO) of the company.
Popular news, February 10 – 16, 2020
Offshore Energy Today’s most popular news of the past week.
Westwood: More offshore EPC spending in 2020, prices remain a focus
Significant cost reductions have improved E&P cashflows and should drive increased offshore tendering activity in 2020 with pricing expected to remain competitive, according to market research provider Westwood Global Energy Group.
Israel limits natural gas production at Leviathan due to pipeline fault
The Government of Israel has limited the natural gas production from its largest natural gas field – Leviathan – to about 60 percent of its production capacity due to a pipeline fault.
Ashtead competes work on Northern Lights CCS project in North Sea
Subsea equipment specialist Ashtead Technology has completed subsea installation monitoring work to support the Northern Lights Carbon Capture Storage project (CCS) in the North Sea.
HitecVision bundles 20 oil & gas firms to expand into other sectors
Norwegian investment firm HitecVision has decided to put together 20 of its oilfield service companies into a new industrial group.