Fossil Energy
GlobalData: Saudi Aramco, ADNOC mega-deals boost contract activity in third quarter
The global oil and gas industry has seen a substantial boost from contract activity in the Middle East resulting in contract value of $44.4 billion in Q3 2019, according to data and analytics company GlobalData.
Standard Drilling bounces back to black
Norwegian offshore vessel owner Standard Drilling has reported an operating profit in the third quarter of 2019 following unrealized gain on revaluation of financial assets of $1 million.
West Mira first ever rig to receive DNV GL Battery notation
Northern Drilling’s West Mira has become the first rig in operation to be awarded the DNV GL Battery Power class notation.
Oil majors’ West of Shetland assets to overtake North Sea as major producing basin in UK
Over the last four years oil and gas production in the West of Shetlands has risen and with that, a growing relevance for the biggest players still active in the UK continental shelf, says GlobalData.
Cyprus OKs Aphrodite development plan. Grants exploitation license
First gas is expected to start flowing in 2025.
Worldwide offshore rig count in October up 37 rigs year-over-year
The worldwide offshore rig count in October 2019 decreased by two units sequentially, but increased by 37 units year-over-year, according to reports by Baker Hughes Company.
Pandion exits Duva field, PGNiG ups stake
Pandion Energy has agreed to divest its 20% share in the Duva field through two transactions, one with PGNiG Upstream Norway and one with Solveig Gas Norway, each acquiring a 10% share in PL 636 and PL 636B.
Maersk plans low-emission upgrade for jack-up rig ahead of Aker BP extension
Maersk Drilling has secured a contract extension offshore Norway from Aker BP for the ultra-harsh environment jack-up rig Maersk Integrator.
Subsea 7 profit and revenues down on lower pricing and activity levels
Subsea 7 saw a decrease in revenues in the third quarter of 2019 due to lower activity levels in the Renewables and Heavy Lifting business and a smaller profit due to lower pricing and competitive market environment.
Rystad: 2019 shaping up to be Norway’s best exploration year since 2014
Equinor on Wednesday announced an oil and gas discovery near the Fram field in the North Sea off Norway. Energy intelligence firm Rystad Energy has said that this has been the best year for discoveries on the Norwegian Continental Shelf since 2014.
Island Drilling firms up North Sea deal with Cairn
Island Drilling Company has signed a contract with Capricorn Norge, a subsidiary of Cairn Energy, for operations in the North Sea offshore Norway.
Equinor extends Solstad Offshore vessel trio charters
Norwegian oil and gas company Equinor has extended contracts for three offshore vessels – one AHTS and two PSVs – of Solstad Offshore. Solstad Offshore said Wednesday that Equnior had awarded a new one-year contract for the anchor handling vessel (AHTS) Normand Ferking. The oil and gas company will
OKEA’s Skumnisse well comes up dry
The company said Tuesday that well will now be permanently plugged and abandoned as a dry well.
UK approves decommissioning plan for subsea facilities on MacCulloch field
UK authorities have approved the decommissioning plan for the subsea infrastructure and associated infield pipelines on the Chrysaor-operated MacCulloch field, located in the UK North Sea.